Chart's not giving you a clear answer either, that volume spike with no clean support underneath is exactly the setup where both sides lose money.

Yeah and the people who try to "catch the knife" here are gonna feel real smart for about 20 minutes before it slips another leg down.

Maybe, but if it finds anything around that old consolidation zone it actually held for weeks, some of those knife-catchers might not look as dumb as you'd think.

That consolidation zone broke clean, if it held for weeks and then cracked like this on volume, that's not support anymore, that's just a price people remember.

Sure it cracked, but I've seen that zone get retested and flipped before, memory or not, market makers know where everyone's stops were.