A new tool breathes new life into the Crypto tools sector called Cryptolume. This platform is a data-fed tool that provides users with tons of visualized data that provides them insight into the crypto market. It is especially useful for advanced traders.
The reason why this tool is so important is that unlike trading FX, the volumes are usually quite low. Thus, making a technical analysis of the data is usually a bit more complex. The crypto market is also relatively young and thus easy to manipulate. By analyzing the data, it can help you detect whether something is going to happen soon.
Cryptolume In A Nutshell
Cryptolume is cryptocurrency analysis tool. It helps traders to make informed trades and assists a trader to find profitable cryptocurrencies in good time. With this tool, you will be able to save hours daily checking at volumes and prices by using a notification system and web-based graphs.
In short, what you get is a visual representation of what is happening in the market. It is not built as a signal tool but mainly as a research tool. The tool pulls data from exchanges such as Bittrex and processes this data into a visual format. This ensures that you do not need to open hundreds of tabs just to get an idea of what is going to happen. With this tool, you can easily spot where the action is.
The visualization of data from hundreds of digital currencies, especially when combined with RSI data of several timeframes, is quite helpful. This tool also has an alert system into which you can opt-in. As of now, the tool utilizes data from KuCoin, Cryptopia, Bittrex, Binance, Poleniex, and HitBTC.
Some of the features of this Exchange are:
The Cryptolume Cryptocurrency Trading Analysis Tool Dashboard
This is a simple summary of how a certain crypto has been performing throughout a given period. You will also get to learn about the trading volumes. All of this information is presented in a visual format.
Cryptolume Table Of Movement
This is an awesome overview of what is happening in the crypto markets. The page is fed by live data so that you can tell what is happening at any moment. It allows you to see the coin movements in periods of 5, 15, 30, and 4 hours based on volumes and price.
Cryptolume Table Of Events
For serious traders, this is an important tool. This page shows you upcoming news for several digital currencies. You can choose the coin that you have an interest in and see what is happening to it. This is a great tool, which saves you a lot of time. It also shows you the price change of a coin against BTC.
These are just a few of the tools you can get on this platform.
The cryptolume platform stores hundreds or thousands of rows of data daily. This data has to be held for long periods to make the platform useful to serious traders. Besides that, there is monthly overhead, since they run Slack channel support. They also have a dedicated support team to ensure the system is free of abuse and offering quality data. Thus, they have to source for funds from users.