Okay,$VFY ‌ is looking messy right now. We had that sharp drop early, finding a temporary floor around 0.05628.

​But look at the attempted bounce up to 0.07043. It got instantly rejected with that huge red candle right after. That's a classic bearish engulfing move and it's dumping all the volume from the bulls.
​Now we're just chopping around 0.06179. It's not holding support well. Every small green candle is getting sold into.
​The real danger zone is that low at 0.05628. If that gives way, we are definitely headed lower, looking for the next psychological support level.
​For a meaningful recovery, it has to reclaim and hold above the 0.0650 area, otherwise, this looks like a weak bounce on a downtrend. I'm staying cautious here.
​What's your plan for this one?

#VFY #BitcoinPriceAnalysis