Crypto Academy ||Season-2 ||Week-6|| Homework Post for @stream4u|| Revers Strategy & Price Forecasting
Technical Details on Reverse Strategy?
First, we talk about what exactly reverse strategy is? It is strategy when price of particular crypto asset is strongly travel downward and also strongly grow up within 24 hours. Other word the Price of crypto asset faces the strong bearish and bullish within 24 hours. Sometimes price of crypto is increased and decreased but it does not effects on the volume of particular crypto. In this situation whatever decision, we made for crypto is definitely goes wrong. So, in this situation we avoid making decisions.
Reverse Strategy is only applied when the price of crypto asset faces the long bearish and bullish situation within 24 hours. This bullish and bearish situation may be about +20% and -20%.
How we implement Revers Strategy?
When the particular crypto coin faces the high bearish or bullish situation, then we do not make decision within the 24 hours. After completing one day cycle, we will make strategy. If we make strategy within the 24 hours then it will surely responsible of loss.
When the cycle of 24 hours just completed then before it just completed the price of a particular asset jump back at a particular point. This situation refers that any buyer or seller exists in market to buy and sell this particular asset.
In this situation we should note the Price of an asset at opening, closing and highest point. The most important point is closing point that we should notice at price jump when the price jump back just before cycle completed.
When we implement Revers Strategy?
This strategy is dependent on Closing price and Opening price of next day. When the Opening price is just near to previous closing price then it will create an opportunity of buy position. Consider the previous low point as stop loss and target as previous high point.
If the previous high point touched by price of an asset, then you should hold and see. If it crosses the previous high point then it ups to you, you can exit at any point.
Example Chart of Revers Strategy
In this chart you see the long price bearish/bullish. In this situation I will show you how can I implement the revers strategy. As I mention above that revers strategy is very important to make trade with stop loss, it will be low point of previous. As I mentioned above, this strategy only applicable when price is bearish and bullish of 20% or more. In the following chart of Bitcoin you can see the reverse strategy is applied.
Review of COINGECKO Site
In this question we discuss the fundamental information about the CoinGecko. We will discuss what is CoinGecko and What are the feature of CoinGecko and also discuss, how it is helpful for us in doing crypto trading. Let’s start with first point that what exactly coingecko is?
What is COINGECKO?
CoinGecko is the Website that provides us all the information about particular crypto asset. It provides the information about technical analyses and detail about fundamental analyses. It provides all the necessary information about particular coin like volume and capitalization. It helps us by providing the all the possible information about particular crypto asset. By this information we can enhance the performance of our crypto asset.
How COINGECKO Can Be Helpful for you in a Crypto Market?
It is helpful for me in crypto trading because coingecko is best website that provide enough information about crypto asset. I can make good decision by the examine the performance of different coin on this platform. I can check Price and trading volume of particular asset and many more things. That help me to make decision. I can make decision on the bases of seeing the ranking, price and trading volume on CoinGecko site.
There are many currency exchanger scammers available in market. CoinGecko site help me most to find out the trusted Exchanges. Currency converter option help me most to find the worth of particular asset in to another asset. In this way it saves time and also save effort that is consumes to find out another source of conversion.
Explore COINGECKO features with information.
- We can easily find the total crypto coins that are currently available in market.
- It also provides us the detail information about different exchanges that are used for trading.
- In the main menu we can see the Exchange option where we can find out the trusted exchanges that provide currency exchange features. Exchanges are on this website are trusted not need to be worried about funds transfer.
- It provides us details about fluctuation that is being notice in last 24 hours. And also details about volume, market capitalization and overall performance of particular coin.
- We can also find out different types of coin categories on this website.
- In Category option, we can find the different categories like Exchange-based token, Decentralized Finance and Centralized Exchange Tokens.
- Here we can see the Developer tab, where can find out the information about particular project ups and downs. We can also check the trading volume of crypto asset. Here all coins are listed on the based of trading volume and current price of asset.
- We can search particular coin to get the information about. The thing that is often used in exchanges are currency converter. CoinGecko has feature of currency converter option that helps us to measure the worth our asset in other currencies.
- We can check the new coin that are added in crypto market. It provides information about new coins that are recently added.
- We can also check different types of publications, in which we can read about new articles about different cryptocurrencies. These are updated articles that helps us a lot.
- Here is another feature that is more helpful for user. That is Filter. We can search any type of coin that is belongs to particular category. We just add filter and result will show according to our choice that we enter in filter.
Price Forecast for next week of any crypto coin.
