Define Death Cross and Golden Cross in your own words. And what is the significance of DC and GC in trade? And what effect do these two have on the market?(in your own words.)

ANSWER

The GC

Golden Cross is a trading strategy that visualizes the uptrend move of price or gives buying signal while using the Moving Average Indicator
It is considered a bullish move when the 50-day MA (Moving Average) indicator crosses the 200-day MA and rises above it.
When the market is in a bearish season, the 50days Moving Average will cross below the 200-day average, and the Golden Cross happens when the 50-day moving average crosses the 200-day moving average, and a new season will emerge for taking a long position because it is a signal for a bullish run

The GC significance and effect

The GC through chat with the MA indicator expresses a bullish season and the demand for s specific asset is way higher than the supply, which eventually has a direct impact on price and causes the asset price to go higher.

The Golden Cross method has the benefit of allowing you to enter a trade at the best signal on a shorter timeframe with the smallest feasible stop loss, and the opportunity to observe a continuous trend on a longer timeframe.

The DC

Death Cross is a trading strategy that visualizes a downtrend move of price or gives a selling signal while using the Moving Average Indicator (MA) and it interprets a bearish movement.
The Death Cross method pictures a downtrend in price.
The Death Cross approach can be used to open sell transactions in the same way that the GC technique can be used to open long positions. This strategy follows the same trading rules as the GC techniques. Here, the 50-day MA will cross the 200-day MA from the upper location downward. After obtaining this condition, it is prudent to keep an eye on the market and secure a sell position.

The DC significance and effect

The DC through chat with the MA indicator expresses a bearish market season, where the supply is dominating and the demand could not withstand the pressure. This will result in a downtrend and a continuous fall in price.
The DC can also be used as an opportunity to exit a position and take profit.

How many days moving average is taken to see Death cross and Golden cross in the market for better result and why?

ANSWER

A strategic setup exists here. Moving averages are used by traders all over the world to determine the trend and direction of trades. For the Golden Cross and the Death Cross, a 50-day MA will be utilized for the short term and a 200-day MA will be used for the long term. This is due to the fact that the GC and DC utilize the Short-term and Long-term MA to improve their effectiveness. As a result, when the 50-day MA, which is the short term MA, and the 200-day MA, which is the long term MA, cross upwards, it is an ideal indicator to start buying, and when the 50-day crosses the 200-day moving averages downward, it signals the start of a bearish season.

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How to see death cross and golden cross on the chart.

ANSWER

• Go to the Trading view (I am using the trading view form https://www.coingecko.com)
• Click on the indicator icon
• On the search bar, fill MA (Moving Average)
• Once the MA indicator appear from the list, click on it twice

• On the first MA, Click on the settings icon
• On the input settings, set the Lenght to 50
• Click on Ok afterward

• On the first MA, Click on the settings icon
• On the input settings, set the Lenght to 200
• Click on Ok afterward

Here, we have our two moving averages set at 50days and 200days

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Explain Death cross and Golden cross on the chart, (screenshot necessary)

ANSWER

Golden cross on the chart

From the image above image, we can see how the 50days MA crossed the 200days MA upward, to show a bullish sign. This shows how the market is been controlled by the bulls and the buying pressure surpassing the selling pressure and resulting in a continuous uptrend in the price of the coin.

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Death cross on the chart

From the above image, we can see how the 50days MA crossed the 200days MA downward, and this shows a bearish movement, where the selling pressure is much and suppresses the buying pressure. A bearish movement continues as the buying pressure became weaker. The DC simply interpreted the bearish movement on the chart and an exit trade sign when the 50days MA crosses the 200days MA downward.

What is Binance P2P and how to use it?

ANSWER

Binance P2P platforms connect a buyer and a seller directly without the involvement of a third party. As a result, a user can buy cryptocurrencies or sell without paying fees. Binance is one of the popular cryptocurrency exchanges that people use. Binance P2P ensure that people are honest with their deals by giving records and rating on each completed deals.

How to use it

Create a Binance account. Then verify your Identity because this is a very important part; if Identity has not been verified, you can not use the P2P exchange. Transfer fund from your spot wallet to your P2P wallet because the P2P wallet is from where you perform your P2P trading. Only the funds you are willing to use for your P2P trading will be transferred to your P2P wallet. Then you are set to use the P2P trading service

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How to transfer cryptocurrency to a p2p wallet?
How to sell cryptocurrency in local currency via p2p (any country or coin)(screenshot necessary to verify account)

ANSWER

I will be performing this by using BUSD

• From your mobile device, go to your Binance app, ensure you have your token to perform P2P
• Click on P2P from the homepage
• Click on sell.
• Click on the token that you want to sell, for me I want to sell BUSD.
• Select from the list of traders from that page who have listed their price and their terms.

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Because the P2P wallet is empty, Binance will bring the page to fund your P2P wallet, only when you have done that can you proceed with the P2P trading

• To transfer your fund to your P2P, select your preferred coin to transfer
• Fill the amount to transfer
• Then click on transfer

Now that your P2P wallet has been funded, you can proceed with your P2P transaction.

• On the next page, click on P2P trading and you can click on cancel if you don't wish to proceed with the trading. Click on P2P trading

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Since you have selected the trader of your choice from the onset, this page is to continue your execution of trading with him.

• Click on By Crypto
• Fill the amount you are willing to sell
• Select your payment method, I choose bank transfer
• click on Sell BUSD

30mins Countdown will begin for the trader to fund you and also a dialogue page will appear to chat with the trader.
As shown below

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After payment has been received and confirmed personally by you

• Click on Confirm Receipt

• A pop up box will appear to authenticate the transaction through OTP (By phone number)
  Fill it accordingly and the transaction will be approved, while they credit the buyer with the token you've sent

• On the next page, click on Done

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The P2P transaction has been completed

What are the things to keep in mind during P2P trade and describe its four advantages and disadvantages.(own words)

ANSWER

There are few things to keep in mind.

• Always pay attention when you want to begin a P2P trading
• Check the reputation of whom you are willing to trade with, read his terms and conditions
• Confirm that you have received the full payment as agreed before you finally approve that you have received payment.
• Give concentration to your trading, i.e., to give time to monitor every process from beginning till the very last. Once your payment has been successfully received, be sure to release the fund to the buyer as well.

P2P advantages

• In one place you can find many different options for the best price you are looking for.
• Instant cryptocurrency exchanges to cryptocurrency or fiat
• P2P markets serve as connectors between a seller and a buyer.
• P2P market is always available 24/7

Disadvantages of P2P

• Platform may not be able to solve issues that may sometimes arise between buyer and seller
• It is complicated and risky to those who are not familiar with how the system works.
• Delay in transaction approval for one party while the other has done his part

Conclusion

If you follow the market's trend and the GC principles and then close a transaction on the opposite signal, the Death Cross, you can make a lot of money with the Golden Cross.
It's also a good idea to wait a few moments following the cross to be sure you got the exact indication or signal

To avoid complications with the second party, users must be cautious and focus on the trade until it is completed when using P2P trading. Importantly, payment confirmation must be thoroughly checked before you approve the funds being delivered to the buyer.

Cc: @yousafharoonkhan