To challenge 4030 resistance again, a pullback is necessary, for the reasons:
- Overbought (Yellow) in 1H time frame indicated by 9 Seasons Rainbow Indicator
- RSI Divergence in 1H time frame.
- Altcoins are becoming weaker than Bitcoin: LTC, EOS, etc.
The target: 3970-3990
There is possibility that Bitcoin go for next bull run before a pullback, but at least, I would not Long at this time. In this case, when it is rejected again, another amount for short can be added.
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.
Overbought in 1H (Yellow)
11 Bull,BullPullback (Red, Light Red) in all the other time frames
Bull is so strong that a single ribbon of overbought is far not enough to stop the Bull.
Need more levels of overbought(yellow) to against the Bull.
Tuto List: https://9seasonsrainbowindicator.blogspot.com/search/label/tutorial