BITCOIN IS RUNNING OUT OF GAS, A PULLBACK MAY HAPPEN SOON
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.
