This is very strong support.

Bitcoin has now tagged its production cost twice in the last 5 months.
Within Bitcoins total history it has tagged the Production cost in a downtrend 8 times.
2 of those in the modern era were the 2020 COVID drop, which was just a wick.
And the other, being the only time bitcoin has candle body closed below it in a downtrend, is the 2017 bottom.
Essentially, there has only ever been one time in history where Bitcoin has candle body closed below the production cost, whilst in a downtrend.
When this happened, it was during what is Bitcoin harshest one day drop ever.
In addition, it was as the 1W first registered oversold on the RSI.
And it was very short lived.
Right now we are 4 months passed our 1W RSI oversold stab, and now tagging the production cost twice.
History tells us that the odds are against a candle close below, and even if we get that outcome, any time spent below the production cost has been very short lived.
In short, even if we do take a stab lower, it will either be very short lived, or it will be a first of its kind move for Bitcoin, when it is already showing a weakening trend with the bullish divergence.
This is deep value territory irrespective of what happens short term next.