Crypto Academy Homework task for @yousafharoonkhan| Season 3: Week 5 || Death cross & Golden cross, How to use Binance P2P trade

Hello Everyone!!

Hope all are doing well. What I'm going to do today is very important for any type of trader because the basics are beautifully presented here. Sir has presented to us in a very nice way how to trade p2p in Binance. If we want to trade in Binance then we must first have an idea about p2p Binance. And the other thing that stands out to us is the Death Cross and Golden Cross. Death Cross and Golden Cross give us the knowledge about future. So no further due let's get started.

---

---

Define Death Cross and Golden Cross in your own words.

---

---

Death Cross

Understanding our market is very important to make a profit in trading. So we do different types of analysis to understand the market. Death cross is a type of analysis that falls under the category of technical analysis. Analysis of whether the market will be bearish in the future to understand is called Death Cross. From the Death Cross analysis we know that now we have to enter or exit the market. Since the death cross could then move into a bearish trend, a ideal trader knows what to do here.

We can identify what the Death Cross situation by moving avarage indicator. So If we want to tell Death Cross in a few words, we have to say Death cross refers that a long-term moving average cross above a short-term moving average. In answer to another question I will discuss the moving average in detail. Death crosses usually occur when there is a big pump.

---

---

Golden Cross

Above I have discussed death cross and the Golden Cross is the exact opposite. Golden Cross is a technical analysis through which help us to understood market trend. My own word Golden Cross happen when a short-term moving average crosses a long-term moving average upside. Another thing I want to say here is that when the golden cross occurs, the golden cross occurs when a big dump occurs.

And what is the significance of DC and GC in trade?

---

---

There are a lot of significance of DC and GC in trading which are given below.

• Through DC and GC we can understand the condition of the market.
• Through DC we understand that the market is now going into the bearish on the other hand Through GC we understand that the market is now moving towards the bullish.
• Through DC and DC we understand whether it will be profitable if we enter the market now for trading.
• Through market analysis we can protect our capital from major losses.

Since it is important for an inverter to understand the market, DC and GC can be a guide for an investor so it is very significance.

And what effect do these two have on the market?

Golden averege and death averagr have very effective sites in the market. If we do a technical analysis of the mango market, we will see that when the golden average occur the market is in a bull moment for a long time and a good profit can be made. The issue is better illustrated by an image below.

We can see here that the market has crossed the golden mark and for a long time the market was on a bullish trend. The opposite happens in Death Cross. Since we understand the market trand through Golden Cross and Death Cross so it is very effective for traders in trading market.

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

The timeframe of the moving average is an important fact. For DeathCross and Golden cross technical analysis we have to take two types of moving average, a long-term moving average and a short-term moving average. Long-term moving average 200 for effective results. And short-term moving average is 50. In addition to the timeframe that I have mentioned, we can choose more or less for verification, but I think the mentioned timeframe is best for the death cross and the golden cross.

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

I will now show you how to find the death cross and the golden cross on chart. To find out, I first go to Market Trading view's website. Now I will select the coin that I want to take out.

And then I will select indicator option. And I will search by typing the moving average in the search option.

Then I will set length.

After that I will get result

Explain Death cross and Golden cross on the chart.

In the first picture I showed the Golden Cross. Here the Golden Cross means market has been bullish.

I showed in the second picture the feath cross where the death cross caused the market to go bearish.

In answer to the above question I showed how to get out of the trade course and the Golden Globe. To find out Death cross and Golden cross, I have used two types of moving averages, one is long-term moving average and the other is short-term moving average.

What is Binance P2P and how to use it ?

Binance is an exchange site where we can trade very easily. Binance is one of the most popular and simple trading sites in the world. We can convert any type of currency from Binans to domestic currency by trading. In Binance the prerequisite for trading currency is to be able to enter any currency before trading. If we have concurrency in any of our accounts, we can deposit it and bring it to Binance. If we do not have any type of cryptocurrency then there is another way which is that through p2p we can buy currency from any currency seller with domestic money and can trade in Binance.

We must have a KYC account to do Binance p2p. p2p refers peer to peer. If we want to say in simple language the transaction between two people is called p2p.

---

---

Strategy to use p2p

I will show the strategy through mobile so first I will enter Binance app. To do p2p we have to take the currency from spot wallet to p2p wallet

Then I will click on the wallet option. When I go to the wallet, I can see the assets that I have. If we have the above option then we will see the p2p option. I will take the local currency of my country by selling USDT.

• How to transfer cryptocurrency to p2p wallet?

Firstly I have to inter Binance website or app.

Then I will inter my wallet. And I will click in p2p option. And then I will click in transfer.

And select asset and transfer. After that it will be transfered successfully.

How to sell cryptocurrency in local market.

First I have to take the asset p2p and it is possible to sell from p2p to local market so I have taken my USDT to p2p now now I will sell it I will share the screenshot with you. I have selected the currency which I want to make local currency.

Then I will click sell option.

And them I will get some buyer who are interested to buy my USDT. And I will give them my USDT cell by checking and sorting their trading history.

Then I have to select which way I want to take my money. If the buyers pay through that, I will release my USDT and my trade will be successful.

What are the things to keep in mind during P2P trade and descrbe its four advantages and disadvantages.

There are a number of things to keep in mind when conducting a Binance appetite that are given below.

• Binance is a centralized exchange system where anyone can open an account with bad intention. If we can't use this balance properly, that is, we can't use p2p properly, then we will be victims of scam. We have to give more priority so that we do not fall into Cheater.
• The two people who are going to be the p2p should keep an eye on who has a completed account with KYC.
• Many people in the p2p try to trap them with tempting offers so that they do not fall into the trap of saving.
• The terms and condition should be read well before doing p2p.
• Anyone who wants to do p2p can easily understand scam by looking at the number of trades. If he is a fraud then he may not have a successful trade percentage. Very risky to trade with a trader who has a very low or no successful trading rate. We have to stay away from all these traders.
• We need to keep a close eye on how much currency we want to trade and how much currency the trader who wants to trade with us. In short, We must keep in mind the limitations before treating
• Before releasing the currency, it is important to make sure that the payment has been successful.

Advantage

• Binance p2p is a simple medium and the easiest to transact asset here.
• There is no need to third party to make transection.
• Time fact, conventional financial system has ruls and regulations, on the other hand p2p user can transection any where anytime.
• P2P transection fee comperatively less than conventional financial system.

Disadvantage

• Since Bangladesh has not yet legalized that cryptocurrency transaction, one of the disadvantages in our country is that the number of buyers and seller here is comparatively less.
• Here are some unscrupulous traders who keep getting caught in the trap of cheating.
• Due to the limitations on p2p, sellers of small amounts get in trouble.

Conclusion

I have been trading little by little for a long time. The exact use of the Death Cross and the Golden cross, I've heard of for a long time it was unknown before me. I have gained a good knowledge of these two indicators through the class. P2P is a word very familiar to me but I never thought about its advantages and disadvantages before doing the class.