Crypto Analyst Says Full Bitcoin Retracement Likely – BTC, Ethereum, XRP, Litecoin Forecasts
After briefly crossing $13,000, Bitcoin has retreated hard and fast to its current price of $11,721 – down 9.84% in the last 24 hours.
According to COIN360, Ethereum is down 9.13% at $283.26, XRP is down 10.38% at $0.3535 and Litecoin is down 13.02% at $103.75.
With Bitcoin falling sharply, crypto analyst Alex Krüger is outlining the next key levels to watch.
According to Krüger, the leading cryptocurrency is now likely to go through a full retracement, bringing the price of BTC back down to $11,400.
This is what $BTC is trading at the moment. If $11900 goes, would expect full retracement. Key intraday level above is $12300. pic.twitter.com/dBTSZcEZuY
— Alex Krüger (@krugermacro) July 10, 2019
As for when the long-awaited altcoin season might begin, Krüger says there may be hope on the horizon.
He believes alternate crypto assets may now be in oversold territory versus Bitcoin after today’s big dip in the market.
Today's crash *could* be the end of the downtrend for alts vs BTC. pic.twitter.com/rYtWCTERul
— Alex Krüger (@krugermacro) July 10, 2019
Analysts across the board are drawing Bitcoin’s support levels as the overall crypto market turns red.
Bitcoin
CoinDesk – High-volume close below $12,000 would invalidate short-term bullish setup
FXStreet – BTC/USD seeks higher support after conquering $13,000
Ethereum
Crypto Briefing – Daily time frame shows buyers struggling with major resistance
XRP, Litecoin, Bitcoin Cash
FX Empire – Litecoin, XRP and Bitcoin Cash try to recover as Bitcoin draws interest
Blockonomi – XRP could extend losses before fresh upside
FXStreet – Litecoin recovery under threat due to the move below $120
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