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Digital gold as Bitcoin is often called is the first cryptocurrency and has revolutionized the world of finance. The first year after the great economic crisis that hit the world in 2008 was the year bitcoin was born. BTC is designed as digital money that will be decentralized and anonymous and thus will not be influenced by global financial institutions.
The idea has changed a little over the years, but bitcoin is still the engine of the entire branch of the financial boom that arose with the emergence of a huge number of cryptocurrencies.
Many ordinary people have become millionaires overnight just because they believed in the potential of cryptocurrencies and had one of the currencies in their digital wallet, the value of which increased a thousand times. This made everyone want to be a part of that story.
The number of currencies that have been created since then has grown every day at an incredible rate. At the time of writing (November 2022), there are 9290 cryptocurrencies on the well-known crypto website coinmarketcap.com. That’s a huge number. It is clear that only a small number of those currencies will actually find their place under the crypto sun and manage to survive.
Hodlers Guessing Which Coin Will Be Next Big Thing
This brings us to the fact that it’s increasingly difficult for people to get rich just by holding a currency and waiting for it to increase in value a thousandfold. It is simply very difficult to guess that case among 9290 possibilities.
From the moment when bitcoin was first found on the crypto exchange and when it was possible to buy and sell BTC directly on the exchange without any intermediary, parallels began to be drawn between classic stock exchanges or forex markets with crypto exchanges. In the beginning, crypto exchanges had only a few currency pairs, but as time went by, so did the exchanges. They introduced a large number of pairs that could be traded and then they introduced the possibility of trading futures. People then realize that can trade crypto and make money, a lot of money…
BTC or altcoin or shitcoin, what will make you rich?
There is some silent partition in all the cryptocurrencies that exist. The first currency and the one by which everything is measured that is often called a cryptocurrency by itself is bitcoin. All other cryptocurrencies are called altcoins. Although there are important differences between altcoins. Those cryptocurrencies that have been around for longer and have somehow proven themselves in the market and are backed by teams of developers, lobbyists, and loyal hodlers have the right to be called altcoins. Those currencies that have a very small market share, do not yet have the trust of the general public or are simply plagiarisms of some other often equally irrelevant currencies are called shitcoins.
Trading altcoins is a good thing
Traders of cryptocurrencies very often look at crypto with completely different eyes than ordinary mortals who just hold them. For traders, it doesn’t matter whether that currency is bitcoin, altcoin, or shitcoin, the only thing that matters is whether it is possible to make some profit by trading those same cryptocurrencies. We often have a situation where the market dominated by altcoin trading is the most agile and in that market, you can earn much more than just trading bitcoin.
So, it’s obvious that trading altcoins can be very profitable. Many traders take advantage of the high volatility that exists in cryptocurrency prices and does day trading crypto or even intraday trading. They try to have trade entry and trade exit within a day or even less. Traders who enter and exit trades quickly using leverage are called scalpers.
Crypto screener will find good coins for trade
The biggest problem for cryptocurrency traders is that they have to keep an eye on a huge number of currencies, timeframes, and parameters. Basically, it is impossible to do something like that without the help of a program that will do it for you. Programs that monitor the market are called market screeners or market scanners. Some of those market screeners work for multiple markets and some only for one market or even only for one crypto exchange.
That’s exactly what the Cryptoland Scout program is like, which is a great relief for people who practice crypto trading on the world’s best crypto exchange called Binance. Binance offers a large number of cryptocurrencies that can be traded, and Crypoland Scout is a crypto screener (crypto scanner) that will greatly facilitate the monitoring of all currencies. Binance has more than 130 pairs in Binance futures market and you can use leverage up to 125x which is the biggest leverage in crypto exchanges.
What is Cryptoland Scout?
Cryptoland Scout is the market scanner for Binance exchange that finds hidden structures in market chaos and allows you to simultaneously use price action, ABCD patterns, Fibonacci retracement, relative strength index, all four types of RSI divergences, Heikin Ashi and Smoothed Heikin Ashi candles. It collects data in real time and sends alerts for all trading opportunities. Powerful filters allow extracting meaningful signals from data noise. Cryptoland Scout also works on all time frames and supports more than 330 cryptocurrency trading pairs in the spot and more than 130 trading pairs in the futures market. In one word – all you need to find winning trade.
Who are Cryptoland Scout users?
Scout users are traders who trade cryptocurrencies and use technical analysis when trading.
- Price Action
- Fibonacci levels
- RSI Divergences
- who does not believe in fancy indicators that themselves determine the entry and exit points of the trade
It’s kind of logical. Good traders rely only on fundamental indicators and don’t weigh in on fancy indicators that won’t work out for a long time.
Our idea when we created Scout was to have all these basic parameters in one place, but at the same time allow us to view all timeframes and all currency pairs on one screen. That’s it. No more and no less. So let’s summarize what Scout is.
Cryptoland Scout is a trading tool that combines all key technical analysis parameters on one screen for all currency pairs in all time frames.
Therefore, Scout provides points of interest that are a good starting point for more detailed technical analysis.
Since Cryptoland Scout monitors all timeframes starting with one minute, it is a real intraday screener and is very often used by traders who do scalping trading.
Cryptoland Scout is most often used in combination with some of the tools such as Tradingview that graphically display price movements. A trader who uses technical analysis should be familiar with chart patterns and other means of evaluating market movements in order to make profitable decisions.
Why would a trader use Cryptoland Scout?
Because only Scout allows you to have all the necessary information from technical analysis on one screen for all (interesting to you) currency pairs in all time frames.
How does a trader make money using Scout?
Every trader who uses TA – technical analysis has his own trading strategy. In order to enter the position, some things need to happen in the market. It can be a series of market events like:
- the price should be above EMA 100
- the price had an immediate drop
- the drop should be within the zone FIB 0.5 to FIB 0.618 (it fits in the golden pocket)
- The “golden pocket” zone should be on the support line
If traders have that situation then they will enter in Long position.
Well, that’s the way smart traders work. They seek a confluence zone and do not enter into a trade if they can find one. The trick is that there are a lot of pairs in the market and it is very difficult to follow all those pairs, especially if the trader wants to trade on several time frames.
By using Scout, the trader is put in a position to see all interesting pairs on one screen and thus not miss good opportunities for trading, and then analyze more deeply only those that meet the set criteria. In this way, the time required for the analysis of pairs is greatly reduced and only the points of interest are analyzed.
You can check this article to go into more detail.
Cyber Security is most important in the digital world
Cryptoland scout is not a trading bot, therefore there is no connection between your trading account with Binance. This is very important because there are no security issues. If you want, it is quite possible to use Cryptoland Scout on one computer and to trade on the Binance exchange on a completely different device.
So, why do successful traders love to use Cryptoland Scout?
In this way, we see that Cryptoland Scout is practically a booster for every strategy out there. You will get more points of interest in a shorter time and with more accuracy. So, don’t waste time. Download Cryptoland Scout and start using a better and much faster way to find good trading opportunities. The best way to get to know Cryptoland Scout is to watch this video.
If you ask some of our clients why they love to use Cryptoland Scout they will always tell the same thing: