Crypto Academy Season 3 Week 5 - Homework Post for @imagen || Intermediate Course: Market Patterns and Blockchain Projects

Hello friends, this week professor @imagen raised a very interesting theme, and made me want to participate in his class. It's just that it's at the end of time, because I have personal business I didn't get to work on yesterday, so only now I have time to write it. So let's get started.

1. Choose at least 1 of the following cryptocurrencies and Make an investment of $ 12 or more. Show screenshots of the process.

• Axie Infinity AXS
• Chilliz CHZ
• Cardano ADA
• VeChain VET

None of the coins above really interested me for various reasons, but I have to admit that all of the coins above are good coins and very good projects, it's just that I prefer Stellar Lumens (XLM) coins to do fundamental, technical and investing analysis. Luckily professor @imagen allowed us to choose the coin we like, so let's make an investment.

I did this operation on the Huobi market, so I opened the Huobi app then went to the market and looked for XLM/USDT coins. Then I placed a purchase order of 50 XLM, this was equivalent to $13.18 USDT at the time I made the operation.

I made a successful purchase, only I have 49.9 XLM in my Huobi wallet, worth $13.18 at the time. Now let's do a further analysis of this coin.

Why did you choose this cryptocurrency?

Currently Stellar Lumens is one of the digital currencies whose price continues to increase. If we accumulate on an annual basis (yoy), the percentage increase is more than 600%, this is certainly very amazing. The current price of Stellar Lumens is $0.2795, compared to the same period last year the price is only around $0.068, this is one of the reasons I chose this coin.

Another reason why I like this coin is because it can be a payment alternative for other crypto assets. When compared to other coins such as btc, eth, stellar Lumens (XLM) transfer fees are very cheap, this is almost the same as TRX.

Stellar Lumens (XLM) also has utilities that we can connect to payment systems such as from banks and other financial institutions around the world. In addition, in Indonesia we can use XLM to book and pay for hotels through the booking.com website and application, this makes me really like this coin.

What is it Market Capitalization?

I used data from Coinmarketcap for XLM coins, the data is as follows:

• Market Capitalization: 23.39B XLM, it just reached 47% of XLM coins

• Coin rating: XLM Coin is currently ranked 19

• Market Capitalization: $6,513,623,473

What is it position in the cryptoasset rankings?

As I stated above, this coin is ranked 19th cryptocurrency in the world based on data from Coinmarketcap. This is a pretty good rating for XLM coin as it was able to stay on top of the rankings when many other crypto coins were storming the market.

I don't think XLM will be evicted from its current position, instead I am very optimistic that XLM coin will rank in the top 10 in the coming months as more and more investors jump into cryptocurrency. While these coins are experiencing setbacks due to some negative news such as eos and ripple, XLM continues to show its strength by continuing to climb up.

What is the objective of the project behind this coin? Who founded this coin? Show the roadmap. What is the specific purpose of the cryptocurrency?

The main goal of this project is to become a digital payment channel by connecting people, banks, companies and other payment systems around the world. XLM also wants to create speed in transactions and fees that are very cheap compared to other coins, so that people can transact around the world in a very short time and very small fees.

Stellar Lumens was founded by Jed McCaleb and David Mazieres in 2014 after McCaleb secured a $3 million investment from Stripe, an Irish-based payment processing system. Previously Jed McCaleb was also the CO-FOUNDER of Ripple coin (XRP) but he decided to leave XRP for unclear reasons. But after he left XRP he instead founded the XLM coin with almost the same vision as XRP, it didn't take long for XLM to become a very popular coin among cryptocurrency lovers.

Source

We can find Roadmap of stellar on their official website. There are at least three things that XLM founders are concerned about in 2021 and they want to achieve, namely:

• Support the robustness and usability of Stellar;
• Help Stellar be the blockchain people know and trust; and
• Foster and develop sustainable Stellar use cases for cross-border payments and securitized assets.

