why do you say it is a major trendline? StochRSI is highly over baught. The red trend line your drew , pierced through price - whichh invalidates it being a trend line!! The down Fib you drew, price retraced from .618 level, which suggests price is going to reach 1.618 fib extension.
You may please press the Play button and see all the priceaction around the trend line and respecting fib levels as support and ressistance. Sometimes, we ahve to draw things not in so harmony with conventional emthods to catch the move.