Steemit Crypto Academy | Season 3: Week 5 || Death cross & Golden cross, How to use Binance P2P trade
First of all, welcome to my course of week 5 of season 3. Today we will read about a very popular indicator and try to understand it in simple words.
This indicator is called Death cross and Golden cross. Dear students, as you have read and understood about many indicators, death cross and Golden cross are also indicators, and they provide information about the market trend,what is the average market trend in the coming days or past days.
Death cross and golden cross indicator indicate about long term and short term bull run or bear market . DC and GC give indication about market trend that market trend is going up or coming down and to find out these indication of market trend incarnation within certain days or time.
In simple words, if I say that the golden cross means that the trend in the market is going towards the bull and this bull can be in the market for a long time and also for a short period.
But the golden cross means that now investors are investing their money in the market and thus if we try to understand the death cross in simple terms, it means that now the market trend is towards bear and the investor's tendency is to sell.
Is higher and the price is about to fall. And this death cross can be for a long time or even for a short time.
How many days market moving average is taken to see Death cross and Golden cross in market?
To understand the Death Cross and the Golden Cross, we must also understand the average concept of the market. We have to look at death cross and Golden cross through short trem and long term moving average.
We need two moving averages to see Dc and GC. One moving average is seen as a short term market trend and the other moving average represents a long term market trend.
Traders typically test death cross and Golden cross by setting a 50 day short term moving average and a 200 day long term moving average.
We also call the moving average MA indicator. By moving average we mean the average with which the market has gone up or down on certain days, and for this two moving average indicators are always set.
One moving average is called short term average and the other is called long term average. The short term moving average is 50, 15 days but more importance is given to 50 days only. Thus long moving average of 200 days is taken.
Golden Cross Considering all the points mentioned above, we will define the golden cross in such a way that when the short term 50 days moving average line crosses the long term 200 days moving average up trend, the golden cross will be created. And so this is a sign that the golden cross buy trend is up and market price will go up.
Death Cross When the long term moving average which is 200 days crosses abovethe short term moving average from above then we call it the occurrence of death cross. And from this cross, trader investors estimate that now the market will go down and the trend of sell order increases.
How to see death cross and golden cross on the chart.
Here I will explain to you in practice how we can see DC and GC on the chart before trade and how we can set long term moving average and short term moving average so that we can see Death and Golden cross occur.
I always use the tradingview website whenever I use the indicator. Whatever trading website you have, you can use it. First you have to open the tradingview website.
- Google search engine
- Type trading view website name
- Click on first result "TradingView"
- Click on "Chart"
As you click on the chart, a chart will open in front of you. You can see in the screenshot above. You have to click on indicators & Strategies at the top. You can see in the screenshot.
But before you click on the indicators, you have to see which market you want to see the DC and GC charts. For example BTC, steem or over all market.
You can see in screenshot number one above that as soon as I clicked on indicators & Stratgeies a "Search bar" appeared. You have to type MA in the search field and at the bottom , will appear "Moving Average indicator".
You have to double click on "Average indicator" and then click the cross button to close the page with indicator.
Now you are on the chart. You can see two indicators on chart 3.Now we have to go to the setting of these two indicators and set 50 days moving average which is called short term moving average.
In screenshot number four, you can see that I have set a moving average of 50 days while screenshot number 6 which is a second indicator has a moving average set of 200 days.
The moving average of 50 days is green and the moving average of 200 days is red so that it is clear.
Death cross and Golden cross on the chart
Now you can see in the death cross chart that Death cross was occured on 18th April, then I have also put a circle on the second death cross, so how to check golden cross and death cross on chart, hope you got understand it .
Many traders think that at the time of death cross we should sell our asset as soon as possible so as to avoid losses. Dear students, always remember that whenever a death cross occured, it was sometimes for a long time and sometimes for a very short time.
But it has also been observed that the market trend has gone up despite the death cross being occused. And history also shows that despite the Golden Cross, the market trend has gone down.
Dear students DC and GC are the only indicators that inform us about the market trend. And always keep in mind that if there is a Death cross then there will be a Golden cross occure and if there is to be a Death cross after the Golden cross then always trade safely and understand all the indicators and market trend
How to use Binance P2P
In this topic I will tell you how through Binance we can sell our cryptocurrency in our local currency and receive money in seconds in our bank or mobile wallet.
If you have a binance account, you can login to Binance and Read the course carefully.
Today's topic will enable you to easily receive your steemit blockchain earnings in your own bank wallet or mobile wallet.
Binance's P2P feature allows you to sell and buy cryptocurrency in your national currency.
users sell and buy pait to pair.
So this feature p2p means peer-to-peer transaction. With the p2p feature we can sell our crypto and also buy through it.
The role of exchange is only that of facilitator and there is no fee margin.
p2p is a very simple way by which we can sell our crypto earnings in our national currency. So let me teach you how to sell crypto in national currency using p2p.
