SpaceX Finds Support, Bounce ?Space Exploration Technologies CorpBATS:SPCXThe_Alchemist_Trader_SpaceX is currently undergoing a corrective phase after its recent advance, with price now testing an important area of technical support. The market is reacting from the local Point of Control (POC), a level that represents the area of highest traded volume within the current range. Adding further significance to this region is its alignment with the 0.618 Fibonacci retracement level, creating a strong zone of technical confluence. The reaction from this support area suggests that buyers are beginning to step back into the market. As long as price continues to hold above the Point of Control, the probability favors a rotational bounce higher. This would be consistent with normal market behavior following a corrective move, particularly when price is supported by multiple technical factors. An additional scenario worth monitoring is the potential development of a swing failure pattern (SFP). If price briefly creates a new low before reclaiming support, it could signal a liquidity sweep beneath recent lows. Such a move would trap late sellers and often serves as the catalyst for a strong reversal. Confirmation of an SFP would significantly strengthen the bullish outlook and increase the likelihood of a rotation toward higher prices. For now, the key level remains the Point of Control. Maintaining acceptance above this area keeps the bullish thesis intact and supports the expectation of a recovery move. Until proven otherwise, the technical structure favors a rotational rally from current levels rather than a continuation lower.