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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New Idea to follow up
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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:
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