$BBL Holding 63.19 Lows – Is this a fakeout?

Watching $BBL closely today. That daily low of 63.19 has been tested multiple times in the last couple of hours. I'm seeing decent volume stepping in there, which is interesting after the initial drop. If it can hold that level into the close, it might suggest the move down was overdone, at least for the short term.

My concern, and what invalidates this idea, is a decisive close below 63.00. That would open up a retest of the prior swing lows around 62.10 pretty quickly. It's too early to call a bottom, but the action around 63.19 is worth monitoring if you're holding or looking to leg in.