INTRODUCTION

First I want to thank steemit for this opportunity. I am a crypto enthusiast and although medical school has hampered my ability to be active on steemit, I still try to make out time to be here. I enjoyed @stream4u's lecture because I personally subscribe to technical analysis as a trader and some of my techniques I have shared. I cant wait to add to my knowledge. Having read his post, I have decided to do the homework. My answers are as follows:

1. What is the role of a Technical chart?

The technical chart shows us the movement of price, from the price, up until the present. It shows us regular patterns on the market, how the market is being traded, price action, and how the price behaves. It is used for the technical analysis by traders and investors to know when and if to buy, hold or sell. It can help pick nice entries.

2. Why do you think Technical knowledge is important?

Technical knowledge is very vital for a lot of reasons, my favorite being:

Entry and Exit points:

In the image above, STEEM bounced at the support at point B and spiked to Resistance at point A. Jude and John, novices in the crypto world bought the spike, out of fear of missing out- FOMO. When the resistance held and the price was pushed back to the support Jude was crying about his loss and sold his coins. John had faith and decided to hold. Now their friend, Stanley who knew technical analysis didn't buy the spike but waited for it to dip to support level before buying at point B. John and Stanley let the coin buy to its current price. They are both in profit, but Stanley is making double. Why? He used technical analysis to anticipate the retest and bounce, thereby finding a good entry point. The same can be said about exit points

Learning Buyers and Sellers behaviour:

Who moves the market? People. People buy and sell, this moves the market, and the technical chart can be said to be a representation of how traders and investors are reacting. The technical chart allows you to identify zones where buyers love to enter the market and where sellers tend to join. In the image above, STEEM formed a channel, in a channel, there is a support, where buyers tend to join, and resistance, where sellers come in to push price down to the support.

3. Uptrend or downtrend, which one is good for buy a coin, explain why?

Uptrend. Going against price action is never advised unless you spot a clear reversal pattern. If the market is generally a buy, I will buy, because price action always wins. Unless the trend is too steep, then its a pump, and a dump will most likely follow.

4. Check any Crypto Coin technical chart and explain what you find/understood from the Chart with screenshots.

From this chart I recognized an uptrend. I used the Fibonacci tool. The swing high of the price is at the 0 fib level, and serves as resistance here, price dipped to the 0.283 fib level, and used it as a support. The market has bought a lot recently, and is looking to consolidate between 0 - 0.283 fib level, using it as a channel.

I look forward to the next technical class.

cc: @steemcurator01
cc: @steemcurator02
cc: @stream4u