SPCX: $190 Breakout Trigger vs $184 Breakdown LevelSpace Exploration Technologies CorpBATS:SPCXArthurshThe price pulled back exactly to the 0.786 Fibonacci retracement level of the previous move. Looking at the chart, we can see a downtrend that can be drawn in a couple of different ways that’s why I marked two yellow trendlines. Instead of focusing on one exact line, I’m treating the space between them (the red rectangle) as a consolidation zone. This range should give us a better idea of where the next move is likely heading and help define the trade setup. Bullish scenario: If price breaks above $190 with a strong move and holds above the zone, I’m looking for a long position targeting a move toward a new ATH. Bearish scenario: If price loses the consolidation area and breaks below $184 with conviction, I’m looking for a short setup targeting the 0.882 Fibonacci level at $165.43. For now, I’m watching the breakout direction, the next move out of this range should give the clearer signal.