PLTR Bubble Has PoppedPalantir Technologies Inc.NASDAQ:PLTRthecafetraderHello I am the Cafe Trader. Today we’re revisiting PLTR. A few weeks ago, I called this a bubble — now I believe the bubble has popped. Price ran into profit-taking levels and is now slipping back through light demand. The ugly price action was finally squeezed, and now you have an exhaustion from buyer coming down to test the light demand. It's important to note that although this light demand is holding, we are getting a cold reaction from this area, suggesting buyers might not be as committed as before. Red Scenario If buyers can’t hold this light demand zone, expect PLTR to flush deeper. The next area of interest is strong retail support around 120–125, but I don’t think that holds for long. Below that, the top of demand around 90 becomes the next stop. Ultimately, the real institutional buyers are sitting down closer to 60 — and that’s where this could be headed if momentum really unwinds. The only way this stays bullish is if light demand holds and we get a strong bounce. That would open the door for another test of the 169 profit target zone. Without that, everything still points lower. Longer term, I see PLTR repricing down into institutional levels. Until we see aggressive buyers step in, I’d consider this bubble popped. Happy Trading, @thecafetrader