NIO: Double Bottom Breakout — Can Bulls Clear the $5.00NIO Inc. Sponsored ADR Class ABATS:NIOTaxpayerTrades### **Overview** After establishing a solid structural floor around the **$4.75** base, NIO has successfully confirmed and executed a sharp **Double Bottom ** reversal pattern on the 1-hour timeframe. The breakout has cleared primary local dynamic resistance, and an immediate structural retest has validated the previous resistance zone as active support. Momentum points toward a short-term continuation higher. --- ### **Key Technical Points** * **The Breakout & Retest:** The clean surge above the **$4.90 ENTRY line** and subsequent hourly holding candles confirm that buyers have successfully flipped this key level into a protective floor. * **Momentum Support:** The *Machine Learning RSI (Zeiierman)* indicator successfully printed a clear higher low during the second base formation, confirming a bullish shift in underlying momentum. The indicator line still has plenty of upward runway before hitting overbought extremes. * **Risk/Reward Parameters:** * **Invalidation / Stop Loss (SL):** $4.85 (tucked safely below the immediate consolidation breakout structure) --- ### **Trading Scenarios to Watch** * **🐂 Bullish Case (Targeting Overhead Liquidity):** As long as hourly candles continue to close above the **$4.90** pivot, the path of least resistance remains upward. The immediate target is **TP1 at $5.01** (Risk-to-Reward: 1.81), with an extended target sitting at **TP2 at $5.11** (Risk-to-Reward: 3.81). * **🐻 Bearish Invalidation:** A high-volume loss of the **$4.90** support level would stall immediate momentum. A further drop that breaks below **$4.85** completely invalidates this localized reversal structure. **Are you riding this NIO breakout back above $5.00, or looking to short the resistance? Let me know your targets below!**