I choose TRX coin for price forecasting. I will explain how to price forecasting. In this question I will forecast for next 1 week. I choose TRX and USDT as a pair. More thing that we need to know about TRX are mentioned below.
Basic Information about TRX coin
TRX is token that is developed in 2017. TRX is created by Justin Sun. Person who involve in online trading is familiar with TRON Network. TRX token is own token of TRON Network. TRX Support Blockchain technology. TRX is one the coin that has lowest transaction charges. We can say that it is altogether free. His parent TRON Network has TRC20 Token that is used by Blockchain for operating the transactions. Here is the more information that are taken from website that is CoinGecko.
According to CoinGecko States the current information of TRX at Homework time.
Current Price: $0.116210
Volume 24h: $3,890,218,014
Ranke:21
Circulating Supply: 71,660,220,128 / 100,850,743,812
Market Capitalization: $8,315,988,843
Why Would I choose TRX for Price Forecasting? Explain Reasons.
I choose TRX token because this token is own coin of Tron Network. I choose TRX because it is compatible with smart contract. The speed of execution of transaction per second is very high. Major cause that attracts me to select TRX is Low fee price of transaction. In this platform we can send our content without paying any cost. This is why I choose TRX token for Price forecasting.
Detail about Technical Analyses
In Technical Analyses we examine the behavior of candle sticks that is based on the price behavior. Our decision making is based on the technical analyses. This technical analysis shows the behavior of particular coin in coming day. All the process is based on examine the Supports and Resistance in chart. Technical analyses use for doing the price forecasting of particular asset. Technical analyses guide us to weather we make an entry to market or not.
Technical Analyses of TRX for Next week
I decided to do technical analyses TRX with the pair of USDT. I will predict the expected price of TRX for coming week. I also find out the lowest point and highest point. In this I will predict the expected price of TRX for next coming week.
For better experience I use CoinGecko Website for examine the chart patterns.
Technical analyses done on the bases of past ups and down activities of TRX. I will predict the price by examine the Candle sticks, Supports and Resistances.
Analyses of TRX
As we can see in the graph chart, our asset faces the Resistance at the 0.13896. It means that after the resistance it is possibly support occur after this resistance. In the graph we see the two time of at this place asset faces resistance but after the resistance the support will occur. So, this resistance born an opportunity for us to buy.
Overall TRX become decreases. As we can see in the graph the supports are faced by TRX twice in a previous record at the low level of 0.10062. These supports tell us that there is no reversal trend in previous record in this stage. If it is present at this stage then it provides good opportunity to buy. And maybe it would be future high at the point 0.13896.
It could be downtrend expected in coming week at level of 0.10062. It creates good time for us to buy at price level of 0.10062, it could be increased to 0.13896 which creates good profit for us. Maybe its price could cross the 0.13896 level and make new high at 0.16990 Tether.
Results Based on Technical Analyses for Price Forecasting of TRX
According to my perception that I have observed in technical analyses based on the previous price, support and resistances, Price of TRX for next week is 0.13896 USDT. It maybe cross the this price and reached at highest point 0.16997.
Next Week high point is 0.16990.
Next week Low point is 0.10062.
If we want to make good profit and avoid huge loss than we need to know about reverse strategy. It is a good strategy for making good profit and avoiding loss. If we are involved in Crypto Trading word than, we need to know CoinGecko website that provides us enough information about all the technicalities of crypto. Then we want to do trading. Then we should know about price forecasting of particular crypto asset.
THANK YOU
Thank you for joining The Steemit Crypto Academy Courses and participated in the Homework Task.
Thank you very much for taking participate in this class and keep continue good work and gain good grade
Grade : 9
Thank you Dear professor for kind response.
Sir you figure out that i am not write Conclusion properly. Conclusion is not a part of this homework post. I completly answered all the given questions. Conclusion is not considered as a question.
If professor clearly mention that conclusion is compulsory, then i will write it in detail.
Professor @stream4u give me 9 rating and delete the comment after seeing your already placed comment.
Yes, the comment was conflicted.
Ok Sir. Sometimes it happens. Sir @yousaf Give me 8 and You give 9 rating , it doesn't matter. Way of marking is different of every individual. So the thing that matter is "kind Response" that is given by both respected professor.
Thanks You
you are respected for us,, your work is good, and after discussion with
@stream4u , we reviewed your grade, and our first and last effort is to encourage every writer,, and your quality work is our success,.. keep continue good work and we are ready to always support every steemian , it is my first responsibility and duty.
Thank You very much sir.