BTC correction (daily)

20 Des 2020

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.


*LTC=level tester candle