Cryptocurrency signals show the information about the supposed and likely to be high (popular thinking) cost change for a certain cryptocurrency. The signals may be chargeable and free. They may help to trade cryptocurrencies effectively, but require the market understanding and do not guarantee the profit – you always need to keep it in mind looking to any signals, chargeable or free.
Cryptocurrency trading signals
What kinds of sources of signals for cryptocurrency purchase and sale may be? All the signals sources may be divided into three large groups: obtained from fundamental or technical analysis and based on insider knowledge. The fundamental analysis emphasizes events, news, rumors, which are supposed to effect the cryptocurrency price, trading volumes and the market generally.
The technical analysis is monitoring support and resistance lines, investigation of typical figures on exchange diagram, other indicators, which may point the potential cryptocurrency price dynamics. The signals based on insider knowledge display the dream of many traders, particularly newcomers. This is the information coming from the major market players: some effective traders and the entire teams, from developers of tokens and cryptocurrency services. Such information is of a special value and for sure supposed to be effecting the token price move to one or another side. The signals suppliers, especially of the chargeable ones, declare their recommendations to be based particularly on insider dealings.
Insider signals are often considered as crucial, and many traders are ready to pay money for them, a powerful lot of money at times. And this demand breeds the relevant supply. There is a huge number of resources selling signals in Internet, formed on quasi insider knowledge. The signal looks like a message on the website, in messenger or social media, about the cryptocurrency, which may be bought or sold at a profit at some point. In the majority of cases these are the forecasts for the near and midterm.
The services of suppliers of insider dealing signals with the reputation of being conscientious is not that easy to distinguish from pump teams, which are much more. Such teams are seeking inexperienced traders, «hamsters», reacting the information about the coming token price growth with agiotage. The new coming traders have the right attitude to obtaining helpful information. But they are not that careful checking the knowledge suppliers, their fingers crossed too often, they are too greedy, so they appear to victims as pump teams.
The plan of pumpers-manipulators is to make traders sell tokens at the certain price at some point. For that the «leak» of insider knowledge is organized, — most often quite realistic, but given with small delay. For successful pumping is enough to throw the information with a second delay. The money of «hamsters» flow to manipulators’ accounts at nice prices. How to detect a pump-channel? There are always a lot of subscribers on the resource, over 5 thousand. The pump initiators start to whip up hysteria in advance, — before some days, sometimes even hours, — «hyping» traders up, announcing expansive price growth of some cryptocurrency. The information about the pump isn’t published till the last moment.
When the longed-for statement appears, traders attack the cryptocurrency exchange with a view to participate in pump. BY this time the pump is already going full speed, the unskilled trader doesn’t look at the price and dynamics or is sold on the currency rate and immediately sells the token. In the vast majority of cases the trader wins nothing or sells at a disadvantage, in the positive territory there the pump organizers, only. They are the only who knows the exact entry points, and they don’t share this information. Some traders may calculate this point by themselves and cash in on pump, some are just lucky.
Free cryptocurrency signals
Free signals may be a pretty nice auxiliary in trading, but you have to treat them with extreme care as the free signals suppliers aren’t that motivated to provide so accurate signals. Assumption is that the maximum precision of free signals is about 40% at best. Nevertheless there are resources of free signals with the large audience, which approved themselves as helpful for trading. Among these are:
Uniton.io — the previous cryptosignals.io, providing traders with recent trading tipps, along with the news which for an experienced trader are the signals alone.
The project provides signals for cryptocurrency purchase on different exchanges, as well as forecasts for price dynamics of some tokens, announces coming events of cryptocurrency market. But now it’s more news and announces aggregator, with no efficient signals on the resource.
The great aggregator of trading information with a screamer advising to purchase or sell cryptocurrency on different exchanges.
The aggregator platform for signals sources allowing traders to create their signals themselves.
In this small list of sources CryptoPing cannot but be mentioned — which suggests to register an account for the user to have the chance to get signals about the cryptocurrency price increase more than for 1%.
Chargeable cryptocurrency signals
The chargeable cryptocurrency signals are often more insightful rather than the free ones, the signals precision is not accurately known, the declarations of accuracy over 80% may occur, which is most unlikely for cryptocurrency market. The problem is that for a trader, which just gets involved into trading, it is difficult to choose a reliable signals source. There are many resources in this market, which simply collect money from trusting users providing the available and free information which is as common as dirt.
Picking chargeable signals you shall consider the period of resource existence, the amount and activity of users on it, the references about the platform. At that please keep in mind, that the references shall not be trusted 100%, the platforms may create a series of positive references themselves, at another point, the competitors or annoyed customers may pay the series of negative references. It bears monitoring the ratings of chargeable signals resources on the regular basis, but not totally trust them, the independence of such rating is always questionable. In the long run if anything, the trader picks the resource at is own risk.
