STEEMIT CRYPTO ACADEMY: COURSE BY @stream4u -- TECHNICAL REVERSE STRATEGY & REVIEW OF COINGECKO

INTRODUCTION

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Hello fellow steemians it's another week in the steemit crypto academy hope we are all getting something from this assignment. It's really helping me in trading I have learnt a lot of trading strategy. Here Is another opportunity from @stream4u to learn the reversal strategy.

REVERSE STRATEGY

The word reverse is not new to everyone when you hear the word reverse the first thing that come to your mind is step back, retrace. Now let put it in place while trading it simply means the the opposite movement of the chat. If the chat has been going up then fall (bearish) or the other way round (bullish). When the market retrace it's movement in the other direction this is the reverse strategy.

WHAT IS REVERSE STRATEGY AND HOW IT WORKS.

Reverse Strategy is when the direction of price trend changed from going up to going down and vice versa. when this happens trader tries to get out of the position that are aligned with the trend against the reversal.

When reversal happens in the crypto market traders get in and out of the market depending on the reverse strategy. If it's a Bearish Reverse Strategy sellers start to sell while buyers exit the market and if it's is a Bullish Reverse Strategy buyers come in they start buying which means it's the buying point seller close their trade.

Reversal Trading Strategy can be more profitable if one knows how to trade with it. It can also give a great loss if one enters the market at the wrong time.

HOW REVERSE STRATEGY WORKS

Reversal strategy is one of the best strategy very profitable if one can do it well. But to trade with reverse strategy you have to put resistance and support in place and also the accumulation stage so you won't pick it wrongly.

To pick the reverse strategy correctly you also have to consider resistance and support because if the market reverse and does not make support or resistance with any candle stick it might just be a pull back and that market tends to breakout. At this point the loss risk Is very high

The screenshot below shows the wrong reversal if you had bought at this point there will be a great loss

The Accumulation Stage if you identify support and resistance on a daily time frame, then one can identify the accumulation stage on the 1 hour timeframe or more.
At the accumulation point there is high tendency that the price will breakout leading to higher profitable risk.

Here is the screenshot of a breakout after accumulation you see the reversal strategy is strong

HOW TO TIME ENTRIES, STOP LOSS AND EXIT IN A REVERSE STRATEGY

Entry Point
Its very difficult to buy when the market is falling. So you need experience to know the best time to buy. So we use the reverse strategy here you use the reversal candlestick like the bearish and bullish point. So you can enter the market when it shows sigh of reversal. The one day candlestick for the next day won't be will be in same range with the high point or low point for the day before the you know the market is about to reverse. Than you can enter the trade that the entry point.

The entry point

Stop loss

You wonder how you set your stop loss. To set stop loss you place it won't activate your trading set up. If it's is a Bullish Reversal strategy the your stop loss will be bellow your entry point. You should know that once your stop loss is hit you don't meet to enter the trade again. You stop loss will be the low or high of the last candlestick

Exist

When to exist a trade depends on your aim you can decide to exist with enough profit or you hold for a longer time to get more profit. But don't be too greedy while trading. Because you can lose all your profit at once.

That's will be all on the Reverse Strategy

2: REVIEW OF COINGECKO

Coingecko is the world largest independence cryptocurrency data collector with over 7000 different cryptocurrency tracked across 472 exchanges. It is a digital currency price and information platform that collect data for over 7000 crypto asset and list them according to their rank and stability.

HOW COIN GECKO HELPS IT USERS

It help In evaluation and ranking of coin we can track a coin on COINGECKO before buying it in our various exchange. It display all the features of the crypto assets in it list. Before you buy a coin you can check it's rank and stability and how well the company is doing on the COINGECKO before investing in such crypto asset

COINGECKO FEATURES

When you open the COINGECKO site it display the number of coin it's has the number of exchange. It list the coin in order of their market capitalization.
It display the coin price in different time zone like 1hour, 24 hours and also the 24hours trading volume and market capitalization. You can view the chat of each of the asset.

EXCHANGE
It also display the number of cryptocurrency exchange and listed them in order of trust score

As you can see binance is the best then coin base and many others. You can get the best exchange to you on COINGECKO it has made it easier for us so we won't get scammed by an unregistered crypto exchange.
It also display three types of exchange the spot, decentralized exchange token and An derivative exchange

Decentralized exchange

Derivative

DECENTRALIZED FINANCE(DeFi)

COINGECKO also display top 100 DeFi coin listing them by order of market capitalization

NON FUNGIBLE TOKEN (NFT)
Coingecko does not only list also define them
It display top 100 NFT token in it's list also by market capitalization.

CURRENCY
COINGECKO provides different currency option so anybody can check the current price from different currency with ease. It make it's more easier for people all over the world to access it.

CRYPTOCURRENCY GLOBAL CHART
COINGECKO analyses the CRYPTOCURRENCY chart globally base on different time frame

You can also create an account on the COINGECKO and have your own wallet too

Registering an account in COINGECKO is so easy and fast. You get 10 candies for daily login

Weekly Price Forecast For ETH
I will try forecast the movement of ETH in two different time zone the 1hour time frame and 1 day time frame. I will forecast the trend of the market. Looking at the one hour Chart ETH is still in accumulation point you can keep buying and it already made support with another candle so we should expect a breakout soon ETH will rise. Using the MACD and RSI indicator you see it's already in the buy point the MACD already crossed showing support.

Let's take a look at the one day time frame

Looking at the chat you see it's already Reverse So it's in the buy point we can keep buying ETH and looking at that RSI indicator it's above 50 now so the price of ETH is definitely going up.

CONCLUSION

Thats all on the reverse strategy and review on COINGECKO. This was a great lecture for @stream4u I will start using this strategy while trading as from today onward. I really enjoyed the lecture sir

CC @stream4u