Watching the $COMP dip — potential bounce or deeper trouble?

Been keeping an eye on $COMP today, seeing it hover around that 11.88 mark after a pretty significant slide of over 8%. The daily low was 11.815, and honestly, that's a key level for me. On one hand, it's holding just above that prior support from last month's consolidation, which could signal a decent bounce if buyers step in with any conviction. The volume's been high on this downside, though, which isn't exactly encouraging for a quick reversal.

My concern is if it breaks cleanly below 11.80. If we see a daily close sub-11.80, then the technical picture quickly deteriorates. That would invalidate the current mini-support structure I'm watching and likely open the door for a retest of the lower teens, possibly even down to 11.20 if things get really ugly. It's a tricky spot here; leaning against a known support can be profitable, but the risk of a flush-out is real given the broader market sentiment and that kind of intraday drop. I'm not calling a bottom, just observing the reaction around this level.