Most cryptocurrencies’ prices are gaining or losing regularly. Finding the right trade is becoming more difficult day by day. Binance signals / crypto signals help traders and investors determine profitable trade and investment. However, following trading signals can be a good solution to this problem if traders are willing to take risks and explore this relatively new niche within the crypto community. This article looks at the top 5 crypto signals providers for binance and how choosing the right provider is crucial to whether you can make a return or not.
What are Trading Signals?
Trading signals are instructions sent directly to a person to indicate which cryptocurrency to buy. A trading signal would contain the following information:
- What cryptocurrency to buy
- The prices are safe to buy the token
- Target selling price to achieve the profit
- Tips to exit automatically to mitigate losses.
Naturally, Binance signals providers provide a range of prices to the traders. For example, $10000 to $10100 a BTC is safe to buy.
The sell-targets or profit-targets are the price point that traders/investors should look to sell. Naturally, crypto signal providers provide 3 target prices for achieving the profit. You will be notified of any price hit by your provider.
Stop Loss is a mechanism that allows you to automatically exit a trade to mitigate losses. A stop loss is a standard practice that every good signal provider should use.
If everything goes well and the signal provider is trustworthy, you can count on a good profit.
How Are Trading Signals Generated
The professional crypto buying and selling alerts are generated primarily based on each technical and essential analysis. With buying and selling signs, you may additionally generate your alerts, however, they are simply professional. Because there are tens of signs you may use to generate those alerts, the trick additionally lies in understanding the maximum applicable in your circumstance.
The best crypto signals are based on a combination of automated and manual trading strategies. The best paid crypto signals for trading are based on technical charts, fundamental analysis, and information collected by bots (mainly and efficiently) from social networks.
Make a Chart of Trends:
Select an indicator for which you want to generate a price trend over a selected period on a crypto charting platform such as Tradeview. You have to select the indicator and time frame on a given trading pair, such as BTC/USD, and the chart will automatically be generated on these charting platforms.
Decipher a price pattern:
Once a chart is created for a particular indicator, a pattern is inferred on the chart as indicated by the indicator’s trend lines. These guides on how to know the price action points are the hardest to crack when creating cryptocurrency buy and sell signals. There is so much knowledge and experience here. Various chart patterns to look for on a chart include support/resistance, large move, consecutive candles, momentum, butterfly, ascending/descending triangles, head and shoulders or inverse head and shoulders, up/down the channel, descending/ Rising Wedge, Double Down/Up, Triple Down/Up, Bull/Bear Flags, Square, Bull/Bear Pennant, Gartley, ABCD, and 3 Point Extension or Retracement.
Predict the price action
The predictable price mostly falls within the target price. The analysis shows an actionable trading price which is basically a prediction.
Apply price action
Most crypto signals are generated and passed to auto trading bots. Traders can also generate and apply their signals manually, but it is a limited task as such analysis would not contain as much diverse and relevant market information as it would be efficient bots, pulling information from multiple sources in a matter of seconds.
- Be sure to check whether they are based on professional analytics including technical and fundamental analysis, news, and market condition indicator for pro-crypto signals.
- Start with the lowest packages to ascertain their benefits and usability.
- Crypto signals are based on well-known, researched-based indicators such as Moving Average Convergence Divergence, Relative Strength Index, and many other indicators.
Spot Vs. Leveraged Trading
Spot trading means instant purchase and delivery of the token. When most people say they want to buy tokens, they mean spot trading. This is the most common way to get exposure.
For example, Amilly wishes to buy BTC using $1000. Just think, 1 BTC price is $10k. So you will get 0.1 BTC in your wallet using $1000. Now the price of BCT increased to $11000 and Amilly decide to sell her BTC, she will get a nice profit of $100.
Leveraged trading is the opposite of spot trading. In leveraged trading, you are buying and selling tokens in the form of a futures contract, to be more specific, a perpetual contract. It is a simple agreement to buy or sell tokens at a predetermined price at a specified time in the future. In the perpetual contracts, they don’t have any expiry date. So it can be held for an indefinite amount of time.
Signals: Going Short & Long
Going short means you are speculating that the price of a token will decrease, whereas going long means you are speculating that the price of a token will increase.
In the process of short can be summarized as follows:
Borrowing a token from a willing lender and then immediately sold at market price, the price of the token then declines, you repurchased at a lower cost then returned to the borrower. For example, you borrow 1 BTC from Amy which you then immediately sell at market price of $10,000. The price of 1 BTC then falls to a price of $8,000 at which point you buy back the 1 BTC then return it back to Amy. The net result of this is a $2,000 profit for you without any trading fees.
In the process of longing can be summarized as follows:
You buy a token at a specific price, the price of that token increases, then sell it at the new increased price and make a nice return.
Here I’m sharing the list of top 5 crypto signals providers for binance:
- CryptoSignals.wtf : Price range $59/month
- Signals Blue : $229.99/month to $899.99/lifetime + integration and API cost
- 4C Trading Signal : $59/monthly to $179/yearly
- CoinSignals : 0.01 BTC to 0.1 BTC per year
- CryptoAlarm : $249/month, $949/year, $1249/lifetime
In summary, trading signals are a lucrative way to generate returns in what has been a tough cryptocurrency investment climate of late. Signal providers tend to post signals related to a specific cryptocurrency exchange.
It is also important to understand the most important differences between the position and the leverage of the trade and the associated concepts.