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.

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.

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.

Source: Coin360

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

Bitcoin

CoinDeskBTC move toward $7,400 could be preceded by a price pullback

NewsBTCShort squeeze may sustain crypto rally

Ethereum

CoinCodexEthereum could blow past $200 with sustained break above $190

Captain AltcoinETH is the most attractive altcoin at the moment

XRP

AMBCryptoLong-term support for the XRP at $0.29

CointelegraphXRP continues to trade in $0.27795–$0.33108 range

Litecoin

HackedLTC approaching point where the market is attractive for bottom picking

Captain AltcoinIs this the ideal time to long Litecoin?

Bitcoin Cash, EOS, Cardano, Monero, IOTA

NewsBTCCrypto Market Hits $200 Billion: BCH, LTC, EOS, ADA Analysis

NewsBTCEthereum, IOTA, Litecoin, Monero leading altcoin gains

 

This article was first seen on the Daily Hodl and can be found here: https://dailyhodl.com/2019/05/11/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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