Hello

This post is a homework post for professor @stream4u on Reverse Strategy and also a review on Coingecko.

---

---

Technical details on Reverse Strategy

---

Everybody who linked to the market knows the reversal phase or say corrective phase of the market. It is when the market is in a long bullish or bearish trend the market always corrects the price of the asset by going in reverse trend. The main cause behind this reversal is that traders try to book profit at higher prices and they sell off their positions or, other way traders buy when the price is very low bringing the reversal phase in the market.

Reverse Strategy

This strategy is very helpful in situations when the cryptocurrency market moving in a bearish and bullish pattern for a long time. By just looking at candle charts and taking care of some points like previous low, previous high, bearish, and bullish movements of the previous day, you are able to find out some good entry points.

Reverse Strategy is suggested during the technical analysis of the market as the best indicator for long bullish and bearish market trends.

---

As a normal mindset, we tend to think that when the market is in a very bearish trend or very bullish trend then it is a good entry point and we initiate our trade but what if the price of asset further goes in downward or upward trend then happens only one thing we panic and ended up booking loss.

At that point in time, the role of REVERSE STRATEGY comes into existence.

---

---

Here, are some pointers that you need to take care of for applying reverse strategy / Working of Reverse Strategy

---

• Most important, you must avoid trade when markets are in a long bearish and bullish trend. You should wait for 1 day and analysis the price trend of an asset for the last 24 hours up to +20% or -20% also note down the following points about the day: closing price, high points, low points, and the opening price at the end of the 24 hours.

• Now, wait for next days opening, and if the opening price is near the price of the previous day closing then it's a good indication of buying order and take the next high point as the target level for your trade and low point as the stop loss of your trade. And if this trend goes beyond the highest point(target level) then you may exit or trail your stop loss according to you as the price of the asset is an open target now means you exit at any point you want.

So, this is how Reverse Strategy works I hope you understand all points of strategy

---

---

Example

I used the DOGEUSDT asset to explore reverse strategy on the trading view platform.

Here in the screenshot you can see that how close are the prices of the previous day close and the opening price the next day. I showed both kinds of reversal here.

---

---

Review of COINGECKO

---

What Is A COINGECKO?

Site link: https://www.coingecko.com/en

• Coingecko is a Singapore-based company and it was founded in 2014 by TM Lee and Bobby Ong.

• It was created to track different cryptocurrencies on one platform.

• It currently has 7359 coins, 472 exchanges listed on the website.

---

source:https://www.coingecko.com/en

---

• It provides every kind of knowledge of any cryptocurrency like its market cap, 24 hr trading volume, 24h low/24h high, circulating supply, and it also provides price chart of a cryptocurrency with all time frames that you want to know about.

---

---

How COINGECKO Can Be Helpful for you in a Crypto Market?

It is helpful in many ways:

Analyzing

It will help you to analyze the performance of different cryptocurrencies on a single platform and making it easy to make the decision on which asset has a good opportunity of buying.

Diversity

On this platform, you can see a total of around 7360 coins and 472 exchanges that will help to track the price of every asset out there along with their market capitalization.

Provide guidance

The option Developer on coingecko helps traders by telling growth opportunities by a cryptocurrency or coins. Making an investment for them easier.

Charts

You can also check the previous chart(historical) of any currency easily and track the price of the asset.

Updates

CoinGecko also provides the latest updates and news about cryptocurrency which are really helpful.

---

---

Explore COINGECKO features with information.

Website link: https://www.coingecko.com/en

Home page

---

---

This is how the home screen looks like on coingecko. You can see the top 100 coins listed here according to their market cap along with their market cap and price movement of 1 day, 7days also volume traded.

---

Exchanges

---

---

By this option, you can see the exchanges( spot, Dex, Derivative) listed on this website. you can also check whether the exchange is trustworthy by checking their trust score just in front of the name of the exchange.

---

Recent added coins

---

---

This feature provides knowledge about latest listed coins on this website. It also shows their price movement, market cap, and other information about them.

---

Developer

---

---

This feature provides information about the development of recently added coins. You can find this option in the recently added coin.

---

Cryptocurrency by Market Cap

---

---

This feature sorts the cryptocurrencies according to their market cap and you can see their price movement over time.

---

Currency Preferences

---

---

This tool is very helpful you can select your desired currency to see the price of different assets. I selected INR which is my currency.

---

---

Weekly Price Forcast For Crypto Coin: BITCOIN

---

---

I used the trading view platform to show you the price forecasting of BITCOIN. As you can see from the above photo the current price is at around 32Lac INR. I am using my technical analysis skills to predict the price for upcoming days

I used two technical indicators here MACD and PIVOT POINTS

As you can see from pivot points that the price of bitcoin is below its support line 1 which is at around 35.5Lac INR means it breaks the 1st support and sustains there also MACD signal is showing a bearish move(green line is below the red line).

So, according to my analysis price still goes down till the next 2nd support price of around 28Lac INR in the upcoming days. AND, if it did not take support at that level then I think it will go further down till the next support levels. BUT, my research says that it takes support at 2nd support level because if it goes further down it goes in the super oversold zone. It currently in the oversold zone.

---

---

In the above screen, I used Fibonacci bands, and as you see that price is also below all the bands indicating it still goes further down till the next support level.

---

---

Why I choose Bitcoin?

---

As we all know that the bitcoin is the mother of all other cryptocurrencies and its price affects all other currency prices so I want to review it because of that reason. Also, I enjoyed taking risks and as all know bitcoins price is very volatile I enjoyed trading in this asset and it has a huge market cap.

Another reason for selecting bitcoin is that it is in news at this time as Tesla Motors CEO Elon Musk recently tweeted that their company did not take bitcoins as a payment option. So, there are some sentiments also linked to bitcoin. One more reason is that there is a fresh breakout in the price of the asset as it goes below its support level giving a good entry point in the asset.

It is also easy to convert in desired currency and listed on each and every exchange so it is easy to trade and exchange in desired currency.

---

---

Complete detail on it's one of the analyses of Technical/Fundamental/Sentimental with price details.

---

I used all my skills that I know and that I learned from the lectures of professor @stream4u

So, to predict the price of an asset I used technical analysis means reading the price chart of assets and predicting prices. I used the PIVOT POINTS indicator which shows recent support and resistance levels of the asset.

I also used MACD along with another indicator as it is good to use two indicators instead of depending on only a single.

I have used my technical skills and spots that the price just breaks the important support level so I think it goes further downwards till the next support.

Sentimental Analysis

I used this analysis also a little bit to reach my conclusion as the news all around about bitcoin that it is not accepted by Tesla Motors as a payment option now. So, people are losing their trust in the asset as the price goes down about 20% one first day when news comes and still going down afterward depending on only one bad news. So, I think people are losing trust in the stability of BITCOIN.

---

---

Based on which Technical/Fundamental/Sentimental study the possible low level and the high level for the next 1 week?

---

Possible low level for the next one week = approx 28Lac INR

Possible high level for the next one week = approx 35Lac INR

---

---

Conclusion

---

I would say a reversal strategy is a great tool for traders in long bullish and bearish markets. You can find out good entry and exit points by using this strategy in long bullish and bearish trends. And if this strategy is used with some other technical indicator that it will be the best indicator in long bullish and bearish markets.

CoinGecko is a great platform with around 7300 coins and 720 exchanges a single platform helps you to do your research about any coin easily and precisely. I would also like to recommend this platform to newcomers in the crypto world as it has a great many features and very user-friendly easy to use.

I also discussed how I predict the price of some asset I hope you get it and use it in your analysis.

---

---

I hope you learn something from my homework.

Thank You for your reading!!!