Topic: Sources of information - page 3. (Read 540 times)

using twitter drama and SMA EMA is NOT technical analysis. its deemed as TREND analysis

true technical analysis is studying bitcoins UTXO set of coins moving in the last 2 years (active circulation)
hint(utxo age distribution)

things you can learn:
if mass amounts move suddenly this can be a shift in/out of an exchange. which can indicate the supply in exchanges shifting up and down.
.....
by tallying up the coin amount and the market price at that date of last move. you can aggregate the data to form groups of how much coin last moved between 20k-25k 25k-30k 30k-40k 40k-50k 50k-60k
that way you can put a % sentiment against coins of what people deemed their worth at the last move. to then know what they are not going to dare sell below.

EG if only
2% moved $50k-$60k then 98% moved under $50k so 98% could happily sell down to <$50k and still profit
22% moved $40k-$60k then 78% could happily sell down to $40k and still profit
82% moved $30k-$60k then only 18% would dare sell all the way down to $30k

you can then set a sentiment line of what you think the bottom line which 80% wont go below. which in my example would be $30k
...
looking at the bitcoin richlist of addresses.
the more addresses with balance over 1k. means more people putting funds into an exchanges cold store. this is another indicator of seeing how much supply is going into exchanges
less addresses over 1k coins means the exchanges are doing withdrawals. so less supply on exchanges

..
then you can look at the bitcoin mining cost. and look at the cost of mining at 4cent.
calculate the cost. and set that as a bottomline miners will refuse to sell below.
remember if the price is low near cost. some miners(hobbyminers with higher costs) stop mining and instead buy.. as its cheaper and faster to buy at these times.. so a drop in sell pressure and a rise in buy pressure forms another bottomline support.
obviously when the price is high. miners will not be buying but instead mining. and they would be happily selling for profit. meaning expect prices to go down/not be sustainable to stay up high

once you form the indicators of these base value measures of support. you can then look at the price. and if the price is only 10% above value. then thats good. it means little chance of any further dips.
if the price is 300% above value. then there is alot of non-sustainable bubble. meaning expect a bigger risk of dips/corrections

once you can find a difference between price and bottomline+sentiment value. you can then see how much speculation(trend drama) is involved in this bubble area between value/price
meaning if its low.. then any news can spike a new high.. if its already highly inflated then more news may not affect it much.

then you can start playing around with trend analysis of moving averages to gamble on the ups and downs

It seems that you are trying to implement some kind of trading the news kind of system and for the most part that is not going to work and the reason is that by the time you find out about a particular news powerful people already made their move so the market is already reflecting that particular news and it is too late for you to make profit out of it.

I understand the desire of newbies to try to make even more money than what the market can offer by simply holding your coins but once you have been here for long enough you understand that not only that is the safest path but ironically it is also the one that gives the most profits once you take into consideration all the fees and taxes that you need to pay.

One of my crypto news sources is coingecko which shows the latest crypto relevant articles, It's more like a compilation of the latest news from different websites. Aside from it, I am also using the good old CoinDesk.
If you want to get the news first, Try following the social media accounts of those projects you are interested in so that you won't get late incase you get FOMO yourself.

[1]https://www.coingecko.com/en/news

Thanks for that suggestion.

I would do that someday but not this time. As you have said, there are many of those people who are sharing their analyses and in many ways.

And for this time, that would be enough.

The forum is also a good source that you can find out. Just like your post, you've got a lot of information that helped you out to expand the information that you want to intake.

Always browse through the forum with the right section for what you look at and for trading, it's either this section or the altcoins.

In case you're still open for more. This isn't really site-specific suggestion, but when I trade Bitcoin back then. I just search it and mostly just look on how does the general headline tell about Bitcoin.
Not that I believe most of them, because some of them could be just FUDs which are quite common to destroy the rep of Bitcoin to the global market, but it's one of my ways as it includes some speculation though I don't primarily base my decision purely in those news. I still look at the pattern of the charts.

There's a lot of sources you can find on the internet and it's all free plus this forum has a speculation board to know some information about Bitcoin and most especially to the wall observer thread. You may need a lot of reading since you are just a newbie in this forum I guess.

You can simply search your queries here just use the above search bar in this forum. Most people here do tend to point you on a specific site for more information about all of the crypto currency's information. Reading charts is a good source of information.

There aren't that many good source of information for trading for starters so I guess CMC is the most reliable of them all. I don't trade but I get my news at Cointelegraph and Coindesk although just some quick skims through the article and find the most important parts and I am done.

Thank you very much guys! Awesome list of resources. Much appreciated.

There are different kind of sources of information. But when I was a starter, I spent time reading here in trading section of this forum. Aside from reading, application and practice will also help you to become a better trader. When there are vague terms, tools that hard to understand, youtube videos is also useful.

I also usually visit some sites like news.bitcoin.com and coindesk, trading view also has some bitcoin predictions from btc traders with explanations thus it also help me to review my trading entry.

In crypto market, the first place you can take a look when need information for your investigation are:
https://coinmarketcap.com/
https://www.coingecko.com/en
https://messari.io/
From those sites, you can move forward to visit websites of projects and find out more. I am not a fan of news but if you need to read news, you can check some websites in the [HUGE LIST] Useful Crypto Links !!!

I think cointelegraph is one of the best sources of information for this matter. And as one of the newbies in this field of business here in cryptocurrency, you need to make your own way to study things here. The second is crypto.com and https://www.cryptoknowmics.com/ these are the sources where for me it helps me to give information about Bitcoin and cryptocurrency.

The best source of information you need is to first understand how to read the chart though it just a prediction but it still can be used to detect market trends sometimes, you also need to understand the market season (we are in bullish now and after bullish it market blood bath) and the things that influence the market.

I agreed following institutional whales on Twitter but joining the crypto trading group on social media can be misleading because some group seized the opportunity sometimes to make their followers pump the price of their puppet coin so they can sell it for profit while their followers make lost

I do only visit out these sites.


https://cryptonews.com/
https://cryptoslate.com/
https://blockonomi.com/

since coindesk and cointelegraph had been mentioned.

trading requires knowledge which is best to research and learn yourself. use youtube effectively and learn as much as you wish. alternatively while you are learning, you should follow good traders on twitter and telegram and follow them, take their trades also. i guarantee within a short while you will be able to trade yourself independently.

all end up being the same, that the main referral will and will end up on CoinMarketCap. So you don't really need a lot of resources if you can really understand all the features on CoinMarketCap. not that many sources are not good, but we just need to understand the essence of each source and apply it directly into trading practice.

A similar service to CMC's calendar given above: CoinMarketCal should give you all the necessary details about all the coins out there (or most of them at least), and that includes: Forks, exchange listings, AMAs, airdrops, code reviews, etc. basically anything that could influence the price.

If you decide to invest, Coinmarketcap will be an indispensable service for you, which recently added a new section "The Complete ICO Calendar" - https://coinmarketcap.com/ico-calendar/ I am delighted with this service and find it very convenient to work with.

Added to my favorites. Thank you!

Cointelegraph and Coindesk are both good, price checking sites like Coinmarketcap also have a news page. You can check some other good news sites

https://crypterium.com/news/post/best-cryptocurrency-news-websites

You can try social media as there are people that will comment often, but I do not know much about that. But, depends most on your technical analyses.