Introduction

Most successful trades were built based on experience, hardwork, and actually a good knowledge of how to trade. Due to all these, most traders come up with their own strategies on how to go about some certaintrades. 😂frankly speaking some dont even share them for free to be honnest. Thanks to the crypto academy we have been able to come across and advantage that will help us.
Im glad to be reading this assignment post for today as i have learnt alot from @stream4u reversal strategy when trading. Hence thus start showing what ive learnt so far.

WHAT IS REVERSE STRATEGY

Reverse strategy is a strategy which helps traders to over come some certain bearish or bullish conditions with a 24 hrs waiting gap to open an opposite position there after.
During a bullish trend a trader would have to place a sell position and likewise during a bearish the trader would have to place or open a buy position
Sometimes opening positions in bullish or bearish market can be very tricky, imagine were there is a bear run and you think it has stopped and so you buy just for you to seen go down more. This is when the reversal strategy comes it, the reversal strategy goes witha principle of a one day gap. To use the reversal cycle, during a bearish or bullish trend traders may have to avoid trading for that 1day cycle, with this in place the reversal strategy strategy can begin.

With a change of about 20% or more , a trader can begin to open positions. Lets say there is a bearish and you wait for 1day before opening a position, youll notice that there will be a -20% change or above so this is a good indicator on when to place a sell position on the market. By the end of the day, the trader would exit his or her position as the market would begin to go back down, this time around you can follow the reversal strategy all over again as it had been effective.

Why does a reversal occur

With the start of a bull run, most traders (buyers) on predicting the trend would open positions on the trade. The market continues to soar high and then traders start to exit or close their trades usually with a 20%percent change or more, but mainly with a 20%change. With this massive exits, sellers begin to notice the buyers pulling back and then they start placing sell trades therefore generating a down trend in prices.

HOW TO APPLY THE REVERSE STRATEGY

Ill be demonstrating this strategy today using the trading view website. link. ill be using the btc/USD pair

Bearish reversal.

Notice that the pullback that confirms an upcoming bull run.
I took precautions by placing the stop loss at a previous high
The take profit came at the end of the downtrend signifying an increase in price very soon
After that there is a steady fluctuation moving as an uptrend

Bullish reversal

I placed a stop loss at a previous low as a precaution
Notice the pull back ahead of it inwhich i signified a buying time
I placed a take profit sign close to the opening price of the red candle.
After the green candle came a resistance which later passed on and moved with an uptrend

TIPS FOR TRADERS USING THE REVERSE STRATEGY

The reverse strategy is a great method to be used when predicting and placing trades but in trading carefulness and risks are over emphasized. Most traders would take some certain measures even when about to use the reversal strategy.

• USE OF INDICATORS

Indicators help predict future trade movements and show past movements through charts and bars. They are technical analysis used by alot of traders for example the RSI, MACD SMMA etc and alot more. Even when using the reversal strategy it would be more advisable to add an indicator to over emphasize on your work and make sure of your analysis.

_{you can see the RSI and MACD charts used to predict trade. In the RSI when the charts go above 70 it means the currency has been over bought so you should sell, if it goes below 30 that means it has been oversold so you buy}

• Control your emotions

Most traders often fall into loss because they couldn’t control their emotions, it may be greed, it may be fear. Fear maybe selling at a wrong time because you think something may happen or the price might fall or rise more depending on which trade you placed. Greed may also come in when youve got an appropriate amount but you wish to get more and you leave it which you may just run out of luck. At a reasonable amount , it is advisable to close with the profits and walk away.

_{i bought and sold before the the run ended to avoid the loss ahead}

• Have a plan

Before trader its good you plan your self well. To avoid your emotions taking over your reasoning, its wise to set a take profit. While using reverse strategy its wise to set a take profit at the opening price of the former candle.

• Try other markets

Trading of assets isn’t only limited to the crypto markets, you can as well try the stock markets. In the crypto markets, the opening price is usually the same as the closing price but in stock trading, the opening price isnt necessarily the same as the closing price. Meaning whenever the prices are the same using reversal strategy may be the best option.

COIN GECKO

INTRODUCTION

Crypto currencies are slowly taking over the world as it has gained popularity over the years with bitcoin leading it. These days there are thousands of crypto currency’s each growing with potential. Most people on seeing the upsurge of bitcoin and painfully realizing how they had missed its glory decide to join other growing crypto currencies alike and i such cases there is a search for information. People seek to know more about a particular crypto before venturing into it and they go to google, ask friends watch youtube video but right now we have COIN GECKO which is aleading crypto website with loads of information on all crypto currency’s available and a list of thousands of crypto currency’s within its data base . Each of them are listed according to their ranks.

