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Why Tradingview is good for charting.

CryptoLion

CryptoLion

1. Compare multiple bitcoin exchanges quickly with Tradingview

Compared to major commodities / currencies, pricing inefficiencies are more common in bitcoin. This is because of less liquidity and few institutions conducting high frequency trading. This opens up arbitrage opportunities to profit from pricing differences between exchanges.

To spot these opportunities, traders can overlay TradingView’s bitcoin charts and instantly trade on BTC. when a price inefficiency is found. In the above example, there is a slight delay in the bitcoin exchanges following each other. Specifically, at 8:30 Bitstamp was slow to follow the sell-off on Bitfinex (candle sticks), creating an opportunity to short bitcoin at BTC.sx.

Without the speed and reliability offered by TradingView and BTC.sx, this minute-long window of opportunity can be easily missed.

2. Advanced technical analysis features on Tradingview

Given that bitcoin is a highly speculative asset, a lot of price movements are based on greed and fear cyclesand technical analysis. Other major currencies are issued by central banks that partly influence exchange rates when adjusting monetary policies. However, bitcoin has no central bank. Consequently, the price is driven entirely by supply and demand, making it critical that bitcoin traders identify technical analysis trends.

Thankfully, TradingView supports of 100 pre-built trading indicators that can be applied to a chart with a single click. For bitcoin traders, in particular, the advanced indicators are useful to reveal hidden trends.

In the above example, Ichimoku Clouds have been used to reveal a bullish or bearish trend with strong support.

So click the link below, and try it for yourself.


Check also our Top 250 Cryptocurrencies

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