In this video, the total confirmed Corona cases just surpassed one million, and something equally as extraordinary is that the U.S. jobless claims soar to six-point sixty-five million. These are unprecedented levels and we’re already seeing this escalates much, much worse than the time leading to the Great Depression. And also look at the Teather chart. The blue line here spiked 1.5 billion dollars because we just saw 1.5 billion U.S. dollar tethers get printed. Does this mean that a bitcoin pump is imminent? And of course, I’m gonna take a look at the Bitcoin price and the fact that the bitcoin price is still in this ascending triangle. And it seems that bitcoin is very, very close to a breakout. I want to talk about that. And if you think that that sounds interesting that I think you should. Difficult for you. Hello. Welcome to the moon. My name is calling. I’m going to bring you this pretty crazy video. Let’s take a look at with comprising the fact that it looks like this ascending triangle broke out. However, let’s take a look at it a little bit closer to see what is actually going on here. And as you can see here, Bitcoin did get a very big break towards the upside to seven thousand two hundred and eighty approximately on Coinbase. It was a little bit different from exchange to exchange. And there was a little bit of volume coming in here on the four hours live. However, as you can see right now, this only resulted in a false breakout. We are basically back down again. But the question is this green candle here, is that every test of support or are we below the resistance? Well, this result, the resistance is the line that I put here just a couple of days ago. And if you were to judge me based on this line, the bitcoin has basically broken out. However, as you see here, a big week to the upside came straight back down again on one for our hourly candle. And as you may already know, these kind of candles are bearish candles. They signal that there were not enough buyers to push through here and the sellers were basically too strong. And we got rejected. And it is a bearish candlestick, as per the classic technical analysis. And after the volume spike on this for our life on volume spike, we can see that the volume is now again died off as the bitcoin price is once again trying to head higher, in my opinion. I’m not seeing a lot of strength in this current push because there’s basically no volume in this exact moment. I would say that’s what we should do, which would make more sense in this exact moment is to connect this week and this week. And if we pull this up and connect these two weeks, then you can actually see how Bitcoin is currently retesting that resistance. And I think that this is probably the most accurate way, given the information that I have right now, to put this horizontal resistance. This means that Bitcoin has not broken through this ascending triangle. And we are still in this ascending triangle. Of course, in ascending triangle is a bullish pattern. So it’s likelier generally that we’ll break to the upside out of an ascending triangle. This is, of course, only generally. They can also break down because it’s all based on chance. So a classical ascending triangle has a 70 percent chance to the upside, 30 percent to the downside. We should also note, however, that we are in a huge downtrend technically, so that could hurt the performance of the ascending triangle. So this means that this horizontal resistance is approximately six thousand nine hundred ninety-two. And we could also basically just call this the seven thousand dollar area because it’s more of a zone anyways. You see here the volume is still declining, which is what we want to see in an ascending triangle. And it does seem like Baker because trying to break through the resistance, which means that Baker is trying to break out, but we need volume to kick in. But I would be cautious here as we did see this big bearish candle on the 4 hours really timeframe. And next up, the U.S. jobless claims soar to once-unthinkable record six point sixty-five million. And this is insane numbers. If we just take a look at this chart here, you can basically see how extraordinary this is. And this chart for sure looks like it’s broken. It looks like something’s wrong here. Something’s off. But the only thing that’s really off here is the economy itself. And also, of course, the current pandemic that is ongoing, putting everyone in fear and putting businesses out of business because of political decisions. But this is unprecedented. We’ve never seen this before. And I found an interesting fact here from Pompe. He says in the second year of the Great Depression, U.S. unemployment was just under 9 percent. We just hit approximately 9 percent after this morning’s unemployment numbers were released. It has been two weeks. This is going to get even worse before it gets better. And that’s an amazing fact. I think that this is very scary. Of course, the fact that based on unemployment, we’re already seeing things happen that are far worse than the Great Depression. I mean, we’re talking about much, much, much worse. And of course, the Coronavirus is a big part of this, but it’s not the whole story because everyone has been following me for it for the past years. You know that I’ve been talking about the fact that a big financial crisis bigger than the Great Depression is coming. It’s inevitable it will happen. And yeah. Corona made sure that this happened now and not a little bit later. And Carol is also making it happen much, much quicker than it maybe would have happened otherwise. And next up, yesterday, I watched this video from MFM Krypto. He talked about 1.4 billion U.S. dollar Teather being printed very recently. And he talked about how this potentially could be a reason to believe that. It could go up because of the sheer amount of tethers being on the sidelines, ready to move back into the markets because we know that used all the tethers, they generally go back and forth into Bitcoin. They generally don’t go back and forth between US Dollar Teather and actual use dollars. So essentially there’s a lot of use dollar tethers on the