Coindicator

Coindicator Updated 

I've followed this stock for a while now and have watched it move more or less in tan tum to the crypto market, however this correlation has since been broken as of mid April. It has fact traded downward to $2.07 CAD today meanwhile Bitcoin continues it's steady climb to over $9.7k, which represents nearly a 100% increase from mid-April. This is an very unusual...

Coindicator Updated 

Silver is at an imminent breakout zone years in the making. This likely might just be the trade of the year is not the last few years. The equilibrium is getting very tight with SLV making it's first weekly higher low since December 2017. Furthermore the macro fundamentals are very bullish for precious metals. The Feds also recently reverse course on rate...

Coindicator

Yesterday night I shared an trade idea saying Raiden Network Token is showing signs of accumulation and to watch for a breakout. Here's another alt coin that has a very similar pattern to keep your eye on. Large drop before consolidating within a clearly defined trading range over the last 6 months on increasing volume. Daily likely just set a higher low at...

Coindicator

RDN topped out at an impressive $9 before it's falling in an epic fashion to less than $0.30 since January 18th. However, it's seems to have found a temporary bottom and have been trading range bound between $0.19 - $0.45 over the last 6 months and has begun to make higher highs on the daily time frame on increasing volume. This is one of the clearest sign of...

Coindicator Updated 

Shorts are at 42,000 a record high meanwhile we are currently sitting right above the 200 Weekly MA. Sentiment is extremely low but we must keep in mind that we are long overdue for bounce and with this many short outstanding and strong support nearby; it makes for a good set-up for bulls. As of typing we are at $3500, the next rally could easily blow past...

Coindicator Updated 

Shorts are too comfortable. We are near the same Bitcoin Long/Short Ratio back in April in which we saw Bitcoin go from $6,500 to $11,600 after the epic short squeeze. Yesterday night might have looked like as just a weak bounce but the interesting part was that shorts increased by roughly 2.5, when we dropped from $6,200 to $5,900 and since the unimpressive...

Coindicator Updated 

I believe there is a good chance that we will see a substantial rally within the next 1-3 days. Not only are longer terms RSI in oversold conditions but margin positions are very favorable for Bulls. The last 2 times we seen margin long/short ratio go as low as one, saw significant moves to the upside. In fact, they were near perfect indicators for picking the...

Coindicator

Volume has steadily been decreasing along with a volatility as seen in the chart. This is a classic pattern prior to a breakout. T I know a lot of people were looking at the weekly triangle or equilibrium pattern drawn from the peak in early March including myself. And to say the least the bounce that we expected around the 7k has been rather unimpressive and...

Coindicator Updated 

This recent rally seems to be more than just a short squeeze as I had originally thought, but we are still not out of the woods. The downtrend on the daily is still intact. The next major resistance is $9,200, breaking that level would be very meaningful and would definitely change my opinion on the longer-term time frame. With that said, the RSI on nearly all...

Coindicator Updated 

We are only an hour away from the EOS airdrop. Based on previous forks and airdrops, there is a good chance we'll see a dump shortly after the snapshot. Especially given the recently EOS pump, it further supports the thesis that many traders have bought EOS for the free airdrop coins. Daily RSI are close to overbought levels and open margin short to margin long...

Coindicator

This is the highest volume we have seen for a long time and definitely sets up for a potential bottom. However, I am still not fully convinced that this is the bottom for a couple of reasons. The price action is predominately a result of large number of margin shorts being squeezed and not long-term spot buying. Total of 16,000 Shorts closed on bitfinex today...

Coindicator Updated 

We had an impressive rally over the last two days, but if you zoom out a bit we are clearly still in a bear trend. In my opinion the rally is mainly attributed oversold conditions and with the large number of open short positions that are getting squeezed. We were oversold for almost all time frame just 2 days ago so it shouldn't be a surprise that we were due...

Coindicator Updated 

My previous trade recommendation was to go short on LTC because of the lack of support once $137 was broken due to the lack of major support. It has since played out nicely and now would be a good time to consider a long position. Litecoin's RSI is oversold on every time frame with a decent resistance around $116-114, depending how long it takes to go down...

Coindicator Updated 

Usually, I wouldn't consider shorting when RSI is practically oversold on every timeframe. However, on the back todays negative LitePay news and the lack of major support until $107-106 once $137 is broken; this could be a great risk to reward short. I expect bounces to be fairly weak if recent sentiment is any indicator. And while I do think stop losses are a...

Coindicator Updated 

I consider adding to short position at this level if price doesn't rebound quickly from this $8,650. This looks like it's going to go deeper. My current short-term price target is 8.3 - 8k. Further bearish speculation. The Mt.Gox Address by Kobayashi just moved 7,000 BTC to Bittrex. Take what you will from it, but to be safe I definitely wouldn't go long...

Coindicator Updated 

Anywhere between $9,050 to $9,150 would be a great conservative area to entry a short position. In fact, I would say if you were aggressive and willing to take more risk, you could even start scaling in right now around the current $8,950 level. The daily 200 MA is currently sitting around the $9,150 and should be a major area of resistance. Especially given...

Coindicator

A quick look at the long-term trend on the daily. While we had a decent rally as of late, I am not yet convinced that the bottom is in. In order to reverse the longer term downtrend will need to see the daily make higher lows. If we close below the must hold level, it would be pretty telling that we are still in a bear trend. Additionally, I believe the 8k...

Coindicator

The bear trend is still intact, though I believe the bounce will continue and we may get one more leg up toward 9 - 9.2k. In addition to be a psychological level, the daily 200 MA also slight above the 9k, so that I would anticipate 9 - 9.2k to face major resistance. I do not expect the bulls to break it on this current as sentiment is still rather negative. ...