Topic: Whale alert tool (Read 237 times)

Even if joining such group is free, you still could lose your money.

The owner and whale always make first move before announce any big sell/buy, then the owner and whale would either :
1. dump their coins at high price (since other member buy the coins after announce a big buy)
2. buy tons of coins at low price (since other member sell the coins after announce a big sell)

Personally i'd avoid such group since it might cause FOMO

If I remember correctly, there are open source Telegram / Twitter bots that do more or less the same thing. They give you a signal if there is a big movement on the market (and which wallet it is) around ~ 1 minute after it happens. If that's the only thing that they do for you, I don't think it's worth the money.

Here's the bot that I'm talking about after some digging:
https://twitter.com/whale_sniper
https://t.me/WhaleSniper
https://twitter.com/whale_alert
https://t.me/whale_alert

Some of this has been mentioned above.

that is better although i still don't see any point in that. you can see it on the exchange itself in the order history which is usually at the bottom of each coin's page. not to mention that you can only find out about it when the whales dump their altcoin for example, in which case it is already too late to act!
even if you wanted to act based on that, setting up a stop loss order that executes automatically is a lot more effective than joining a group or subscribing to an alert.

they are showing their "guess" about who both the source and the destination addresses belong to. for example when they say "a whale moved X amount to GDAX" it may as well be GDAX itself topping up one of their addresses in their hot wallet from one of their cold storage addresses to pay the withdrawals.

you see the blockchain analysis in its most advanced ways that big analysis companies perform for a hefty price is not reliable to begin with. what these sites have access to and use is basic and free chain analysis that is a much poorer version of that and is the least reliable form.

p.s. if you look at some of the amounts the report that is supposedly being dumped by a whale on an exchange you can see how big a lie it is. sometimes they are in the millions. nobody in his right mind trusts an exchange with millions of dollars at once. not to mention that they can never withdraw millions of dollars from bitcoin exchanges without raising red flags on all the banks involved in the transactions and having their account suspended!

I used Newscrypto.io which offers whale alert as one of their tools. maybe i expressed myself wrong, sorry for any inconvenience.

Well i can't really argue since i don't have much knowledge, but they are showing the whale movements fo three exchanges. Bitmex, Bitfinex and GDAX.

I'm using Newscrypto.io, well i had to buy their tokens but aside from that i paid 2 USD for a week of their tools. It is ridiculously cheap imo. I'm still quite new to the crypto world i did not establish a solid trading system yet. I'm trying to use the tools they offer on the platform, but mostly i'm looking at their crypto prediction and combining it with Trading view.

i don't know the tool you use and purchased, but i think better you learning "real analysis" in btcnews or maybe coindesk.
both of them have analisys class to read candle in bitcoin, but bitcoin market is not forex trading, you can't use only indikator or candle analysis, you have to take advantage of bitcoin news and event, its very helping you to decide when you buy and sell bitcoin

There is a telegram group named "Whale alert". They give alerts whenever there is any big sell or buy in any altcoins. However the group was free to join and it was useful if you wanted to know if there is big pump or dump in any coin. But there is no need to pay for this service and if someone ask money for this, just ignore it.

Exactly as you say, there is no practical use for this, except to be informed that a certain amount of coin has been sent from one address to another. As far as I could see, there are quite a number of such sites and tools, and the price is about $30 a month for a little better service than what is offered for free.


I can't say for sure, but this site ranks first in search results, it is possible that the OP caught the first bait.


Warning: The page above is not a suggestion or recommendation, and I have nothing to do with it.

Classic scam method that people have been doing since time immemorial. Make the noobs drool over "whale indicators" and sell this vaporware to the dumb ones to make some money. The worst part is that even if you understand that you got scammed, you have nobody to report it to and even if you do you wont be able to save others because there will always be that few naive individuals who will believe everything that someone tells them on the internet and take it for granted.

So how much did you lose? Maybe provide some more information about where you found about this and if you have any info of these scam channels. Would be a good way to raise some awareness about these even if it does not help much for those who actually need it - evidenced by the fact that these scammers still exist at large.

Could you please clarify what the Whale alert tool actually does?

Welcome to trading, lol. Kinda new now, before paid premium signals, now whale alert tools.
So, it's also something like some premium paid trading signal which giving you a signal when to buy, at what price you buy or sell.
Friendly advice, since you are here in Beginners & Help, probably you are starting as new. Go first some fundamentals, especially in trading which is also a very risky way to earn more bitcoins.

there has never been any such thing as "whale alert" and there will never be unless all exchanges unite and then alert you whenever a whale deposits a large amount of fiat or bitcoin to buy or sell bitcoin respectively all the while holding his order from going through until they alert you!

otherwise everything else called "whale alert" is just a scam. there is no way to know what a whale is doing. all these tools do is that they simply find some transaction that is large and then alert you as if it is a whale moving bitcoin to the market to dump!
the reality is that 99% of the cases these movements have nothing to do with whales or with exchanges.

sounds like you got ripped off. what platform and how much did you pay?


i've seen some pretty inaccurate "whale alerts" from misidentified wallets. take them with a grain of salt.

and no, they aren't enough to reliably trade from. i would acquaint yourself with more TA so you can better read momentum and trends. what is your current trading system?

Hello

I have recently purchased a membership on a platform that also offers trading tools and I get to use the Whale alert tool. I understand what it does but it is enough to only look at that?

Or do you have to combine it with other indicators as well? Sometimes I also open their Inflow Indicator just to see if the money flow is positive but again, is that enough?

Thanks for your advice.