BITCOIN IS RUNNING OUT OF GAS, A PULLBACK MAY HAPPEN SOON
Updated
BITCOIN (BITFINEX:BTCUSD) is testing the upper border of the ascending channel. Two attempts were failed during the past hours. There may be another test, but with a high probability, a Pullback may happen soon.
Reasons:
Overbought / Resistance (Yellow) in 30 minute, and 42 minute time frames.
In 15 minute, a Double Top Pattern is formed.
MACD Divergence in 30 minute
RSI has Lower Top.
Hammer on the top of 1 hour time frame.
There is strong support in 4130-4160, it is still too early to say if the support will work once more.
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DISCLAIMER
This is only a personal opinion and does NOT serve as investing NOR trading advice.
Please make their own decisions, carefully assess risks and be responsible for your own investing and trading activities.
Reasons:
Overbought / Resistance (Yellow) in 30 minute, and 42 minute time frames.
In 15 minute, a Double Top Pattern is formed.
MACD Divergence in 30 minute
RSI has Lower Top.
Hammer on the top of 1 hour time frame.
There is strong support in 4130-4160, it is still too early to say if the support will work once more.
If you find this idea reasonable, please like it, I appreciate your thumbs up. People who like will have a bonus of Four-Day free trial of -"9 Seasons Rainbow Multiple Time Frames Pattern STANDARD Indicator".
If you love it, or if you hate it, leave your comment or your point of view. People who comment will have a bonus of one-week free trial of -"9 Seasons Rainbow Multiple Time Frames Pattern STANDARD Indicator".
DISCLAIMER
This is only a personal opinion and does NOT serve as investing NOR trading advice.
Please make their own decisions, carefully assess risks and be responsible for your own investing and trading activities.
Comment
New Idea to follow up
Comment
There is no problem with this Short Signal, the problem is that I should have listened to the indicator of Breakout, as explained in my new idea:
Message the author for a trial of the indicators.
A Trading Indicator Artisan and JAVA Programmer, dedicated to enhancing traders' productivity.
A Trading Indicator Artisan and JAVA Programmer, dedicated to enhancing traders' productivity.
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