This Bitcoin Chart Predicts A PUMP!

**Deezy** (0:00)
This Bitcoin chart is predicting a pump, but I want to get this video to you as soon as possible, because we have about seven hours to determine is this pump going to continue or are we seeing sharp signs of reversal. So we're going to go ahead and dump right into it. There's an emergency upload here. And so we're going to be talking about this descending triangle on Bitcoin. And this is the daily chart. And in a descending triangle chart pattern, there's going to be a string of lower highs where you see the trend line right here, lower, lower highs, that forms the upper line. The lower line is going to be a support level in which the price cannot seem to break. So let's cut back to Bitcoin. And here you can see the trend line to the downside. Hit against resistance, resistance, resistance, then flipped into support. And the trend line right here on the bottom, seems like the bears couldn't push it down below this level. Let's talk about this descending triangle. You see, I got three things here. Number one, rising volume. So we're going to zoom in to the four hour. Are we seeing rising volume on the breakout? It's one of the signs that you want to see in this descending triangle pattern. And when we zoom in on the bottom, you'll see the volume. You see a little bit of a dip right here. You see a little bit of a dip right here. These are the weekends. But when you zoom in and kind of take away the noise here, you can see, yes, the volume is generally trending a little bit higher here. Now you might be saying a descending triangle is a bearish pattern and typically it is, but it does have a lower success rate than the other. So increases the odds that the opposite is going to happen. So study shows that a bearish breakout, meaning it goes down about 54, 64% of the time. That means the failure rate, meaning the coin pumps or the asset pumps, it pumps 36% to 46% of the cases. And so right now we are seeing the price break upwards. And as we were talking about the volume, the volume generally declines as the pattern forms. Then you get that sharp increase necessary to confirm the breakout. We are seeing the sharp increase in volume. So let's go to the next thing. So rising volume, check. What about a bullish engulfing? So number two, we're talking about this bullish engulfing channel. So we're going to move in to the daily again. This candle right here is what I'm referring to. Now bullish engulfing candle is a two-candle reversal pattern appearing at the end of a downtrend signals that the buyers have taken control as a small red candle followed by a large green candle that completely engulfs the previous body. And here you can see, yes, this green candle completely engulfed this candle, engulfed this candle. The more red candles it engulfs, the more bullish. So doing two candles better than one wouldn't be as good as three, four or higher. So then I have a question mark. Topping tail. So this is what I was saying, seven hours, so six hours, 53 minutes to go on this daily close. We might potentially be seeing a topping tail. So what is a topping tail? Topping tail reversal pattern, pointing to price heading to the downside. And it's going to be characterized by the long upper wick and a small body near the bottom. Now, typically the candle body at the bottom is going to be roughly the lower 25 to 50%.
And so right now we're looking at this candle. This candle is in that range. So we want the body to close a little bit higher to Wario's trading earlier today. So let's talk about a topping tail, cause this is some of the reversal signs that we've seen. We've seen a topping tail on US oil. Looking at the daily chart, this right here did call the top. And if you want an update on our oil trade, we did open a lot of positions in January. We got our average price, a dollar and some change. Been closing on the way up. We closed after we doubled. We closed when we hit six. We closed when we hit nine. I just closed the rest of the position today. And so we walked away with a huge, huge pump here. And the reason why I went ahead, closed the trade heading into the weekend, we're just way too much in the money. The profit was just way too high. And then we saw this news right here. This is breaking. This is an hour ago. Iran has given approval to the Indian government for two liquefied petroleum tankers to pass through the Strait of Hormuz. Oil prices are falling on the news. So if we see more deal making like this over the weekend, I would expect those oil futures to open lower on Monday. And we also had this Pete Hexas statement this morning.