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Date Posted: 09:58:32 08/30/19 Fri
Author: Philbond007
Subject: XBT(bitcoin dollar index): daily candle chart

On 8/10, I posted the XBT daily chart indicating purple channel resistance was the line to watch. A couple days later, that line was taken out, & the price dropped $1,500 within a few days. What now?

Based on the chart shown below, it looks like there's a LOT less risk on the downside, meaning, a bearish H&S breakdown happened 2 days ago. Next is pullback to test the neckline, if the neckline holds as meaningful resistance, then I wouldn't be surprised to see the price drop to the $8,000 level, give or take.

As always, this stuff's manipulated to the extreme, so you could go to bed, wake up the next day, & bitcoin could move $1,000+ in either direction. For now, I'm waiting to see price action around the neckline.



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