Technical analysis by rmchuh about Symbol XRD: Buy recommendation (4/22/2025)

Radix seems to have found a short-term bottom here, breaking market structure to the upside and attempting to change the daily downtrend into a daily uptrend. Volume has picked up at the bottom, and I am looking for a pullback to retest the breakout of the double bottom formed from March 2025 to April 2025. There is a strong confluence of support between 0.009750 and 0.008250. At the 0.618 fibonacci retracement we have the upper bound of the double bottom, which coincides with the upturn of the 21/34/55 EMA and the upper bound of the previous distribution zone. The 50 SMA coincides with the 0.382 fibonacci retracement, which also coincides with the lower bound of the previous distribution zone. Initial Entry - 0.009750 Full Entry - 0.008250 TP1 - 0.0147, with reload at 0.01234 TP2 - 0.0234, with reload at 0.0175 Long Hold Target - 0.07, but I won't be closing my whole position until 2027 at the earliest, 2028 at the latestEntered: 0.00848 SL: 0.00750 Keeping a tight SL. I could very much see a big swing south to grab supply around 0.0058 and then a parabolic upward move. Just thoughts, this is now a long-term hold and I do not plan on selling anytime soon.Looks as though price has swept down for supply at 0.006! Targets still very much in play with a quick move upwards