Crypto Academy Season 2 - Week 14 - For @stream4u
WHAT IS REVERSAL STRATEGY
The reverse strategy can also be referred to as Reversal of trend. It takes place when the direction of a stock experiences change which causes it to move back in the reverse direction.
An example is a trend going up reversing to a trend going down and a trend going down reversing to a trend going up. With the expression Reversal of Trend we mean, in Technical Analysis, that price movement that interrupts the main trend.
A trend is identified by a sequence of increasing (or decreasing) maximums and minimums: when the price creates an opposite sequence, we speak of a trend reversal.
Identifying the moments of trend reversal is of fundamental importance in the trading activity. Whenever there is a long bullish or bearish trend, there will be a time when the trend breaks; sometimes below the previous break point, when there is such change, then a trend reversal is imminently.
COINGECKO
CoinGecko provides an in-depth analysis of the cryptocurrency market. Instead of tracking and measuring coins and tokens by market cap or trade by transaction volume, CoinGecko tracks other key factors as well.
These include project code development and open source development, community development and other important events that affect its value. With thousands of cryptocurrencies on the market and new currencies created every month, the CoinGecko team wants to help investors better understand the available altcoins by providing them with all the truth they can. Transparency and quality possible.
HOW CAN COINGECKO BE USEFUL IN THE CRYTOCURRENCY MARKET?
Coingecko seeks to make information such as the Coin price, volume, market capital, exchanges to trade coins (with the official website), record highs and lows, it also gives a report monthly or yearly, and gives traders access to books (not free) and a lot of other services like podcasts , newsletters ,etc.
Cryptocurrency trading is usually based on the past behavior of an asset and the coingecko can cover this information gap. Also with the Coingecko, I know everything that may affect a token of my choice or not in real life (fundamental analysis).
With thousands of cryptocurrencies on the market and new cryptocurrencies created every month, CoinGecko staff hope to help investors better understand the altcoins available to them by providing as many transparent and qualitative facts as possible.
It is not enough to just consider the market value, because it can be easily manipulated. Five years after CoinGecko came out; data processing in the industry is still a major issue.
When Bitton Asset Management submitted its Bitcoin ETF proposal to the US Securities and Exchange Commission earlier this year, it included a study showing that up to 95% of the trading volume on cryptocurrency exchanges was fake
FEATURES OF THE COINGECKO
In fact, the basic features of Coingecko are not very different from the CMC, but I will still remind those who don't know.
- COINS: you see the coin price, as the picture above is when I click the picture it will display exactly like that picture.
- EXCHANGES: track the list of exchanges and trading volumes, especially here records real and non-virtual trading volumes like Coinmarketcap.
- PUBLICATIONS: Coingecko has a lot of publications to help both beginners and pros to better their art of trading and analysis. Coingecko has some books, podcast, newsletter cryptocurrency report Blogs, and guides that helps users to get more insight into the assets.
- TRENDS: Trends are, the biggest gains and losers, new coins added.
Coingecko has always been a good place to use to analyze some basic data, it is very useful for my judgment, in the future Blogtienao has an agreement with the Founder of Coingecko to allow Blogtienao to use their dataset,
We will base on the experience and user experience in Vietnam, we will design copy more suitable for Vietnamese people, help you to analyze more easily, hope you support it.
All - Time Hign (highest of all time)
Looking at the more advanced functions, let's take a look at the All Hign Time function (the highest of all time)
You will be able to check the highest price every time of each coin, compare with the current price, the highest time and the highest time, the ratio of the highest trading volume to the maximum market capitalization. and how much%.
And the current price from the peak has dropped by what percentage. In the past, when I was calculating this, I always had to wobble and tell old graphs to calculate, it took a long time.
ANALYZING DOGECOIN
The Dogecoin is a coin that has a bright future and this coin is being adopted very quickly. One thing that makes this coin even more popular and promising is the fact that billionaire Entrepreneur, Elon Musk, has a keen interest in this coin as seen on recent news and so this coin has a potential to be the next gem in the cryptocurrency world.
The available supply of dogecoin is also reducing and so that means there is regulation going on and even though the coin experienced a bearish trend in the past couple of weeks, it is sure to be a great investment in the nearest future.
TECHNICAL ANALYSIS OF DOGECOIN
Technical analysis is the use of the market history of a particular asset to predict the future performance of that asset. In this case we are going to be analyzing the performance of dogecoin for the next 1 week using the MACD indicator.
Looking at the chart below and analysing the MACD line and the signal line, and checking the successive crossovers above the signal line, as it moves from a lower high to another high of greater value.
Whenever this happens, it is most certainly followed by a bullish trend and going by the divergence of both EMA lines( MACD line and the signal line), it means there is going to be a trend reversal at some point in the week , that is, a bullish trend .