Bearish Breakout + Consolidation with Bullish BiasRivian Automotive, Inc.BATS:RIVNcrisrojAfter a strong downtrend since 2022, Rivian (RIVN) broke out of its falling channel in late 2023 and has been forming an ascending channel since 2024. This structure suggests a potential medium-term trend reversal. The price is currently around $13.60, sitting just above the 200-day moving average (MA200) and near a key support area of the ascending channel. This zone presents a potential technical entry point if the structure holds. Technical Summary: Higher highs and higher lows since early 2024 MA200 acting as dynamic support Well-defined ascen ding channel projecting higher levels Trade Idea: Suggested entry: $13.00 – $13.60 Stop loss: $11.90 (below the channel and MA200) Take profit 1: $16.00 Take profit 2: $20.00 Take p rofit 3 (extended): $24.00 If the price respects the channel and rebounds from this zone, we could see continued bullish movement toward $16 and potentially higher. If it breaks below $12.00 and loses the MA200, the bullish idea is invalidated.