I will explain this chart and try to explain how btc feature price fluctuation its completely based on technically
first will take some past collection when btc hit 20k.
so we can see there when btc hit 20k it started its correction and its natural its started dumping and that red becomes downtrend line and another orange becomes major support of that trend and we can see that its taken several times support on that orange major trend support but on 16th of jan 2018 its breakdown orange and its the perfect time for those who didn't sale on 18,19,20k can sell and exit because its break that major support and price will dump until its find next major trend support
now we find that another major support where btc taken supports that was the blue I have circled where its taken support after major correction and now we can see yesterday its break out that blue major support after major long correction so now we can assume that its become the major support line for this trend.
hence its breakout that blue its act as a support now, so if price fall down it takes support on that blue trend and again raise its a perfect breakout we can buy now when its comes on that blue uptrend is started but it will raise slowly
its completely technically based analysis cant say fundamentally because fundamentally anything happens in crypto world no one can say we can get some ideas through technically. negative news ,fud can manipulate the market trade carefully
god bless you