Binance's P2P feature allows you to sell and buy cryptocurrency in your national currency.
- First Login to your binance account.
- Then click on wallet.
- Then click on P2P.
- Here you can see a list of many cryptocurrencies that we can buy or sell or send, transfer via p2p. So the crypto you want to sell, first you have to transfer it to p2p wallet.
Sell Sell means that users / traders can trade and sell the cryptocurrency in P2P wallet through p2p trade.
Buy Buy means that users or traders can buy cryptocurrency with the currency of their choice by trading through p2p.
Transfer Transfer means that in p2p wallet you use this option if you want to transfer the cryptocurrency that you have in another binance wallet from there to p2p or send it from p2p to another binance wallet ۔
Send Send means that if you want to send crypto currency from p2p wallet to another binance account, you will use the send option.
How to transfer cryptocurrency to p2p
- First, click on wallet.
- Then click on Overview.
- Then click on transfer.
- Now here you are seeing different options.
- From means from which wallet you want to transfer.
- To means to which wallet you want to transfer to.
- With the Coin option you have to select the coin that you want to transfer.
- Amount option You will write the amount you want to transfer.
I will transfer Usdt coin from Fiat and Spot wallet to P2p , you can see in above screenshot , transfered is done to p2p wallet.
How to sell cryptocurrency in local currency (Country currency)
Now we will learn that crypto is in our p2p wallet. How do we sell it in our national currency?
- First, click on trade.
- Then click on p2p. As soon as we click on p2p, p2p's trade page market will open.
- If we want to sell our cryptocurrency, we will click on sell and if we want to buy, we will click on buy. We will sell at that time. So I have clicked sell.
- Now you can see different option on the right.
I want to sell Usdt in pakistani currency then I have clicked on sell first, then in search option, i have selected PKR pakistani currency, all payment i have selected jazz cash account.
Because I want to receive my money in jazz cash mobile wallet. Thus in all payments option you can select the bank account or mobile account that are available in your country.
And after selecting all these options, we will click on the Red button on which sell is written.
As soon as we click on sell, we will get the info of the concerned buyer and the clock time will tell us how long it may take to fill this transaction quote. If the buyer does not complete the trade on time, the trade will be canceled. You have to enter the amount you want to sell in i want to sell and then you will know how much the buyer will pay you. Fill in the form and enter your account details and then click sell usdt. This way the buyer will transfer the money to your provided account and when he transfers the required amount to your account you will be satisfied. After doing so, transfer the usdt to the trader. This way all the steemians can easily sell their steemmit earnings in their national currency.
When the buyer sends you the required amount, he/she will tell you in the chat and you should always look at the screenshot and then check your wallet that the required amount has been sent by the buyer in full.
Because sometimes send less and don't send to Usdt buyer until the money is full. And so when your money reaches your account, you will get a message on your registered phone.
And you have to click on Confirm and then enter the secret keys code and confirm the order. Always make sure you have received the money. If not, do not confirm the order.
First and last advice: Always confirm the order when you receive the payment. I hope you enjoyed today's lecture. Thank you very much
Homework week-1 :
Question no 1:
Define Death Cross and Golden Cross in your own words. And what is the significance of DC and GC in trade? And what effect do these two have on the market?(in your own words.)
Question no 2:
Explain the points given below.
- How many days moving average is taken to see Death cross and Golden cross in market for better result and why?
- How to see death cross and golden cross on the chart.
- Explain Death cross and Golden cross on the chart, (screenshot necessary)
Question no 3:
- What is Binance P2P and how to use it ?
- How to transfer cryptocurrency to p2p wallet?
- How to sell cryptocurrency in local currency via p2p (any country or coin)(screen shot neccessary to verify account)
Question no 4:
What are the things to keep in mind during P2P trade and descrbe its four advantages and disadvantages.(own words)
Important Students can use any exchange to solve P2P trade questions. Which facilitates exchange P2P. All questions are required and a screenshot must be attached.
Important All Homework posts should be posted in the community Steemit Crypto Academy .
Your Homework should be at least 300-1000 words.(if any students want to explain more words ,it is allowed)
Use only copy-right free images
PLAGIARISM Will not be Accepted, make sure your content in the post is not copied and pasted from other sources.
Plagiarism and spinning of other users’ articles will not be tolerated in the homework task. Otherwise repeat offenders will be blacklisted and banned from the Crypto Academy.
Courses participation time is from 00:00 26th to 23:59 31 July
Users having a reputation of minimum reputation of 55 and at least 250 Steem Power of their own (not delegated to them).
Users who are powering down will not be voted and considered excluded from participation.
- It is necessary to complete all given questions in the week 3 course to gain the full marks.
Crypto Professors at Steemit Crypto Academy