#CryptoMarketWatch #CryptoMarketWatch
Top 5 Tools for Monitoring the Cryptocurrency Market
CryptoQuant
CryptoQuant is a powerful tool for analyzing on-chain data for both Bitcoin and Ethereum.
The platform aggregates important data when it comes to price movements.
This includes exchange data such as fund flow to and from exchanges, holder profit ratios, and estimated leverage ratios.
RSI Ranges
Relative Strength Index (RSI) ranges are indicators on the price chart.
Technical analysts use them to assess whether an asset is in overbought or oversold territory.
This allows analysts to more accurately predict the price level at which the asset is likely to reverse direction.
It is a strong indicator when used with the Moving Average Convergence Divergence (MACD), as it can allow you to set precise market entries and exits.
On-Balance Volume (OBV)
Traders use on-balance volume to predict price changes by observing volume changes in relation to the asset's price.
In short, this indicator allows you to identify whether there is increasing buying or selling pressure.
Doom Indicator
This notorious financial analyst has a track record of always being wrong about $BTC market movements.
Just for your information, if the ratio rises, it means that institutions are increasingly buying Bitcoin, indicating upcoming bullish momentum.