WHAT IS COINGECKO

Founded in 2014, CoinGecko is one among on of the top leading websites for crypto prices listings. It also welcomes new crypto users to the community with educational materials, yield gain calculations, and interactive giveaways etc. When you open COIN GECKO LINK a list of crypto currency’s with bitcoin being the default number one show on the homepage.However there are thousands of coins out there to get . Without the right tools to refine your search, sifting through project after project are often tiresome, this is why CoinGecko has made it easier by listing the characteristics of cryptocurrencies to help users ascertain the data and wealth of the crypto they wish to embark on or gain knowledge about. To break what im saying down , coin gecko is basically a google for “crypto currency’s “

WHAT DOES COIN GECKO DO?

•PROVIDES DATA OR INFORMATION ABOUT CRYPTO CURRENCIES

Coin gecko has a list of thousands of crypto currency’s within its database. They are all listed according to their ranks or lets say popularity. Each cryptocurrency is attached with every information about it, market cap, supply, price, price change , value etc. If you tap the about icons it gives a descriptive explanation about the crypto currency there is the about, used cases, social media stats etc

NEWS FEED

From what ive explained so far about the coin gecko websit you may understand that it has a broad reach and as such it also provides latest news on the crypt verse(crypto world). This will helps traders when making analysis for a trade

Online portfolio

A virtual portflio is available for users to keep track of their investments and as such it has bee very helpful so far.

PROVISION OF LINKS

Coin gecko helps people to locate more information about a particular crypto currency by providing links below. It is really difficult to find all this decentralized information online hence, coin gecko brings it all into one place. Such links include the crypto website link, social media links, wallet links, community links etc

EXCHANGE

It provides information on different exchanges like a cryptocurrency trading volume and coins while ranking them from the top crypto

FEATURES OF COIN GECKO

HOMEPAGE

When you open the coin gecko website the homepage first pops up LINK. It contains a list of coins with with the first 100 ranked by their market cap. You can see some other links at the menu bar such as the fliter( to manipulate the homepage view), portfolio, explore coins, recently added etc

SEARCH

On the top menu of the coin gecko page lies the search bar. Since the website has a very long list of crypto currency’s available, navigation is quite difficult so the search Option is used for easy navigation to help users find any crypto currency or token by inputing their names and clicking on them.

DERRIVATIVE MARKET TRACKER

Coin gecko had an available feature that user can use to track derivatives like leveraged tokens, perpetuals, futures

POPULAR COINS

Coin gecko gives a daily list of some coins ranked according to their popularity. These are the current trending coins and this could help investors or traders get more knowledge or inside views on other coin options.

NFT TRACKER

Asides from derrivatives, non fungible tokens(nfts) are also tracked on this website. The platforms also shows different variety of NFTs and puts a spotlight on some.

weekly price forcast for crypto coin BTC

BTC in is full form is known as the bitcoin. One of the first leading crypto currencies founded in the year 2008. I was invented by a person or group known as “satoshi nakamoto” and grew from as low or lesser than a dollar to reaching its all high as $63,729.

WHY BTC
BTC was the first crypto i ever bought, i didnt real buy it because i full understood it or understood how it worked. I bought it based on popularity. Since then i have grown a reasonable amount on knowledge on not just BTC but the cryptoverse at large. BTC jas shown really impressive movements from the last time i saw it and it had grown from less that a dollar to up to $64,000 dollars which is really impressive. I joined BTC when it was still at around 10000 or less and since then i would love to say it has shown really great improvements.

BTC PRICE AND MARKET STATS

Price	$38,068.07
Market cap	$712,394,366,704
Circulating supply	19millionBTC
Trading volume	$70,636,652,365
Market cap rank	#1
All time high	64,804
All time low	$67.81

Technical analysis on BTC

I have been holding BTC for a while now and recently it has had a really bad drop and im going to give a comprehensive analysis on when to buy. Already i had sold some of my BTC before the dip as i has predicted it would come although i didnt expect it to be this much, i also noticed a bearish divergence. The price fell after the divergence.

I used technical indicators such as the RSI and MACD to help access my work better. The dip went low and experienced some resistance at 37,699 with a possible pull back

From the RSI analysis, the charts has shown that BTC has been over sold and hence , it’ll need to correct it self soon enough, there is already a resistance after the dip meaning a possible resurrection

I would place my stop loss at that point and wait to see trade movements before placing a buy order. I expect the current price to hit about $57,000 by next week. But just to be safe ill sell at $46,737.

In conclusion
The reversal strategy has been really insightful and educational as i now know how to go about and predict future bearish and bullish runs. With the help of indicators itll make my work much more efficient. The coin gecko website is my most recommended website as even before now i have been using it and so far so good it has been really helpful. I get better at making technical analysis thanks to crypto academy buy i believe is not enough and i will put more effort towards coming times. Special thanks to @stream4u for this lesson today

Cc
@stream4u

Review of BTC stats and Prices
Price	$38,068.07
Market cap	$712,394,366,704
Trading volume	$70,636,652,365
Market cap rank	#1
Circulating supply	19millionBTC
Total circulating supply	21million BTC
All time high	$64,804
All time low	$67.81