What is going on everybody Randall here from crypto love, today's episode. We are going to take a look at Bitcoin, eyeing up key resistance where it's going to go in this episode. Stay tuned, alright, what's up everybody Randall! Here today we are taking a look at Bitcoin in this super cool graph that I just changed by changing it from candles to line graph and look at how awesome it looks it's like something out of Tron, but not that cryptocurrency it's a movie. Something like that. But Bitcoin is eyeing up some key resistance, so in this article here by Michael Van de Pape yesterday, talks about how Bitcoin is remaining bearish below 6.8 thousand dollars. And if we take a look at Bitcoin we're quickly approaching that six point eight thousand dollars, which is right here, I'll even draw a line, so you can see it. That would be right here. Six point: eight thousand dollars right there quickly approaching that if it stays below their Bitcoin is continued to be bearish. However, if it breaks above that, then we might see, as in this particle by William sue Byrne, that Bitcoin could be eyeing seven thousand dollars after a Fed says it has infinite cash geez, okay, so the Fed talking about infinite, unlimited quantitative, easing infinite cash, and if You don't believe me: you can just check out this quote here: there's an infinite amount of cash in the Federal Reserve. We will do whatever we need to do to make sure there's enough cash in the banking system kind of reminds me of tether.
They have like an infinite amount of tether. They just print it out of nowhere same thing that the Federal Reserve does now they're doing this to try and deal with what's going on with the economy. Now is that going to work well, every time they print money, that D values our money, so being how there's infinite Bitcoin or infinite cash, and only 21 million Bitcoin could McAfee be right with a million dollar Bitcoin by the end of 2020. Oh, is this what he was talking about will add, ich Ihnen actually happen. Oh, it certainly could so where bitcoin is going with this well depends: if bitcoins going to break through there with some steam, then we could potentially see a 7200 Bitcoin, but if not Bitcoin would probably be rejected by that head back down to 6400 and then on To further blows so we'll kind of have to go out, but based on this, based on the Fed going the full Zimbabwe. Okay, as you can see here, you guys all know that Bitcoin trades at a premium is in Bob way, because guess what their money is worthless they get paid and a week later, their money is worth nothing that's, where the Fed is headed with its unlimited printing. If we look at every economy where that's happened, it happened back in Germany, where they just started: printing more and more, they took their money off the their standard and they just kept printing more and more, and it completely devalued same thing happened in Zimbabwe.
Same thing happen in Venezuela, so it's, you know if we can learn from history. We'Ll see that'll happen again, maybe it's a good idea to invest in assets that don't devalue infinitely like the dollar. Okay, things like Bitcoin things like real estate, things like other assets, so that's what's next there's, a couple people on trading view saying what's next for Bitcoin. This is from a couple days ago, but this guy Moiseyev yearly says that there's a couple key support and breakout levels. One is right where we're at the 6600 area, if you can break above there, then that'll become support. If not, could head down the 5000 area. Also, this guy yearly beef go says we're in a giant triangle, the buy zone down around 3500 and then, after the halving, the price will break out. But I mean correct me if I'm wrong actually help me out down in the comments. I thought that a descending triangle like this was kind of a bearish pattern like better, would flip and then head down, but that could just be me like if it's, if both sides, it would be like this. If both sides are going down, then it's a bullish pattern, but if the bottom is flat and tops coming down, there goes down that's my thoughts on things that's. What I thought, but you correct me down in the comments because you're all better at TNA, then I am so a couple other articles.
I just wanted to share with you in case you didn't watch the episode yesterday, the bit main s 19 and miners sell out won't ship until May eleven. Now, for those of you who know anything about Bitcoin May 11th is a pretty significant date. It'S, not the exact date but it's around the date of the happening. So they have these brand new s. 19 ant miners more powerful than anything before, but nobody can actually use it until after the half, inning so there's a theory. Conspiracy theories there's a theory that potentially bit minions doing this, so that they can use their ant miners to basically pre and not pre mined in the time in them. In the concept of like I see, open mine but like they'll, be able to pre mine like use their brand new ant miners to mine, the half inning faster and better than anyone else before anyone else gets their ant miners. So let me know what you think about that down in the comments and then look at this alleged operators of 722 million dollar crypto scheme seek jail release amid Cove in nineteen fears. So a couple alleged Ponzi scheme operators have requested new jersey federal court grant their release from jail over concerns that the that jail will just become like a cove in nineteen outbreak. So these guys myth I ago shin jebadiah weeks who created Ponzi scheme, allegedly created Ponzi scheme for seven hundred twenty two million dollars I'm, not sure if you could get accused of that, if you didn't actually do it, but they want to get out of jail now Because they say, hey, you know Cove in nineteen, what they are accused of scamming their big Club Network accused of scamming, seven hundred and twenty two million dollars from people know better than bit connect and all those other things out there.
So there's an old saying, if you can't, do the crime. If you can't do the time you shouldn't do the crime, something like that. That'S scruff McGruff here, don't do the crime. If you can't do the time that's what it is? Okay, so maybe they should have thought of that before getting their seven hundred twenty two million dollar crypto Ponzi scheme, so guys that's. All for the news today. Just I mean this stuff is getting serious. Obviously the covered thing has people concerned, but what's even more. Concerning is just the total devaluation of u.s. dollar and that doesn't only stop at the US dollar that affects all other fiat currencies because they are traded against and with the US dollar and the US dollar is held as a standard across the world. Even in Cambodia. That'S, like the main money, the only thing you they use Cambodian dollars, but no one really uses them. They use u.s. dollars in Cambodia crazy. So thanks for watching have a good one.