10 Best Crypto Tools: The Ultimate Checklist [2023]

1. Charts

Charts are an essential part of the trading journey for any trader. Your ability to analyze a price chart is going to make a huge impact on your trading and crypto trading. Tradingview is probably going to be the destination of choice, although to be fair many cryptocurrency exchanges do have very good charting software.
Looking at charts can be very subjective, however, it tends to work because the market follows similar cycles and patterns, and once the technicals and the fundamentals start to align then you typically start to see institutions could in to ride the trend and this is where your ability to predict price moves via charts really comes in handy.

2. Order Book Data

Order Book trading is very popular in crypto and FX. Knowing where a huge block of buy or sell orders is can be very beneficial to you as a trader, especially if the technicals are aligning with what the Order Book is currently saying. Another useful aspect of Order Book trading is seeing into the future. For example, larger market participants may place their orders at a large distance away. Knowing what they are expecting can be very useful indeed.
My only caveat with the Order Book style of trading is spoofing. Large orders can be placed to mislead and confuse traders. This is something traders really need to be careful about.

3. Hash Ribbons

Hash Ribbons have become a great tool for knowing when miners are selling or buying. The indicator has two very distinct periods, accumulation and Capitulation. During the Accumulation period, miners have moved into a new phase, which suggests that they are expecting higher prices in the future and are happy to accumulate. Conversely, during the capitulation phase, miners are expecting lower prices in the future and are starting to exit the market. This indicator can be good for timing major price trends, although it should be noted that numerous false signals can also occur.

4. MACD

The MACD indicator is a classic indicator that can be used on any asset class. The MACD abbreviation stands for Moving Average Convergence Divergence. With this indicator, the histogram and the signal line are the main components of the indicator. Typically, the price should be moving in line with the price, meaning there is no obvious difference between the MACD and the price movement. However, when the indicator starts to differ from the price movement this is when Divergence is formed. In my opinion, MACD divergence trading is amongst the best trading strategies you can master because the divergence in trading is almost always reversed and the divergence style of trading can be used for both new entries and new targets.

5. Williams Alligator

The Willaims Alligator indicator is a personal favorite of mine. This indicator really helps capture when a new price trend is about to start. The beauty of this indicator is that once it starts to fire up a buy or sell signal on any time frame there is a very high degree of accuracy that a sizable price move will follow.
One thing to note is that you do not want to trade against this indicator when it starts to give a signal. Pay special attention to the signals on a daily, weekly, or monthly basis. The signals on these longer time frames are rare, but they do start to give signals the trending moves can be enormous and also explosive.

6. Daily Active Addresses

On-chain data is a major factor in cryptocurrency trading and one of the best metrics for analyzing on-chain data is Daily Active Address Active. The reason this metric is a staple of crypto trading is that it lets you know how many traders are interacting on the blockchain for the particular cryptocurrency you are tracking.
Very simply, a rising rate of Daily Active Addresses is positive because this shows that adoption is rising and thus more addresses are being added. Conversely, failing Daily Active Address activity is a bearish sign and it means that less adoption and action are happening.

7. Dormant Circulation

Dormant Circulation is another important on-chain metric because it tracks a particular set of coins that have not moved on the blockchain over a period of time. For example, Dormant Circulation can be tracked over 90 or 180 days, or even 1 to 5 years. 
It is noteworthy that when a major spike or movement in Dormant Circulation occurs for 5 year holders it can be classed a significant because these long-term holders have decided to move their coin. When 90-day holders move their coins it could be classed as short to medium-term traders moving their coins or maybe even booking profits.

8.Sentiment

Sentiment is very important for traders as it show the mood of the market and in particular extreme sentiment biases can be seen as great trading opportunities. The reason that sentiment is so important in trading is because the herd or retail money tend to be on the wrong side of the trade and exhibit poor market timing. Fading what retail traders are doing is bonafide trading strategy that has been working for decades.
Some of the very best sentiment tracking metrics in the cryptocurrency indusry are Weighted Social Sentiment and the Crypto Fear and Gread Index. 

9.Supply Distribution

Supply Distribution data helps tracks what the different categorizies of holders are doing. For example, Supply Distribution data can help track what whales are doing and what what small coin holders are doing. Whales are typically seen as the smart money and if they are accumalting in large amounts or their behavior suddenly changes it can be a wonderful leading indicator. Tracking what retail are doing is also important as fading their habits is a viable strategy.

10.Exchange Flow Balance

Exchange Flow Balance data is a valuable on-chain indicator as it highlights whether traders are moving their cryptos on or off exchanges. Typically, when large amount of Exchange Flow Balance activity takes place it can signal an incoming trend continuation or a trend reversal. On-chain traders look for large outliar spikes in this metric to indicate if large price moves are likely. Signifcant spikes in this metric could also be a signal for large amount of fear or greed in the market.