Day 1: Tools for Crypto Market Analysis

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Welcome to the exciting start of your “14 Day Crypto Mastery” journey! Today is Day 1, the start of an adventure where we will dive headfirst into the fascinating world of cryptocurrencies. We’ll explore some of the most groundbreaking tools out there – tools that will set you apart from the crowd. You’ll discover tools that many haven’t even stumbled upon and that will catapult you into the elite circle of the top 5% of crypto investors.

My mission is crystal clear: to equip you with the ultimate toolkit. It’s not just about preparing you for the dynamic crypto universe; it’s about empowering you to navigate that universe with confidence and unrivalled skill. From this moment on, every tool we explore is a step towards becoming a smarter, better-informed investor.

So are you ready to get started? Today we’re going to look at the most important tools for analysing the crypto market. These are not just tools, but your key to a deeper understanding of the market that will allow you to make decisions that are not only informed, but incredibly strategic. Let’s get started and change the way you view and interact with the cryptocurrency world. Are you ready? Let’s dive in!

Tools for Technical and Fundamental Analysis

Charts

Charts are crucial for technical analysis. They help you visualize price movements and trends.

  • TradingView: A popular platform I use daily for viewing various financial charts. A must have for both beginners and advanced traders.
  • DEX Screener: DEX Screener provides real-time charts and data for decentralized exchanges.

News

Staying updated with the latest news is vital for fundamental analysis.

  • CoinDesk: A leading news source for everything related to crypto. It’s very useful to stay up-to date. The only downside is that they post so much, that you loose sight to what news actually matter.
  • InvestmentExplorer: But that’s why we offer a daily news summary at 7 PM UTC – only covering the 3 most discussed crypto headlines. And if you want to read more, the original articles are linked. This can save you a lot of time every day.
  • CryptoExplorer AI & InvestmentExplorer GPT: Chatbots that allow you to ask questions about the news, making it interactive and informative. The AI assistant can also find news about specific topics for you.

Fundamentals

Understanding the underlying factors of a crypto project is key to assessing its value. Using the following tools can help you to find information.

  • Project website: Okay, that’s self-explanatory, but what’s better than a first-hand source?
  • InvestmentExplorer’s Crypto Screener: We already have a huge database of crypto ratings which you can access in real-time as a course member!
  • CertiK Skynet: Provides security insights and assessments of blockchain projects.
  • CryptoExplorer AI: Offers coin ratings to evaluate the potential of different cryptocurrencies. Like our Coin-Screener, but more interactive and with background information.
  • Whitepaper of the project: Always a valuable source of detailed information about a project’s vision and technology.

On-Chain Data

On-chain data provides insights into the transactions and activities on the blockchain. Unlike a blockchain explorer which provides data in a more raw format, these page create visualizations of this data to help us more better decisions.

  • CoinAnk: One of my favourite hidden gems. A lot of valuable free data. They offer more data for free than all the other tools!
  • Coinglass: Similar to CoinAnk, a platform for various crypto data, also a lot of free data.
  • Glassnode: Offers a variety of on-chain data and metrics. Costly, but used by professionals. For 95% of private investors, this is a little too much data and too expensive.
  • IntoTheBlock: Provides intelligence on crypto assets for non-crypto experts.
  • WhaleMap: WhaleMap focuses on tracking large crypto holders’ activities. They have a lot of useful data but they also cost $$$:

Financial Data

Access to financial data helps in making investment decisions. Data on the order book, spot and futures data and much more.

  • CoinAnk: Already mentioned above, very useful tool for various financial data insights. Liquidation and order book data included for free.
  • HyblockCapital: Provides in-depth financial analytics, unfortunately most of the data is only available for paid users.

Other Cool Platforms & Tools

DeFi

When it comes to anything to do with decentralised finance, these tools offer valuable insights.

  • DeFiLlama: A comprehensive tracker for DeFi projects.
  • Dune: Dune offers analytics for blockchain data.

Blockchain Explorer

In a blockchain explorer, you can see every transaction, every wallet and its holdings. You can also see the distribution of the tokens among the holders.

Portfolio Trackers

  • CoinStats: Track and manage your crypto portfolio. Super important so you don’t lose track of your holdings. You definitely start for free, if you want to get more detailed reports and have many wallets and exhcnges, you can upgrade. If you do, make sure you take advantage of our 55% discount.
  • Delta: Similar to CoinStats, Delta has mobile apps for both Android and iOS versions with more than 2000 coins waiting to be added to your portfolio.

Overall

  • Messari, CoinMarketCap, CoinGecko: Platforms providing comprehensive data on various cryptocurrencies.

Practical Example

Identifying Market Trends and Signals

Let’s start with a general summary before we dive into the details over the next few days. How do you use different tools?

  1. News and Updates: The most important, but also the most difficult aspect is to read the news and upcoming updates and understand their potential impact. Although most information is priced into the market, there is always a degree of uncertainty. This can range from macroeconomic updates such as interest rate changes to news about specific crypto companies or projects.
    In later lessons, we’ll look at how to better research, filter out the crap and assess the potential impact. If you’re an IX Pro member, we’ll take care of most of these things for you.
  2. Social Media Analysis: Keep an eye on social media to understand current discussions and trends in the crypto world. Follow many accounts at the beginning and filter out the accounts that don’t offer any added value over time. Don’t trust anyone blindly, just use their information as a basis for your own and to save time by keeping up to date with new trends.
  3. On-Chain Data: Monitoring the actions of large holders (whales) can provide valuable insights. It is also interesting to see how certain groups of holders behave. For example, if long-term Bitcoin holders sell, this is not a good sign. You can find data like this here.
  4. Liquidity Zones and Order Books: Analyzing these can reveal potential support and resistance levels, allowing you to find good entry & exit points.
  5. Hard-Indicators: Tools like the MVRV Z-Score can be useful, but we’ll cover this in more detail in a later lesson.

Remember, understanding and effectively using these tools takes time and practice. As we progress through the “14 Day Crypto Mastery” course, we’ll explore many of these tools in more depth and learn how to integrate them into your market analysis strategy.

Today’s Tasks

  • Test CoinAnk
  • Try out our Crypto Screener
  • If you haven’t already use a crypto portfolio tracker, register for a free CoinStats account
  • Share your experiences in the comments below (they’re private – so don’t worry). Also share if you’re missing something or have a question you might have.

That’s it for today. See you tomorrow!

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