Crypto Academy Season Two Week 6: Homework Post for @stream4u

Hello everyone, It excites me so much to take part in this week's crypto homework task. This week with professor @stream4u is all about a technical strategy called Reverse Strategy and COINGECKO and that of Crypto Prices and Market.
I will be dissolving this topic with the question that has been asked by the professor.

On this note, I will start by explaining what a Technical Details On Reverse Strategy is.

Technical Details On Reverse Strategy

Reverse Strategy has to deal with making a profit through trend reversals in the market. This is done when an uptrend is seen typically to lose out in volume and steam while also a reduction in lower highs before the markets come to settle into a very tight range. The idea of this reverse strategy in trading cryptocurrencies is centered on using technical analysis in other to make out good decisions upon the zeal of making an investment in any crypto asset be it a bullish or bearish trend market trend.

In a simple sentence, the reverse strategy is employed in investment to prevent loss that will be made when there is a notice of a crypto asset turns out to be a bullish or bearish trend in the market. In this case, the analysis is needed in other to make a profit.

Moreover, this trading strategy helps traders in other to gain grounds in the process of trading. This tries to prevent all losses making it available for the crypto asset about to be invested on to pass a 24-hour test using this strategy.

How Reverse Strategy Works

The Reverse strategy works by taking into consideration the following points stated

1. Opening price
2. High Point
3. Low Point
4. Close Point

This strategy works solely upon the fact that the opening price and closing point alert the investor us to how an investment could be a success only if the opening price is close to the last previous closing point. In this case, The investors will make a very good investment taking care of these two points, and also, the High point and Low point tell the investor when and where to live the trade. In a case where the high point approaches the last previous one whiles holding his crypto assets, it will be a notice to the investor to exit the trade.

The screenshot above shows the Reverse Strategy on ETH/USD

REVIEW OF COINGECKO

The CoinGecko is said to be a platform that has information about all cryptocurrencies' assets in the market. This simply means that the CoinGecko provides in detail, information on all the technical and also fundamental details of assets available in the market. (Crypto coins). The CoinGecko has its developer be TM Lee and Bobby Ong which was created in the year 2014. Also, the CoinGecko tracks the various crypto coins in the CoinGecko market. Another feature of it is, it's really simple and user-friendly whereas, it shows the performance of some crypto assets in the market. You can have access to the CoinGecko website through, CoinGecko

A screenshot below shows the interface of the CoinGecko website

You can see above clearly the arrangement of crypto assets in the market on the coinGecko website

1. Bitcoin as first

2. Ethereum as second

3. Binance Coin as third and so on.

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

The first thing I will like to talk about is the fact that the CoinGecko holds information about all the crypto assets available on it which makes it possible for users to track the progress of these various coins.

Also, as much as the CoinGecko website holds information about crypto assets, it gives liberty to the investor to know which crypto coin they should invest in.

Additionally, the CoinGecko website also holds information that is very useful to an investor, this is the rise and fall in prices of all crypto assets and also holds details of various coins and tracks the progress within time to time.

Explore COINGECKO features with information.

The CoinGecko website has a lot of features which I will explain with eh help of a Screenshot.

Exchanges

The first feature I will like to talk about from the list of features available is Exchanges. Under this feature, there are other features you can find which are DEX, Spot, and lastly is the Derivatives. The Spot provides necessary information on all Spot services. The Dex option gives information on all decentralized Exchanges while the Derivatives service gives information about all contract trading services.

From the list that appears select the DEX option to explore the decentralized exchanges

The various decentralized exchanges ranked below the total volume shown above.

Categories

Another feature is the categories that provide users information with the available cryptocurrencies on the market. There are other details that are provided by the market capitalization, volume, and prices of these cryptocurrencies. Options include Decentralized Finance (Defi), Exchange-based tokens, Centralized Exchange Token (CEX), Stablecoins, Binance Smart Chain Ecosystem

A screenshot below of the Categories.

Developer

CoinGecko holds information contributions that are made by the developers which are said to be an exchange to the projects being carried out. Giving a chance to the website to grow.

A screenshot below

Currency

This feature gives the opportunity to know what the current prices of cryptocurrencies will be therefore there is no need for searching for currency converters.

Explore All Coins

This feature displays all the available cryptocurrencies present in the market. These currencies
are ranked according to their market capitalization, information on supply is also given.

Screenshot below

Weekly Price Forcast For Crypto Coin BTC/USD

As always done every week with the professor to pick a coin and make predictions, I have always made predictions on BTC and I must commend myself for sometimes making the right predictions. The prices of all cryptocurrencies have gone through lapses just this week as a result of one or two issues, But looking at the trend, there will be a spike as I see things.

BITCOIN

source

Bitcoin was said to be invented in the year 2008 by people who are not known not even until now, although they came out with the name Satoshi Nakamoto. The currency began to be used in the year 2009. Initially, it was open-source software. Bitcoin is a decentralized blockchain system that has nothing to do with any central bank

Reason For Choosing Bitcoin

Bitcoin as a decentralized blockchain has so many benefits. It is a crypto that has not fallen so deeply to the brim after it was introduced and in use. Bitcoin has really made a lot of changes in the lives of people. We all know that it is the first largest used crypto in the world. There are other reasons for choosing this coin, but the above are the important reasons.

TECHNICAL ANALYSIS ON BTC/USD

This is a tool I will employ in other to make a prediction on BTC for the next coming week. Here I will check the current price of Bitcoin and the price a couple of hours ago. Also, I will be making good use of my support and resistance levels which will be able to give me a good prediction of the price of Bitcoin coming next week.

Below is a screenshot of my technical analysis.

Prediction for the next one week

Just as there are profit and losses in business. I made some predictions earlier on this course during our previous lectures, some of my predictions were right but others were wrong.

As can be seen above in the screenshot, the current price of BTC is $ 37,423.03 as at the time I did my assignment. Now in the screenshot, there is an arrow pointing upwards, so I will be predicting the price of BTC about $ 50,000.00 and above. This is my prediction for Bitcoin for the coming week.

Conclusion

I will conclude by saying that this lecture with professor @stream4u is always interesting. We get to practicalize what we learn in the crypto world. Thanks for this topic chosen for the week. I was an interesting topic I must say.
Thank you all for reading my post.