Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
The Daily Hodl
No Result
View All Result

Crypto Analyst: Bitcoin Extremely Overextended But Not Finished Yet – BTC, XRP, Ethereum, Litecoin Forecasts

by Daily Hodl Staff
May 27, 2019
in Trading
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎

‎‎‎ ‏‏‎

ADVERTISEMENT

One of the most popular crypto analysts on YouTube says two key indicators show Bitcoin (BTC) is overextended – but that doesn’t mean the current rally is over.

Nicholas Merten (aka DataDash) told his 314,000 subscribers he believes BTC is eyeing a push to $10,000 before a potential 40% pullback.

“Is Bitcoin overvalued? Well, a lot of the indicators will tell you that. Obviously the RSI is showing that it’s overextended… We’ve also seen NVT is extremely overextended. We’re not setting new highs on it in this relative sense. We had that back a few days ago, so transaction volume is increasing. But we’re still way overextended. This is very similar to what we saw back in 2014.

So even with all these things, it’s time for Bitcoin to correct, right? Well, no. I wouldn’t say that’s exactly the case. We very much could go on to the big even at $10,000 which is a very key level price-wise, but it was resistance back here in May of 2018, almost a year ago. So, it wouldn’t be too radical to think that if it’s already done this, that it’s probably going to go to $10,000. Now I wouldn’t set your sell orders exactly at $10,000 or try to time the market. I’m not going to recommend you do anything. I think most of us agree that hodling is probably one of the better ways to play this market. Stop trying to play it and get too crazy.

ADVERTISEMENT

I just like to cover the price action just to guesstimate where we’re going and what would be some good pullback points. But I think $10,000 is very likely and then after that we’re going to have a very similar correction down 40% – what we saw in the last parabolic run-up back here in 2015. And that’s going to lead us down to a range where we can actually go ahead and be able to pick up some nice cheap Bitcoin.”

Right now, Bitcoin is up 9.39% at $8,743 according to Coin360. Ethereum is up 7.13% at $268.27 and XRP is up 9.99% at $0.4208.

Source: Coin360

Technical analysts are checking Bitcoin’s chances of hitting $10K as altcoins rise with the tide.

Bitcoin

CoinDesk – Bitcoin price backs off 12 month highs, but bias remains bullish

Crypto Briefing – Bitcoin has a strong bullish short-term trading outlook

ADVERTISEMENT

Ethereum

NewsBTC – Ethereum price rallies alongside Bitcoin, with more upside likely

FXStreet – ETH/USD bulls have room for push back into $300 territory

XRP

Live Bitcoin News – XRP signaling upside acceleration above $0.4300

FXStreet – Strong support for the coin is created by psychological $0.40

Litecoin

Ethereum World News – Litecoin rally could extend above $120

Blockonomi – Interaction with the upper resistance at $122 could be on the horizon

Follow us on Facebook            Join us on Telegram            Follow us on Twitter


Check Latest News Headlines


ADVERTISEMENT


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.
Submit a Press Release

Crypto Livewire – Press Releases

  • Mogul Brings NFTs and DeFi to the Film Industry, Announces Access Pass Sale
    March 5, 2021
  • eToro and DS TECHEETAH Change Face of Sponsorship With Unique Profit Only Deal
    March 3, 2021
  • Unifi Farms Beta Launches on Unifi Protocol to Pioneer No-Stake Farming
    February 26, 2021
  • Bang Bang: Critical Factors Fueling Rise of the Retail Investor
    February 25, 2021
  • How Traders Make Money in Both Bull and Bear Markets on BigoMex
    February 25, 2021
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$49,369.00
$49,369.00
2.21%
Ethereum
$1,539.65
$1,539.65
0.67%
Binance Coin
$229.38
$229.38
0.47%
Polkadot
$34.08
$34.08
3%
Cardano
$1.19
$1.19
7.89%
XRP
$0.463505
$0.463505
0.84%
ADVERTISEMENT

Spotlight

  • Coinbase Names Bitcoin Creator Satoshi Nakamoto As Potential Risk to Its Business
    February 27, 2021
  • Retail Goliath Rakuten Now Allows Users To Pay With Bitcoin, Ethereum and Bitcoin Cash
    March 3, 2021
  • Crypto Bull Mike Novogratz Dramatically Increases Bitcoin Price Forecast for End of 2021
    February 28, 2021
  • One of the Most Exciting Altcoins on the Market Gaining Real-World Adoption in Digital Payments, According to Coin Bureau
    March 4, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2021 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro

© 2020 The Daily Hodl

×
We use cookies to give you the best online experience possible. Continue browsing if you are happy with that, or see how to manage cookies.