Hello everyone to steemit crypto academy season 3 week 5.

Introduction.

I am very excited to be a part of this lecture on Death cross, Golden cross and how to use binance P2P trade. The topic has been explained very well in short words.

I would now like to present my answers to the questions given.

Define Death Cross And Golden Cross.

Golden Cross.

Golden cross is a technical chart pattern indicator that is observed when an asset's value for the short term moving average crosses above the long term moving average.

The short term moving average is usually set to a 5o day short term while the long term moving average is set to a 200 day moving average.

The golden cross usually indicates that a downtrend or bull trend is moving to an uptrend.

The golden cross is usually a good time for investors to buy assets as it indicates that the asset's trading volume has increased and that a bull run is likely to be entered.

Death Cross.

Death cross is also a technical chart pattern indicator but opposite to the golden cross indicator.

The death cross is observed or can be seen when the market short term moving average value of an asset crosses below the long term moving average.

Just like in the golden cross, the 50 day short term and 200 day long term moving averages are used.

The death cross indicates that an uptrend is moving into a downtrend. It also indicates that there is going to selling of assets by asset holders which would cause a bear run.

Significance of the Death cross and Golden cross.

The death cross and golden cross indicators can be used as a way to access market trends and make decisions.

These indicators give indications about long term and short term bearish and bullish trends.

The golden cross indicates that the market trend is likely to go into a long uptrend and time to buy assets.

The death cross indicates that the market is about to enter a long downtrend and is probably time to sell assets.

When there is indication of golden cross, the 200 day long term moving average can be used as support line and when there's indication of death cross, the 50 day short term moving average can be used as resistance line.

Effects Of Death Cross and Golden Cross On The Market.

The golden and death cross do not have significant effects on the markets short term but have significant effects on the market in the long term.

Death and golden cross indicate that a market is about to go into a downtrend or uptrend.

As already indicated, when the golden cross indicator occurs, the market may enter into a bullish trend but when the death cross indicator occurs, the market may enter into a bearish trend.

The golden cross is used by traders as a time to buy assets or enter into a trade where as the death cross is used by traders as a sell time of assets or time to exit trades.

How Many Days Moving Average Is Taken To See Death Cross and Golden Cross In A Market for Better Result And Why?

The 200 day and 50 day moving averages is used to see or identify the death cross and golden cross. Different moving averages can be used but the best to use is the 50 day and 200 day moving averages.

The 200 day moving average indicator is used as the long term moving average while the 50 day moving average is used as the short term moving average in a market trend.

The 200 day moving average is used to obtain better results because it is a better detector of long term market trends and signals at the long term are more reliable.

The 50 day moving average is used as the better indicator because it is a more accurate moving average than the other short term moving averages.

How To See Death Cross And Golden Cross On A Chart.

Looking at a normal chart, the death cross and golden cross cannot be seen unless the chart is configured. So to show or see death cross and golden cross on a chart, these steps are followed.

For this task, I would be using trading view.

Step 1: Launch the trading view website or click trading view

Step 2: Click on chart.

Step 3: I would be using the ETH/USDT pair.

Step 4: Click on indicators at the top of the screen. Type Moving Average or MA in the displayed search box.

Step 5: Double click the Moving Average indicator.

Step 6: Now to configure the periods or length, click on the 'gear' icon and input 50 in the length option. You can also change the colour here by clicking on style and selecting the colour of choice. I would use the colour green for the 50 day short term indicator.

Step 7: Repeat step 6 and select 200 in the length option and change the colour of the long term moving average to red.

Step 8: When this is rightly done, we can see the intersections which show the death and golden cross.

Golden Cross From The Chart.

From my chart, I noticed that there have been 2 points where the golden cross formed.

It can be noticed that on 17th June there was formation of a golden Cross which saw a slight increase in btc price.

Although this was short term, it clearly indicates btc price rose before coming down again.

This first golden cross was between 17th June and 22nd June.

The second golden cross on my chart occurred on 27th July 2021.

Currently, we are in a bull BTC market run as seen.

This second golden cross indicates that the market has moved from a long bear run or downtrend into an uptrend.

This proves the golden cross indicator is a good indicator for realizing incoming uptrends although it doesn't mean a long uptrend as seen in the first case.

Death Cross.

On my chart, it is observed that there has been one death cross.

This death cross occurred on 22 June when the green 50 short term moving indicator crossed below the red 200 long term moving indicator.

It is seen that the market came from a short uptrend and went into a long downtrend since then.

This long bear run occurred from 22 June to 27 July which saw a big dip in the price of BTC.

This clearly proves that the death cross indicator has rightly predicted the market trend and investors who would have used this indicator would have made right decisions.

What Is Binance P2P?

Binance P2P ( Binance peep-to-peer ) as the name suggest is a service provided by binance exchange platform that allows it's users to perform transactions like buying and selling crypto assets amongst themselves without the use of credit, debit or VISA cards.

This is between 2 people; buyer and seller where the seller advertises his assets and the buyer if he meets the requirements can buy the assets by paying with bank transfers or using mobile wallets like vodafone cash.

