From analysis on the potential path ahead for Bitcoin to the rollout of a new developer site for the XRP ledger, here’s a look at some of the stories breaking in the world of crypto.
Economist and crypto analyst Alex Krüger is mapping out the lines of resistance and support for Bitcoin. According to Kruger, the $10,000 mark is a crucial psychological line on the horizon.
“I use Bitmex for levels (and charting), as that’s where most of the bitcoin-USD liquidity is. The first level is a fib, not as meaningful IMO as prior highs and key psychological levels (e.g. 10K).”
Before $10,000, Krüger says he’s eyeing $9,600 as the most immediate technical hurdle for the bulls and $9,000 as the first line of support.
$BTC just traded new year highs.
Next major resistance levels: 9600, 10000, 11500-11750, 13000, 15000, 17400, 20000, moon.
— Alex Krüger (@krugermacro) June 16, 2019
$BTC support levels: 9000, 8800, 8500 (minor), 8100-8000, 7600-7400, 7200, 6800, 6400.
Have all the moving averages below as well for added support. The CME weekend gap is at $8475 (CME first futures trading at a $100 premium over spot).
— Alex Krüger (@krugermacro) June 17, 2019
If Bitcoin can break past $10K, Fundstrat co-founder and head of research Tom Lee says he expects an outbreak of FOMO (fear of missing out) that could bring Bitcoin well beyond a new all-time high.
“FOMO really occurs when the price achieves a level that’s only happened 3% of the time. So in past cycles, that level was $8.50 in 2011. Today that number is $10,000 because Bitcoin prior to today has only traded above $10,000 for 87 days…
So we said once it achieves this level,