$PIEVERSE just broke below the rising channel it had been building since the sharp drop off the 2.27 high.
The bounces inside that channel were slow, with each push stalling under the upper trendline near 2.10 and never getting back toward the highs. That looks more like a bear flag than a base. The lower trendline gave way around 2.00 on a strong red candle, and the last two closes are sitting under it. The first real support is the 1.90 area where the channel started, and below that there's very little structure until 1.80.
If price stays under 2.00 and the channel line turns into resistance on a retest, I'd expect 1.90 first and then a push toward 1.80. If it reclaims 2.10 and holds, the breakdown was a fakeout, and the 2.25 resistance comes back into play.
The bounces inside that channel were slow, with each push stalling under the upper trendline near 2.10 and never getting back toward the highs. That looks more like a bear flag than a base. The lower trendline gave way around 2.00 on a strong red candle, and the last two closes are sitting under it. The first real support is the 1.90 area where the channel started, and below that there's very little structure until 1.80.
If price stays under 2.00 and the channel line turns into resistance on a retest, I'd expect 1.90 first and then a push toward 1.80. If it reclaims 2.10 and holds, the breakdown was a fakeout, and the 2.25 resistance comes back into play.
