This is absolutely a possibility, but it would also change the general structure of the move up on CRV. Holding above .29 is literally the most bullish possibility structure-wise (series of 1-2's) and I've explained in multiple times why this is my primary expectation. Moving below .29 indicates we have a completed 5 wave move off the lows, which is still bullish, but allows for a deeper retracement below .29 before a full on reversal. The closest example I can give you of this BTC back at 24-25k before impulsing aggressively to new ATH at 65k+ and ultimately 100k+: At the time, MANY were calling for a move down to 21-22k on BTC, and I repeated multiple times that I was not expecting the 24k lows to be breached and that until/unless they were people were jumping the gun calling for lower targets. I even placed a public options bet on the expected aggressive expansion assuming the 24k lows wouldn't be breached and turned 10k into 240k when the thesis was proved correct (see here: https://x.com/CredibleCrypto/status/1767351156186009741?a=WRoJYzCzS-PCHUGITFY&s=20). The lows were never breached, and what followed was one of the most aggressive rallies in Bitcoin's history. We are seeing the SAME potential structure today on CRV. The expectation is, once again, that the lows at .29 will be defended, just as the lows at 24k on BTC were defended. If the lows at .29 are breached, then it would be similar to the lows at 24k on BTC having been breached- not the end of the world (or the higher TF bullish bias), but a shift in structure that has broader implications (no "most bullish" 1-2, 1-2 structure and instead a completed 5 wave move off the .20 lows, which allows for a deeper, longer correction (below .29 but still above .20) before we are ready for the next impulsive/expansion wave to the upside). So yes, it is possible that we take out the .29 lows, dip into demand at .24-.28, and then see an impulsive move back up, BUT that is not my primary expectation atm because based on the expectation of significant outperformance on CRV (which in turn is based on chart pairings against majors and overall structure) I do believe that we may be seeing a similar situation to BTC at 24k's playing out at this time in which the .29 lows are defended, rather than breached (even if temporarily).