Steemit Crypto Academy | Season 3 - Week 3 || Introduction to Technical Analysis of Price Patterns by @salemumar5

بِسْمِ ٱللَّٰهِ ٱلرَّحْمَٰنِ ٱلرَّحِيمِ

ٱلسَّلَامُ عَلَيْكُمْ

1.) Perform the staking on a platform of your choice.

Which platform did you choose and why? Which wallet did you use for the procedure? Use screenshots of your own. How can you link your wallet to the platform you chose? Which coins will you staking with, what is the APY/APR.

I chooses PANCAKESWAP and with emerging wallet "TRUST WALLET", I like it to use secure and profitable platform. PANCAKESWAP is a decentralized application (DAPP) and an exchange built on the Binance smart chain (BSC). The assets network are (Bep20) which cheap and low in fees. I am using cake coin for staking my assets in longterm.

• Open your trust Wallet and click in drop down (DAPPS).

• Further click on the network BSC SMART CHAIN make sure you choose correct network for connecting your wallet.Click on connect and after that there will be many options came into popup just select BSC SMART CHAIN or what you like to do for staking.

• There will be a menu option select that and after when it opens click on pools.

• The Pool is shown you open you just need 1$ gas fees only and make your staking which one you have to do.

• Approve your transaction

• Select your staking method and APR or you can select auto or manual staking ups to you.

• Click on enable after click on stake, then confirm the transaction.

• Now your assets are staked and enjoy your staking.

My Earning in pool after one Year, What is the APY/APR.

So as far the screenshot tell us the APY is about 96.32% and the coins I have staked 1.03 cakes so the coins worth and my earning after 1 year i have 9$ profit. You can easily check your earning by this site easily the link is shown with image.

Source

2.) Pick 3 cryptocurrencies and perform a 7-day and 30-day technical analysis. Draw trend lines and describe whether the coins are in a continuation or reversal pattern.

EUR/USDT:

WEEKLY
The price reversal pattern can be observed over here the trend lines I highlighted are the signs of bearish and bullish market structure. Where the market strategy shows slightly continuation after bearish mode then there is immediate a turn over to the reversal period of market which observed clearly in weekly calendar.

MONTHLY
So here the formation of asset is slightly different from above, here we can say the clear sideways and continuation strategy of market is implemented, though the market after a bearish click made patterns of continuation and sideways. Than after the market moves downward for bearish trend again meanwhile you can see the bullers and bears hold the market in a stable position.

BTC/USDT:

WEEKLY

The strong support if btc/usdt 3767.6 price and the pattern show us the higher and highs and continuation pattern assumed whilst there is good reversal period is obtained and again hits the support thus might it weekends the support line the again bullish trend from this asset and then negative approach of cycle might observed.

MONTHLY
The candlestick formation of btc is quite interesting over here, the market immediately shows you the UPTREND might you can observe that how sharp the strategy of reversal pattern is deploy by the MAREKT through bearish season goes directly without giving continuation or any peanut structure goes to bullish trend and gain back to his position might this us the monthly candle too keep in remember.

BNB/USDT:

WEEKLY
Weekly candles of bnb shows us the reversal pattern and trend lines here are quite definite giving constructive moods of market and trend lines are seriously good a bullish and trend immediate reversal period might often from market.

MONTHLY
Here you can see the higher and highs of candles and making continuation period in 3 candles further you can se a bullish period is occurs and backing to bearish forming a reversal of candlestick are formed so this monthly candles give us both concept of technical analysis.

3.) How can we differentiate a bearish season from a bullish season in the market?

The bearish season is the constant downtrend fall in the price of asset. There you can see the bears are active very effective and efficiently where people are selling their assets because if panic or acquiring of huge profit although it might depends open the negative news about CRYPTO this might let crypto assets price in bearish mode. The BTC seems in bearish season part one month ago and its a period of down trend might observed

Contradicting bullish means upward trend. This period is opposite just of bearish means market is in continuation moving upward and uptrend. As the bulls are active and keeping the market stable and than pulls the market because of some big news and buying pressure. In this the period market often breaks the resistance by emerging with heavy support.

Concluding both downward season the game of bears like bears hit downward position thus the price goes down. Further more bullish season bulls are active and they hit upward the coin and buying pressure plus news leads the coin upward position.

The differentiation concept of bullish and bearish of each are totally separate because the major of downward and uptrend might observed which is the basis of these trends i had illustrated in detaill might you got it.

CONCLUSION:

The strategies of staking Technical analysis and trends in market makes a good combination for understanding a beginner to the basics of crypto. Whilst the most interesting part of this homework is the question 2 where the analysis clears and definite our concepts Further the evaluation of Technical analysis might also revised.

So I delivered the concepts of each question in my easiest manner, so you guys can understand the pros and cons of this title. Our professor also illustrated the homework post in a simple jargons hope you guys got it.

Regards;
@salemumar5