Crypto Academy Week 14 | Homework Post for @stream4u

Hello every one welcome to my 2nd homework post in week 14 in this great community cryptoacademy which you can visit here any way it's time to answer the homework question.

1). Technical Details on Reverse Strategy

What is the first thing that come to mind when you hear Reverse Strategy for me the first thing that comes to my mind is a context that want to talk about a trend and how and when it was reversed in the long run so in that case, Reverse Strategy added in the technical analysis of a cryptocurrency to detect an extremely bullish or bearish of a crypto asset market before making a buy decision or a sell decision to take advantage of the bullish or bearish trend.

2). How does Reverse Strategy works?

When a market has been in a stretched uptrend market direction for so long it is smart to know that there is going to be a reversal the same thing when a market goes greatly bearish, it's a sign that a buy position would be opened sooner and as most dealer would, they would hop in to form a buy but in opposite, the cost of the specific resource might go more bearish which delays a trader's speculation plan.

This is where the strategy known as Reverse strategy comes into play take for instance, when a market goes bullish or bearish the examiner ought to provide a space of total 24 hours (a day) which may see the cost behaviour of an asset greatly up to +20% or -20% or indeed more on the chart pattern and within the process note the following; closing cost, high points, little points and the opening cost at the conclusion of the 24 hours.

Now for a very long bearish market if the 24 hours opening price is very close to the 24 hours moving average, then it is a very smart plan to buy the dip and consider another high point as the take benefit level and another low point to the buy cost for halt loss. Take for occurrence, in the event that the drift inversion goes greatly over the past tall point, there can be an opening for selling target which can be taken from the two past high point (a high point come to a day before the past day).

Showing Reverse Strategy on TRX/USDT Pair

I explored the BTC/USDT pair on my Binance chart pattern on my phone to identify the reversal showing the bullish and bearish reversals. See screenshot below.

BTC/usdt Pair- Bullish and Bearish Reversals

Review CoinGecko

In this section of the post i will be showing you guys some screenshot and the importance of coingecko.

What is CoinGecko

This is a platform that was created go keep track of what is happening in the cryptocurrency market and get different information on what is happening in the cryptocurrency market. It was invented by TM lee and Bobby bong which came into limelight in 2014 and it's headquarter is in singapore, crypto traders use coingecko to know the the exchanges available, crypto market capitalization, volume of different cryptocurrencies, different analysis and much more.

Coingekco home page

The screenshot above this text shows that the number of coins at the moment as calculated by Coingecko is 7326 and the number of exchanges is 471.

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

Coingecko is really helpful to crypto traders in several ways and some of the points would be listed below.

Performance Evaluation: Coingekco provides information about different project in cryptocurrency thereby showing how they are performing and this would help a trader to make a good decision as to which asset is doing well for investment at the moment or the ones having a wonderful future.

Volume and Historical Chart: the volume of every project in the cryptocurrency is always seen so that it helps users to see the behaviour of a particular asset behaviour

The Prices and Ranking of Cryptocurrencies: coingecko reveals the current price of every crypto with the ranking by market capitalization which helps one to make a few fundamental research on how well a crypto performing in the market.

Exploring COINGECKO features with information

I). Categories: This is in the first page in coingekco which is for sorting different typea of cryptocurrency, some categories you will find are Exchange-based tokens, Decentralized Finance, Centralized Exchange token, Binance smart chain ecosystem, Automated Market Maker and so on. Every single category of token have top coins in each section with market capitalization, 24h volume, the ranking by market capitalization and the price behaviour for the last 7 days. See the screenshots below.

As seen in the screenshot in category, Exchange based tokens has a total of $153,645,271,495 market capitalization and $21,182,292,465 24h volume.

2). Exchange:

The other feature you must consider is the exchange feature on coingekco, if you click exchanges in coingecko it brings more option of cryptocurrency to select Spot, DEX, Derivatives. Spot has a record of exchanges that offers spot services, DEX gives a list of decentralized exchanges and Derivatives gives a list of exchanges that offers contract trading. In this article i will be selecting spot in binance exchang and the Trust score is also attached to each exchanges and other informations like market capitalization, volume and the likes. See some screenshots below.

Recently Added Coins

This one good feature in coingecko which the user can check on the recently included coins and i will be showing the the coins that was recently through screemshots with some other informations like the volume, market capitalization and so on.

Developer

This is the feature that shows coingekco that shows the recent contributions added by developers in the obligation that to make notable correction the project and make it better with some activities that was recently taken place. The developer feature was accessed through the Top 100 Trading Volume option on CoinGecko platform.

The Cryptocurrency price by Market Cap

Using the market cap you can sort crypto market because which shows the rank of each concurrency, their prices, market capitalization, trading volume and so on.

The Currency Preferences

Different currency can be selected through a drop down menu to choose a currency of choice and easily read each crypto prices in the new currency chosen. The Screenshot below.

*Weekly Price Forcast For Crypto BTC/USDT Pair

In this article, i am going to use BTC/USDT pair and the reason i have chosen BTC because it respect technical analysis Over the last few weeks before the downtrend, BTC has enjoyed a great market price behavior and there are a few things I love about BTC which would be discussed below.

What is Bitcoin

Bitcoin is the first crypto that was created 2008 by a group of people or unknown person which used the name as satoshi Nakamoto but it started being used in 2009 when its implementation was released as open-source software, at moment of writing this article the price of BTC is $41,565 and BTC is number 1 in with total market cap $779,669B and the circulating supply is 18,713,700 BTC, these are the informations gotten from coinmarketcap.

Why Chose BTC in my Article
As i have explained above, BTC is the first cryptocurrency and it respect technical analysis and also it is better to he hedging you funds in BTC than altcoins and also because it can handle correction more than altcoins.

Technical Analysis- BTC/USDT Pair
I have chosen technical analysis on BTC/USDT pair to predict the price Bitcoin in the coming week I will be looking at supports and resistance in the previous days/weeks which has forced a trend reversal. This strategy I am using today can involve the new topic I've learnt today to see extreme bullish/bearish price behaviour of the asset to see points where there was reversal trends and draw out my support/resistance to predict the price of BTC/USDT in the next one week.

I have been checking on the price of BTC $41,500, 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 up trend after a huge correction which saw a reversal at $30000 and it is currently hitting a resistance point at $42500.

From the Technical Analysis BTC is in a 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 bitcoint to as low as $30000

Conclusion
Coingekco is needed in your crypto journey because with coingekco you will know the best project to invest in, you will know the coin with fundamentals and shit coins any way thanks for reading so far and i hope i explained it very well it took me 5 hours @stream4u