And I think from all the contents of this Roadmap, the stellar team just wants to establish themselves as a coin that will be very useful for its users and attract more users to continue to join and use the stellar lumens coin to make transactions, collaborate, and so on.

Roadmap Stellar Lumens

If we look closely, the Roadmap of Stellar Lumens looks like it will be very easy for the team to achieve this year, because they have already entered into partnerships with various companies and payment systems. In the case of new users, almost every day someone joins Stellar and I am very optimistic that this coin will soon become more popular.

2. Explain in your own words what the "Evening Star" pattern consists of. What is its hit rate?

Evening star is a candlestick used to predict trend reversals, the Evening Star pattern is made with a combination of three candles. the first is a bullish candle with a long real body, the second is a small bearish or bullish doji candle, while the third candle must be a bearish candle with a long real body.

• Evening Star pattern: long bullish candle, doji candle, long bearish candle.

Evening Star pattern is often used to predict trend reversal from uptrend to downtrend, this is very useful for traders. In addition, the three candlesticks that draw the Evening Star pattern can also indicate the current market psychology.

The Evening Star pattern has a 72% hit rate, this is based on the explanation of Thomas Bulkowski in his book "Encyclopedia of Candlestick Graphics".

Explain in your own words what the pattern "Abandoned Baby" consists of. What is the percentage correct?

Abandoned Baby is very difficult to find and if we see this type of candle, it usually signifies the end of a bearish or bullish trend because there are two Abandoned Babies, one is bullish and the other is bearish. I tried to do a search on several types of crypto but didn't find it, so I'll take an example from Google, the results of the search I did.

Bearish Abandoned Pattern

Source

Bearish Abandoned also consists of 3 candlesticks, the first candle is a bullish candle with a long real body, then the second candle is a bullish doji which has the lowest price above the highest price of the first candle, the third candle is a bearish candle with a long real body, the highest price lower than the doji.

Bullish Abandoned Pattern

Source

Bearish Abandoned has almost the same as the Evening Star, the first candle is a red bearish candle with a long real body, while the second candle is called a doji (also bearish) where the highest price of the doji is lower than the lowest price of the first candle, while the third candle must be bullish with a long real body that opens above the second bar, it means the low price is higher than the doji candle.

What is the percentage correct?

This is also stated in the book "Encyclopedia of Candlestick Graphics", in the book it is said that the accuracy rate of the Bullish Abandoned Baby pattern is 70%, and 69% for the Bearish pattern.

Perform analysis for 3 and 7 recent calendar days for Bitcoin Do you identify any patterns? Show screenshots.

1. Analysis of the last 3 days of BTC

As you can see in the screenshots above, I found 3 patterns when analyzing bitcoin, but I didn't find the pattern we are discussing, the three patterns are:

• Bearish engulfemnet pattern
• Two Black Gapping
• Three white soldiers

Bearish engulfemnet pattern:- bearish candle that is longer than the previous bullish candle.

Two Black Gapping:- Two Black Gapping continuation patterns were seen after the uptrend, which resulted in two black bars or it could be red that recorded lower lows.

Three white soldier:- consists of three bullish candles and while indicates an uptrend and buyers are dominating the market.

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2. Analysis of the last 7 days of BTC

7 day analysis there are several other patterns, various dojis dominate the btc chart in the last 7 days. The other three patterns I found were:

• Three blackcow
• Morning star
• Three white soldier again

Three blackcow:- consists of three bearish candles at once without spaces by other candles, this is the opposite of three white soldiers.

As for the morning star is opposite of evening star, we have explained above that it consists of three candles, first a bearish candle with a long real body, then a Doji, and finally a long bullish candle.

Alright, that's our discussion this time, and I want to thank professor @imagen who has guided us and raised a theme that is very useful for all of us in this 5th week.

I wanted to do this homework yesterday afternoon, but because there are some things I need to do so I'm only paying attention to doing it now. Thank you to all of you.