Choosing the chargeable signals source you shall consider the user terms provided, they differ on various websites significantly. The service demo version demonstrating its operation is the advantage. The signals are received in online mode, so you’d better learn reacting on them quickly. It does not mean you shall react any signal at once, this is the mistake typical for new coming traders: for instance, they immediately buy a token after they got the purchase signal, and the token keeps falling in price. The signal is not an imperative after all, but the offer which is supposed to be thought about while the further token dynamics is to be yet monitored.
The resource is held out as the service of signals and analytics. The signals are generated based on insider knowledge , fundamental and technical analysis and provided in a package with the training course. There are three types of program provided, with the price from $20 to $600.
Grants the subscription for traders for one and three months, for this you need to sign up on the website. There is the demo subscription. The team provides original signals, for which it accepts the payment in some cryptocurrencies and fiat money.
«Independent investors club» Golden Island offers the signals packages — short-, mid- and long term ones, based on allegedly insider knowledge at crypticurrency price. The package are chargeable, from $35 to $500.
Presents itself as «the first global channel of insider ctyprocurrency signals », no less. Intending subscribers can become paid members for a month, six months and a year, payment in bitcoins.
Online cryptocurrensy signals
Traders can get signals in the service account, in messengers and social media online. The most popular are the signals provided by Telegram services. Let’s consider channels, which are the most popular for now. There are chargeable and free channels, but mostly the resources offer two options of signals.
Bills itself as a team of experienced traders, which have been engaged in fundamental and technical analysis focused on short- and mid-term deals since 2013. Crypto-Raiders signals are published on the website and in Telegram channel. The payment for them is collected in bitcoins.
The website is focused on the search of the information which may cause the cryptocurrency price growth. The authors pretend they communicate with tokens developers and then report to traders the confidential information which is supposed to cause the price growth. The portion «Back channel» links to the Telegram channel. The payment for the chance to get signals is accepted in bitcoins and fiat money.
According to the information on the resource it’s based on chargeable information from abroad, its founders trade the cryptocurrencies themselves. There is the forecast of the return rate published on the website, along with the offer to continue to the chargeable Telegram channel, the price is 0,008 BTC a month.
Telegram bot, «the first global social trading bot». The service sending signals based on chargeable subscription, which may effect the cryptocurrency price. The subscription costs a pretty penny — from 0.05 to 0.15 BTC a month.
Quite a popular chargeable-free Telegram channel. It’s declared to be possible to pay just for the signals, which were efficient, the free signals one can get also joining to the referral program. The signals are generated automatically, their author is the trader Maxim Liberman. On 8 October the announcement appeared on the channel that access to the bot and database was lost. But the trading tips keep being published on the channel. It’s hard to tell what happened to the bot and why shall someone scheme against Liberman Trading Signals & Tips – there are plentiful free and chargeable resources of signals in the market. But the cryptocurrency market players can remember, that the «fall» of all kinds of cryptocurrency projects starts usually in a continuously falling market. So it alone is a bad signal for those waiting for the price growth.
The large majority of free signals sources are also presented in Telegram, let’s consider them:
It is confirmed on the channel, that the signals activation is 95%, which is certainly beggars belief. Free signals published not daily are based on «VIP-channel» information, which is chargeable of course.
The supplier not chargeable signals only, but also free ones on the channel from the team of cryptucurrency traders, which also suppy signals from the third-party sources.
There are free signals published on the channel, not daily. The analytical information is available, along with inspiring articles about the future of the cryptocurrency market. The channel is placed on record as the channel for the blockchain technology promotion.
Has the free signals channel, from this channel one can continue to the website to study the analytical information.
The signals are presented both on the website and the channel. For traders the channel is more insightful than the website. The resource shares not signals only, but also the training information and tips for trading to be more effective.
«the first global channel of insider signals» has a free Telegram channel with signals for American traders. However mostly the channel shows the profit obtained from some of the previous signals of resource and for some reason extensively hypes the face of the Oscar-winning American actor Leonardo di Caprio.
Free channel – aggregator of the information from 12 sources, with private channel, also free though.
Telegram-bot providing signals about the price behavior against the dollar and trading value of 25 in various cryptoexchanges.
Also free Telegram bot informing users about coming pumps on cryptoexchanges.
We see that the Bitcoin Gold (BTG) price falls. Shall we stock up with? At least we go to the exchange to see what is going on there. It is possible to continue from the Telegram bot directly to the exchange, where the nice conditions for us appeared, after you clicked the link and replied the question «Open this link?» with «yes» (Fig.2). Sure you shall be registered on it. Entering the exchange we see quite an active chat. Chat is not the most safe place, especially for a new coming trader, as it may be used for newcomers to be misled and for local pumping development. It may be turned off by clicking the cross at the top right of the chat, there is not so much of insightful information.