sidelines that has very, very easy access to bitcoin. And we can see here this is the Teather graph or wrong coin market cap. Will you see this huge spike since back here where the Teather supply was 4.6 billion. Now it’s spiked 1.5 billion, up to above 6 billion. And the interesting part is that this puts Teather at number four on corner market cap getting very close to surpass REPL as the number three currency on this list. And here is the chart and essentially the green line. Here is the amount of U.S. dollar tethers on exchanges and this orange line is the bitcoin and stable coin supply ratio. And this basically means that when this graph goes down, this aura’s graph goes down. Then there are a lot of stable coins compared to the bitcoin price to compare to bitcoin. And this is, of course, a signal showing us that there’s a lot of buying power very, very close to bitcoin, ready to move in so we can see how the green line is at all-time highs. And this orange line is going down to all-time lows. And what’s really going on with the tethers exploding supply? Well, let’s take a look at what some theories are. Well, Sam Backman freed a former institutional investor. And he says that there are three main factor factors as to why the U.S. dollar teather increases in supply. And he says the counter traders, primarily from Asia, are looking to acquire U.S. dollar Teather, although Bank Winfried did not elaborate on this assertion. It is a known fact that Chinese traders use tethers solutions because they can’t access the crypto markets in any other way. Some have also suggested that use altogether is a good way to move money around the world, even if one doesn’t want to interact with Bitcoin. And I thought this is an interesting thing here, because if people are using U.S. dollar Teather as an easier way to move value around instead of the U.S. dollar, and they don’t use bitcoin maybe because of volatility or because they don’t trust bitcoin, then imagine when the U.S. dollar, which is backing up the Teather goes down in value due to inflation, then all of that demand will go straight into bitcoin instead. However, I have no idea how I can ever measure the demand for U.S. dollar teather as a solution or an alternative to the U.S. dollar or as an alternative to be able to move value around. But I thought that was an interesting point here, and I think it is obvious that when fiat currencies get inflated, then bitcoin will obviously get a lot of value into it because of the obvious fact that the most used way of storing value, which is the Fiat is going down in value. And so people will be looking for alternatives. And number two, factors that people are selling bitcoin for U.S. dollar tethered to hedge positions and people are selling bitcoin for use dollar tethered to reduce risk. And down here. Charles Edwards on Twitter says that major changes in tethers market cap have led Bitcoin’s price over the last 1.5 years. He says that’s back here. We saw tethers going up quite dramatically. And this also spurred on the big bitcoin bull run to 14000. So he says that a huge bull run, a huge pump in the Bitcoin price is coming. And I would love to know what you guys think. Please vote in this poll right now. Do you believe that this is bullish? Do you believe that immediately in the short term, because we’ll have a huge pump due to tethers getting printed in these massive amounts? I mean, 1.5 billion tethers is a lot of tethers. And there’s been so much speculation before that the Teather printing is correlated with Bitcoin, just like Charles Edward says here. And next up. This is a funny image. Time spent looking at exponential graphs. And this is also going exponential because right now we’re seeing a lot of things escalating in the world. I mean, we see the virus escalates in exponential fashion. We’re seeing money being printed in an exponential fashion. We’re seeing inflation. We’re seeing the world move very, very fast right now in a very, very uncontrolled manner. And just take a quick look at the update for krona. We can see that we just passed 1 million total confirmed cases. And as I’ve said before, this probably means that this number is much, much higher because this is only confirmed cases that this graphs on here are definitely looking exponential as it is going higher and higher and growing faster, faster every single day. The United States is still the country with the most confirmed. Cases. Italy is still number two, and this is, of course, a big part of why stock markets are selling off so heavily and why the economy is grinding to a halt. But it’s not the Coronavirus itself. It’s actually the political decisions, all of the political quarantines, the political closing down of gyms, of restaurants. It’s the political decisions, not the crary itself that is keeping the economy to a halt right now. So we’re seeing a massive financial crisis and the Carone outbreak. Why is Bitcoin not surging in value? Well, just like I said in this tweet. Bitcoin is not a hedge against the stock market and is not a hedge against the Coronavirus. Bitcoin is a hedge against the collapse of the current world, reserve currency, the dollar. And I think the fact that the next bitcoin having, which is coming up in 40 days will coincide with the biggest financial crisis in modern time, is very, very bullish for the bitcoin price, at least for the bitcoin fundamentals. And if people realize these fundamentals or not, that remains to be seen. But Bitcoin will truly soar repurpose as we see more and more companies default. We see banks default. People cannot withdraw money from the EMS at this stage of the crisis. Bitcoin will truly be able to show off its true use case being money without a third party, without default risk. And I think that will be a very, very interesting time. And guys. Bitcoin has never been this oversold before. A bitcoin having like this. Leave it like if you agree to that. Let’s see if we can get this Virata to 3000 likes. That would be amazing. And if you haven’t seen this video, they think right there right now. And I’ll see you guys tomorrow.


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