Binance P2P service allows users to trade in their local currencies which is a very good initiative as a lot of people do not have credit or debit cards.

In this service, the asset is directly sent from the seller into the buyer's account.

One very interesting advantage about this P2P is that there are no fees for commission charged but it is currently only limited to some cryptocurrency assets.

These assets include; BTC, USDT, BNB, ETH, DOGE, DAI, etc.

Because this can be used as a means to scam people, binance also allows verified accounts to use this service. That means, if you haven't gone through the KTC verification, you cannot use the P2P service.

Also, to ensure that sellers don't run away with funds, there is an escrow service where assets are locked when trade is initiated and so when the trade is confirmed, the assets are released.

How To Use Binance P2P.

To be able to use Binance P2P, you must first have a verified binance acount.

My verified account details.

To use P2P,

• Login to your binance account.

• Select wallet and click P2P.

• P2P page is opened where P2P transactions can be made.

In the P2P page, there is , Buy, Send, Transfer and Receive.

Sell allows users to sell crypto assest in P2P wallets through P2P trading.

Buy allows users to buy crypto assest through P2P with local currency.

Transfer allows users to do internal transfers of crypto assets in P2P to fiat and spot or from fiat and spot to P2P.

Send allows users to send crypto assets from P2P wallet to other binance accounts.

How To Transfer Cryptocurrency To P2P wallet.

Step 1: From your logged in wallet, select wallet and click on overview.

Step 2: Click on transfer.

Step 3: Select the coin you want transfer after verifying you're transferring from fiat and spot to P2P wallet. In this case I selected BTC

Step 4: Enter amount to transfer to P2P and click on confirm.

Step 5: BTC is successfully transferred.

How To Sell Cryptocurrency In Local Currency Via P2P?

For the purpose of this task, I would be selling some BTC.

Step 1: From the P2P page, click sell from the BTC column.

Step 2: Select local currency and payment method. In my case, I selected GHS ( Ghana cedis ) and vodafone cash . I was given a risk warning and so I read, ticked "I have read and agree to the above content" and clicked on confirm.

After this step, I decided to continue the trade with my phone to make it easier for me and to be easier take screenshots.

Step 3: Scroll through the list and select the buyer of choice. Click on sell.

I selected the buyer , "Anasmotek".

Step 4: I clicked on all at the amount section because I wanted to sell all my btc and order was placed. Then, I clicked on Sell BTC

Step 5: I had to wait for buyer to make payment. Immediately, Anasmotek sent me a message on how he wanted the trade to be.

Step 6: The equivalent of the 0.0013000 BTC I was selling was GHS ( Ghana cedis) and so the buyer sent that amount ( GHS 321.79 ). He confirmed that he had made payment and I click Confirm receipt once I confirmed from my end.

Step 7: A dialogue box opened and I ticked on "I confirm that the payment is successfully received with correct amount and sender information". Then I click on confirm to release the BTC.

Step 8: Trade was completed and I decided to leave a positive feedback because the buyer was very fast in making payments.

What Are The Things To Keep In Mind During P2P Trade?

• It is necessary that a seller in P2P trade sets seller conditions like how to make payment with specifications. So the conditions of the seller are important points to mote.

• The minimum and maximum amount set by the buyer must be taken into consideration. This means that every buyer you see should have a reasonable price range where you can trade.

• Payment time should be checked so that we do not waste time in trades and end up getting trades cancelled.

• Make sure when you are selling, you do not release assets until you have received amount in fiat or local crypto.

• It is important to not that once you place a buy advertisement, your assets are locked.

• It is only buyers in P2P trades that can cancel orders.

• It's important to check the details of the user in terms of errors and completed orders, average payment time, etc. This can be accesses by clicking on the seller's name.

• It is important to note that there are verified traders in P2P trading so to limit chances of scam, it is better to check for trader verification.

Advantages and Disadvantages of Binance P2P Trading.

There are a lot of advantages and disadvantages when trading with P2P but for the purpose of this task, I would give 4 advantages and 4 disadvantages in the table below.

Advantages	Disadvantages
Binance P2P has a customer service that is available all the time	Although trading with binance P2P is safe, a trader can still be scammed if not careful
There is no commission fees	Sometimes you do not meet conditions set by a trader
Different range of prices are available	Some traders that have higher limits offer better exchange rates and so making small sell trades results in receiving less money while selling high amounts gives you higher returns.
Trades are fast	Trades can become slow or long when you trade with buyer's who have set longer trading times.

Conclusion.

I must say a big thank you to prof @yousafharoonkhan for this very informative lecture.

I learnt that the golden cross and death cross are indicators that can be very useful in showing bull and bearish trends.

This can be done by using a 50 day and 200 day moving averages.

I have learnt how to set the 50 day and 200 day MA.

I have also learnt how useful the binance P2P trading service is and transferred assets from my spot wallet to P2P wallet to make a P2P trade.

I have also learnt how to make a binance P2P trade here I sold some BTC to a buyer Anasmotek.

Athough it is very advantageous by proving trades with commission fees, and transactions in local currencies, it can be very slow and risky.

Thank you.