Crypto Analyst Says Bitcoin In Critical Zone After Massive Surge – BTC, XRP, Litecoin, Ethereum, Bitcoin Cash, EOS, Cardano, Monero, IOTA Forecasts

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Cryptocurrency analyst and economist Alex Krüger says a technical indicator shows Bitcoin hasn’t been this overbought since late 2017.

According to Krüger, the last time the Relative Strength Indicator (RSI) was in this territory was on December 6, 2017, just before Bitcoin’s parabolic rise from $13,700 to nearly $20,000, which was followed by a huge correction. The RSI is often used by traders to gauge the momentum of a given asset or market.

Last time $BTC was this overbought (RSI) on a daily chart was December 6, 2017, with price at $13700. Back then, a parabolic move ensued.

— Alex Krüger (@krugermacro) May 11, 2019

Meanwhile, Fundstrat co-founder and head of research Tom Lee is highlighting his firm’s research that shows Bitcoin makes most of its gains in just 10 days of a given year.

If you exclude BTC’s 10 best days, the digital asset loses 25% a year.

This week’s strong move on #crypto and especially #bitcoin is reminder $BTC historically generates its annual performance in 10 days. Miss those 10 days and average return is -25%.

Reminder to #HODL https://t.co/DMF5QLi5kH

— Thomas Lee (@fundstrat) May 11, 2019

Right now, the crypto market is a sea of green, with Bitcoin up 9.92% at $6,861, according to Coin360. Ethereum is up 11.68% at $191.43, and XRP is up 9.19% at $0.3239.

CoinDesk’s Omkar Godbole is outlining Bitcoin’s potential to reach $7,400 as analysts look toward the future of the altcoin market.

Bitcoin

CoinDesk – BTC move toward $7,400 could be preceded by a price pullback

NewsBTC – Short squeeze may sustain crypto rally

Ethereum

CoinCodex – Ethereum could blow past $200 with sustained break above $190

Captain Altcoin – ETH is the most attractive altcoin at the moment

XRP

AMBCrypto – Long-term support for XRP at $0.29

Cointelegraph – XRP continues to trade in $0.27795–$0.33108 range

Litecoin

Hacked – LTC approaching point where the market is attractive for bottom picking

Captain Altcoin – Is this the ideal time to long Litecoin?

Bitcoin Cash, EOS, Cardano, Monero, IOTA

NewsBTC – Crypto Market Hits $200 Billion: BCH, LTC, EOS, ADA Analysis

Bitcoin Exchange Guide – Ethereum, IOTA, Litecoin, Monero leading altcoin gains

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.