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Date Posted: 08:53:26 05/29/19 Wed
Author: Philbond007
Subject: XBT(bitcoin dollar index): daily/4hr candle charts

On May 18, I posted the same chart shown below, but this time, I've added the 4hr chart. As of this post, the move to major resistance around $8,950, or just short of $9k, was respectable before backing off. What next?

As of now, a monthly closing candle above $9,200 puts $10,200+ in play, & aside from today, there's only 2 days left. On the flipside, bears wanna keep the pressure on & prevent a couple closing candles above $9,200 for the month.

If the bulls manage a couple closing candles above $10,200, next immediate resistance is $10,500, & if that's taken out, the door opens up for $12,700 to be challenged. Those are the monthly resistance numbers I'm looking for, cause after the $12,700 monthly, the next major resistance is the quarterly $14,100, w/$9,000 being the PREVIOUS quarterly resistance number.

** No monthly resistance lines shown ABOVE the $9,000 quarterly resistance on the chart(s) below:

** Worth noting is the TRIANGLE breakout, which is essentially a CONTINUATION pattern. However, the PULLBACK is still in progress, & bulls will wanna see TRIANGLE RESISTANCE hold on this pullback. Also worth noting is the "price objective" at 100% of the triangle "measured move" comes in a little below $10,200, which happens to be the next monthly resistance number after $9,200.

So the battle is on:





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