Despite the various historic rising trendlines of support flattening the price to record levels of boredom, this approach to the big Januaray bear triangle is appearing to be setup for yet another slow rolloff resolution. It will get much closer than before, even kissing that triangle top, but it's just a bullish tease. Looking back to the last 2 sideways approaches, we can see a similar slight slope upwards that simply goes nowhere and rolls over to a selloff.
This chart shows the "offset" in RSI visible during this continuous bear market, with the dominant ceiling (except the major bounce rallies) holding at 60, and the average floor at 20 (except the few deep panic drops). This current formation is pegged at that ceiling once again, and has plenty of room to drop.
This chart shows the "offset" in RSI visible during this continuous bear market, with the dominant ceiling (except the major bounce rallies) holding at 60, and the average floor at 20 (except the few deep panic drops). This current formation is pegged at that ceiling once again, and has plenty of room to drop.
