Change your CoinTracking theme: Light: Original CoinTracking theme - Dimmed: Reduced brightness - Dark: All colors inverted - Classic: Harder font without anti-aliasing, smaller margins, boxes with borders Dimmed and Dark are experimental and may not work in old browsers or slow down the page loading speed. Please change back to Light, if you have problems with the other themes. Bitcoin (BTC) sentiment analysis tools can be powerful. Used correctly, they can allow traders and investors to gauge whether crypto markets (and their participants) are feeling bullish or bearish. Here are four tools all the links I use on a regular basis which help me to stay up-to-date in the Bitcoin and cryptocurrency space and help me to make better trades; helping to increase my wealth. 1 - Cointelligence It has several features: a) Ge.
Bitcoin analytical tools3 Bitcoin Sentiment Analysis Tools: How They Work & How to Use Them
Two examples would be Coinigy and TabTrader. The Coinigy platform offers wallet management, portfolio tracking and management functions, execution access to over ten exchanges, and chart analysis tools, all in one dashboard. TabTrader is arguably one of the most popular on-the-go trading apps for digital asset investors as it provides a range of features, including chart analysis tools, and execution access to 30 cryptocurrency exchanges.
For active traders who cannot sit in front of their computers the whole day, TabTrade provides the ideal solution for on-the-move trading and market analysis. If you are a big believer in momentum, the RSI Hunter may be a valuable addition to your technical analysis tools. While the Crypto Fear and Greed Index is technically not a technical analysis indicator, it can still be highly useful for active bitcoin traders who can use this metric to gauge market sentiment.
Using a range of factors, the Fear and Greed Index can provide you with insight into whether traders are feeling fearful or greedy at this point in time. If you are using technical analysis as a basis for your bitcoin trading decisions, you could use bitcoin trading bots to execute your strategy in an automated fashion even when you are asleep. Once you have found a technical analysis-based trading strategy that works, using a bot is arguably the best way to execute it as bots take emotions and potential manual errors out of the equation.
The two most popular free, open-source bitcoin trading bots are Gekko and ZenBot. Gekko was launched in as one of the first bitcoin trading bots and has managed to remain a popular option for bitcoin traders today. Using the Gekko bot, you can build, backtest, and execute a number of bitcoin trading strategies based on technical indicators. Since its launch in , ZenBot has continuously been improved by a number of developers, which has led the bot to become a favorite among traders. Aside from the standard functionalities of backtesting and live execution of self-developed trading strategies, the ZenBot also offers a paper trading mode to live test strategies and configurable orders.
There are dozen of crypto YouTube channels that you can tune into to the learn more about bitcoin, altcoins and the blockchain. There are also channels for fans of technical analysis. Josh Olszewicz is a digital currency analyst and writer runs a YouTube channel where he shares his insight into the latest price trends based on technical indicators of his choice.
The Bitcoin Sentiment Index , developed by Bitts Analytics , is another social media sentiment indicator that aims to provide insight into the way crypto investors feel at any given time. This may provide fascinating insights. However, most traders will likely agree that it is not difficult to read. When the indicator line drops, the market sentiment is turning bearish. Ultimately, it is important to bear in mind that market sentiment does not always dictate future price developments.
Even if, for example, all of the indicators mentioned suggest that now is a good time to buy bitcoin, the price could still fall suddenly due to other factors.
Therefore, as discussed further in this article , bitcoin sentiment indicators should ideally be one of many of the tools in your arsenal of crypto market weapons. To use them as the sole basis of your trading strategy could be quite risky. The rise for BTC showed another very interesting pattern. Unlike the beginning of the previous BTC cycle we replicated, the end of the previous cycle, as in this cycle the addresses started to decline right after the first impulse and the cycle we had a significant gain in address till about mid cycle in And near the top we had another very steep drop.
This time only 1 week before the actual topping out of price. Moving Averages are exceptionally useful tools used to identify momentum and are used by various Algorithms as levels of Support and resistance. The MA Weekly currently Stands at So if we were to judge a floor where price would be met with a lot of demand, we can know there will be decent buy support at for BTC if price gets there.
The SOPR a very simple indicator. By plotting the SOPR of all spent outputs combined, aggregated by the day in which they were spent using blockchain date , this graph can be produced. Currently, according to the SOPR analysis, we are moving between a sideways red period and a bear market as the SOPR is starting to get rejected by the 1 level.
The best time to buy is when the difference goes into Negative i. The indicator is color coded with Red being the best time to buy and blue being the time to sell. We currently stand at. The movement of price would define directionality from here. The indicator suggests we are close to a point of value but not exactly there. Bitcoin is the first-ever scarce digital object to exist. There are a limited number of coins in existence and it will take a lot of electricity and computing effort to mine the 3 million outstanding coins still to be mined, therefore the supply rate is consistently low.
Stock-to-flow ratios are used to evaluate the current stock of a commodity total amount currently available against the flow of new production amount mined that specific year. For store of value SoV commodities like gold, platinum, or silver, a high ratio indicates that they are mostly not consumed in industrial applications.
Instead, the majority is stored as a monetary hedge, thus driving up the stock-to-flow ratio. A higher ratio indicates that the commodity is increasingly scarce — and therefore more valuable as a store of value.