BTC got rejected off the "average price" trendline. Last two time it got rejected it dropped significantly and was supported by the green "major support" trendline. The black "major resistance" line needs to be broken for BTC to pump to +16K above the "average price trendline". The Black resistance line defines the price action of BTC for months to come.
At the moment the rejection at the "average price" trendline (orange) indicates a retracement to the green support line. RSI has room to move down.
At the moment the rejection at the "average price" trendline (orange) indicates a retracement to the green support line. RSI has room to move down.
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that U-turn on the 1st of september was most unusual. Price broke down from major support and was supposed to dump heavily. It turned out to be a bear trap. Price still respecting the three trendlines. The average price line is like a magnet and will pull btc up.
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