STEEMIT CRYPTO ACADEMY WEEK 14 HOMEWORK POST FOR @STREAM4U

Hello every one welcome to my homework post of week14 on Technical: Reverse Strategy | Crypto Prices & Market Source: Review Of COINGECKO Given by the most technical professor @stream4u

Question Number 1

Technical Details On Reverse Strategy

Reverse strategy can be define as a context employed in the technical analysis of crypto to spot a bullish or bearish scene of a crypto market before trading to smartly take advantage of either a bull market or bearish market depending depending on the time spent when we must invest or gather a quantity of cryptocurrencies to obtain a profit. When a crypto asset is in a bearish or bullish level for a long period of time it produce a unique situation where there is a high number of trades. Although, we should not make decisions during these bearish and bullish periods because a prudent decision brings with it an uncertain situation.

2). Reverse Strategy Works

In any situation whereby the bull market is in a long bullish or bearish time the reverse strategy is good for investors to make a good investment to enter a smart position in trading process. That is we have some points and price points we need to take note here.

• Opening price
• High Point
• Low Point
• Close Point

When Opening price is talked about we should know that it is simply the starting point of the reverse strategy which is most close to the previous Closing price. Meaning the strategy solely depends on the closing and opening points or prices in the day. To enter a good buy position the opening price should be closer to that of the previous closing price. This will gibe the trader a good position to enter a buy, in another scenario it will give a good exit or sell of the trading process will be depend on the high points and low points. In a situation where the price of a particular crypto asset gets to previous high point and the investor is able to hold on till it crosses that previous high point, It is a good position for the investor to exit that trade.

The screenshot you are seeing below shows a Reverse strategy in the BTC/BUSD chart.

Question Number 2

THE REVIEW OF COINGECKO

The platform known as Coingecko provide necessary information of all the crypto available in the crypto market That is, it provides to it's users all the technical and fundamental details of the crypto market. It is also said to be used in the tracking of crypto in the cryptocurrency market, Coingecko was created by TM Lee and Bobby Ong in the year 2014. It gives information to it's users on the volume, price value, capitalization and so on about cryptocurrencies in the crypto market, The platform known as coingekco provides the arrangement of token based on the market capitalization. It also goes further to provide the performance of particular cryptocurrencies in the market.

What is Coingecko

Coingekco is the platform that keep track of different crypto currencies and get various informations about the crypto. As stated above it was created by TM Lee and Bobby Ong in the year 2014 and also it is based in Singapore. Crypto traders can get their information about the crypto that they are after There are several information that the CoinGecko site gives so to investors and some of these information includes; the exchanges available, crypto market capitalization, volume of different cryptocurrencies, different analysis and many more.

How CoinGecko can be helpful to traders in the crypto market.

There are a lot of ways the CoinGecko platform can use by its users and below are some of the ways;

I). Rank and price of the crypto are displayed on the coingecko site and that helps position market capitalization which helps an investor to make research on how a crypto asset is performing in the crypto market.

II). Performance Evaluation: The Coingecko site gives detailed information about different cryptocurrency by showning how they have been performing in the cryptoworld.

III). Volume and the price history shows every crypto volume in coingecko and with the historical charts, they are shown such that it helps it's traders to check the market behaviour of a crypto asset over a period of time.

Exchange

This is among the feature you will find in coingecko that i will be looking at in this article, with this feature, the user is given the opportunity to choose the preferred service from the drop menu. Which include Spot, DEX, Derivatives and so on. Spot option provides necessary information of the spot market, Derivative option also provides necessary information on exchanges the gives contract trading and Dex option provides information on the list of decentralized exchanges.

The Recently Added Coin Feature: This feature helps to check on the recently listed coins and the below screenshot shows the coins that were listed recently.

The Categories: in the coingecko homepage you can select categories which will arrange arrange crypto assets type. This are the list of available categories Exchange token, Binance smart chain ecosystem Exchange-based tokens, Decentralized Finance, Centralized ETC. Each and every category of the tokens have top coins in each section with market capitalization, the ranking by market capitalization and the price behavior.

The Developer: This is the feature that provides information of contributions made by the developers This will enable them to make the website a better one. This feature is made available by Top 100 coins in the Trading Volume.

Chain: this shows the amount of block circulating and also nodes circulating in the crypto maeket.

Crypto assets price by market price shows the rank of each crypto asset, their prices, market capitalization, trading volume and so on.

QUESTION NUMBER 3

Weekly Price Forcaste For Crypto Coin BITCOIN

What is Bitcoin
It is known as the crypto to be created by a name satoshi Nakamoto which is either a group or a unknown person that started being uses in 2009 at moment of writing this post the price of BTC is $40,565 and BTC is number 1 in with total market cap $610,669B and the circulating supply is 18,713,700 BTC, these are the informations gotten from coinmarketcap.

Why Chose BTC in my Homework

As you can read above Bitcoin as the first cryptocurrency and it is the only cypto currency that as work technical analysis 100% also because it can handle correction more than altcoins.

Technical Analysis- BTC/BUSD Pair
Technical Analysis- BTC/BUSD Pair is what i am going to be using to predict Bitcoin price in coming days in a way that my target is the resistance and support level that will trigger a reversal.

I have been checking on the price of BTC $42,500, where is the support is now resistance this makes a good point to set one's point of taking profit. So buying the asset below that price at a good support makes $34,000 a good point at the take profit level.

The BTC price is currently in a reversal after a huge correction which saw a reversal at $30000 and it is currently hitting a resistance point at $42500 as resistance.

The Technical Analysis shows that BTC is in a reversal or recovery phase which might see it recover up to $45,000 in the coming days just be that is where the crash began from which saw bitcoin to as low as $30000.

Conclusion
Coingecko is a very useful tool in this crypto world and if you have decided to embark on a crypto journey any way thanks for reading @stream4u