We need to find the pair BTG/USD. It may be done quickly using the exchange search. After the pair we needed is found, we get sure that the BTG price is really falling. Seems resource came through, now we need to decide what to do with this inforation. By clicking BTG/USD line we see the chart on the left side of our profile desktop. It’s not like the fall was significant and the trend will most likely keep moving the same direction and we know nothing what might stop it. The chart doesn’t look like there is the emergency for you to stock up on the «gold BTG», more smart would be rather to wait and see what happens next (Fig. 3).
But supposing that we need particularly this cryptocurrency right now and we go for buying some more BTG. Let’s see what the order book displays. As we see, there is a repeated excess of the purchase over the sale in it. Let’s follow the bulk and participate on the purchase setting in the purchase service the amount of tokens to be bought, along with the price, and clicking «Purchase BTG». As soon as anyone wishing to sell the token at the price offered appears, the transaction will be closed.
Today the Telegram channels are the most quick format for receiving cryptocurrency purchase signals. Choosing the Telegram channel you shall take note, who created the channel (a trader or a team of traders) and how high is the profile of the project initiators in the cryptomarket. You need to perform the channel analysis: specify the amount of its subscribers and views, the existence period, reported signals performance, if there is the feedback, if you can ask a question and quickly get the answer. A trader doesn’t need to subscribe for lots of channels, one-two is enough. These channels do not need to be both chargeable. But anyway you shall not completely trust even a channel with the very high profile, just like the references of traders striking oil on signals of a certain channel.
TOP-3 cryptocurrency exchanges for processing signals
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|$10||1:1000||from 0, 007 points||2013||Review||Visit Broker Demo|
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|2014||Review||Visit Broker Demo|
Best cryptocurrency signals
Yet what signals are the best for trading? In theory the signal quality may play a crucial part in a transaction success. Such signal shall be really special, forecast either the price growth or its definitive fall. The signal shall be released in time, its source highly reputed. Most likely the quickest appearance of such signal will happen on a chargeable Telegram channel. Or it may not appear.
At the same time arguably, not the signals themselves effect in the maximum results, however quality they might be, as much as the skill of interpreting them right and react properly. With such skill even the free, available information is enough for effective cryptotrading, while in the absence necessary experience the most insightful chargeable signal will be useless and result just in a waste of money. This gives us an idea of need of compulsory preparatory cryptocurrency trading training and skill of analyzing the information, even obtained from a chargeable resource. The signals shall be just an auxiliary trading tool for an experienced trader, such traders never deal with signals alone.
Also you need to keep in mind that the cryptocurrency price dynamics conforms with the common cryptomarket trend, which in its turn is driven by bitcoin price dynamics, which takes about 54% of the whole cryptocurrency market volume (sheets 1, 2). There are no secret techniques and insider dealings, capable to make any token to run counter to the trend for long. The information able to break the prevailing trend of bitcoin rate and the entire cryptomarket becomes available substantially immediately for everyone trading, one simply can’t help but see it.
The new coming traders are suggested to deal with tokens of top -150 of cryptocurrency rating, better even with 10-20 main ones. For such tokens all forecasts, analytics and signals are plentiful, available on open sources, with no need to pay the further information. The chargeable signals may be needed by experienced traders trying to take on the trend with certain unpopular tokens, even with shitcoins, not bothered to waste time for analyzing price dynamics of these tokens, ready to lose some money with no critical effect, if signal will not go off. Such traders invest money in dozens and hundreds tokens, some of them bring the profit, some not.
Now the cryptocurrency market experiences the depression (comparing to the situation about a year ago), the bitcoin can’t for some months overpass the psychologically crucial mark of $7000. If the trend changes and the bitcoin starts growing, and the period will be long enough, everyone can cash in the market with no auxiliary signals, how it was by the end of 2017. And please note that no chargeable or free resource forecasted the lengthy period of the bitcoin price falling, along with the entire cryptomarket since January 2018, which is still a bit bouncing. At that the leading gurus- cryptoenthusiasts repeatedly published the declarations about the new bitcoin price explosion.
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Sheet 1 Price change of cryptocurrencies top-20 to dollar for 1 hour and for 7 days, 13.10.2018, 21.00, according to Coinmarketcap data.
Sheet 2 Price change of cryptocurrencies from 456 to 465 top 500 to dollar for 1 hour and for 7 days, 13.10.2018, 21.00, according to Coinmarketcap data.