1. Breakouts have two component: breakout candle(s) and confirmation candle(s); confirmation = the opposite of trend ---› correction
2. The acceleration shows a crazy psychology behind the scenes, thats why the correction follows the acceleration
3. RSI bearish divergence
The 50-61.8% zone of the break out wave is important, but I think the correction of ATH will convert the euphoria of ATH to panic, therefore I think the correction will bigger than the 50-61.8 zone. The weekly chart shows a normal breakout candle, the next week can be the confirmation.
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