This article will show you the best Bitcoin (BTC) Technical Analysis tool because the crypto market works 24/7 and investors need to stay on top of the game at all times if they hope to be successful, especially in the day or swing trading. Usually, cutting corners is not the way to go and your own technical analysis (TA) is the best weapon you have when wrestling the crypto space, but sometimes one can rely on other sources of info.
We will take five of the best such websites, review their abilities and compare their pros and cons.
These websites are:
- TradingView
- DailyFX
- FXStreet
- FXEmpire
- Coinalyze
TradingView - The Number One Bitcoin Technical Analysis Live Tool
For all of you who are not yet introduced to this magnificent platform, TradingView is the most famous provider of Bitcoin Technical Analysis tools and charts backed by other perks its users can find useful.
Regarding the real-time TA, TradingView is next to none as, in one place, traders can view graphically represented buy and sell meters according to moving averages (MA) or oscillators as well as the summary of the two. Of course, these graphics are backed by the individual numbers presented right underneath in exactly the same categories. TradingView neglects nothing as it lists readings in almost every possible oscillator:
- RSI
- Stochastic %K
- MACD Level
- Bull Bear Power
- Williams Percent Range
- Momentum
- etc
When moving averages (MA) are concerned, TradingView is also as thorough as it gets. All combinations you can imagine, this platform has it:
- Exponential Moving Averages from (5) to (200)
- Simple Moving Averages from (5) to (200)
- Ichimoku Cloud Base Line (9, 26, 52, 26)
- Volume Weighted Moving Average(20)
- Hull Moving Average (9)
Besides each of the readings, there is a suggestion if, according to that exact number, a trader should buy or sell Bitcoin, or expressed neutrality.
On top of everything described, there is a Pivots section where TradingView provides Classic, Fibonacci, Camarilla, Woodie, and DM metrics in order to present the most important supports and resistances.
Moreover, the live BTC TA on TradingView can be viewed in the span between one minute and one month. Of course, in regard to each timeframe, the buy/sell suggestion can vary highly. On the side of the screen, users can even access the latest news about Bitcoin, but only if you are signed up on TradingView.
Pros and Cons
Pros
- Highly detailed
- Intuitive interface
- Graphical presentation
Cons
- SignUp needed to access full features
DailyFX - A little short of a professional Bitcoin Technical Analysis Live Tool
DailyFX doesn’t go in as much detail as TradingView as it lacks depth in almost every previously described category to be a relevant live Technical Analysis Tool. Their live TA is based on IG’s internal data analysis, which, by default, is much more shallow than the all-encompassing TradingView’s approach. Since IG deals with trading products instead of the real assets, users have to also take that fact into account when following their advice.
However, the UI is simple and intuitive as the central feature shows the long vs short ratio on the IG trading platform, in percentages. DailyFX, while not detailing any indicators or oscillators, shows pivot points on an hourly, daily, weekly and monthly basis. Still, interestingly enough, it doesn’t use Fibonacci metrics while doing so but only:
- Classical
- Woodie
- Camarilla
- OHLC
Underneath the TA section, there is real-time BTC news, helping users to get a clearer picture of the BTC market conditions.
Pros and Cons
Pros
- Focuses on trading products
- Simple UI
Cons
- Seriously lacks depth
- Focuses only on trading products
Relies on only one source of information
FXStreet - A Well-Known Live BTC Technical Analysis Tool
FXStreet is a well-known name among forex traders but also other types of investors as it provides an in-depth insight into the market they are covering. Such is also the case with their section dedicated to live Bitcoin technical analysis.
While they do not provide such an extensive detail as TradingView, FXstreet comes close while being somewhat more complicated to navigate because of all the extra content present on the website. Still, the main live TA is user-friendly with the live price chart as the focal point.
Similarly to DailyFX, FXStreet brings Pivots or, as they call them, Key Levels, meaning the main upcoming supports and resistances. Alongside those, there are classical BTC rates in relation to top fiat currencies such as USD and EUR as well as top cryptocurrencies like ETH.
What sets FXStreet apart from the competition is a really intuitive prediction line with the ability to switch between 15-minutes, hour, 4-hours, daily and weekly forecast.
To support the Bitcoin section on the website there is a long-term prediction made by their in-house specialist as well as a few guides on BTC mining and trading.
Pros and Cons
Pros
- Simple UI
- Enough details
- Expert’s opinion
Cons
- Too much content on a single page
- Not so much depth as TradingView
FXEmpire - A Serious Contender For a Top Bitcoin Live TA
Among the platforms that really take a thorough approach towards the live Bitcoin technical analysis, we have to name FXEmpire as one of the leaders. Just like TradinView, it has separated Moving Averages from (5) to (200) and trend indicators such as:
- MACD (12,26,9)
- ADX (14)
- RSI (14)
- Williams %R (14)
- Stochastic RSI (14)
- CCI (14)
- ROC (10)
- etc
In each of the mentioned categories, the color represents a buy/sell signal – red for sell and green for buy, nicely portraying the current trend. All the important Pivots are also there along with a fantastic visual representation visible on the screenshot below.
The overall “verdict” is highlighted in the red or green frame and can be viewed from a one-minute to a one-week timeframe. Since FXEmpire has everything that even a professional trader needs, packed up in a nice looking natural interface, we have to say that it is well worth a try as a true TradingView alternative.
The only thing that FXEmpire lacks compared to the mentioned giant is the “ideas” section where users can share their trading tactics.
Pros and Cons
Pros
- Lots of details
- Great looking
- Fantastic Pivots visual representation
Cons
- No trading ideas
- Ads (barely visible)
Coinalyze - 100% Crypto Dedicated Live Technical Analysis
If you are looking for something that is only dedicated to crypto trading but is still the professional trader’s Bitcoin technical analysis tool with all the data you may ever need, Coinalyze is a place to go to.
Despite the fact that it isn’t so visually appealing as the competition (classical black and white), it is more than easy to navigate through its wealth of information.
After showing you the basics such as the current price, 1-hour to 30-days highs and lows, Coinalyze takes you to its trend sections which determines if Bitcoin has the potential to grow or drop through Exponential and Simple Moving Averages in a span from 5 minutes to one day, backed by a nice summary at the end of the table.
Since Coinalyze’s live TA is divided into easy-to-read tables, the second one shows if BTC was neutral, overbought or oversold in the same time spans as trend analysis does.
What sets it apart from other covered platforms is that at the end of its BTC live TA page, Coinalyze has the section that automatically directs users towards the latest spotted candlestick patterns along with their open and close times, such as:
- Belt-holds
- Dojis
- Harami patterns
- High-wave Candles
- Death/Gold Crosses
A bonus on the platform is a trading tutorial blog written by their in-house experts fully committed to TA in cryptocurrency trading.
Pros and Cons
Pros
- Dedicated to crypto
- Simple but functional design
- A lot of depth
- Tutorials
- Latest spotted candlestick patterns
Cons
- Lacks buy/sell “verdict”
- No visual presentation
Conclusion
In the end, we have to say that, regarding the amount of provided information and details in their live TA, TradingView is still the go-to platform. However, others such as FXEmpire with their well-built interface or Coinalyze with its crypto-specialized approach can compete.
Still, as always, it highly depends on your personal preferences which one you are going to pick as your point of reference. Lastly, always remember that these generated live TAs can be deceiving and it is always best to learn to technically analyze a cryptocurrency yourself and always do it before making a trade.
The post Where to find the Best Bitcoin Technical Analysis Live Tool appeared first on Cryptocoinzone.
