this is a very important area right here, we can see from the chart historically the price has reacted at this level, its either it gets rejected here or breaks down, worst case scenarion to me looks like 15 cents thats is only if btc loses support , i think the markets have not seen more downside movement because they need a strong reason why. every body screaming recession while the unemplyment rate is at 3.6% for the past couple months and decreasing since january , this people are delisionals. unless wee see the inflation rate this month keep rising and unemplyment rise unexpectedly , then that would surely without a doubt trigger another huge sell off. right now media is selling fear to everyone while they accumulate . unless we see july inflation report not reacting to the rate hikes , or unemplyment rising consistently then can start to talk about recession.