Crypto Academy Week 14 | Homework Post For @stream4u | Tecnical: Reverse Strategy | Crypto Prices & Market Source: Review Of COINGECKO

Introduction

I am glad to participate in this week lecture. I must confess I really learned a lot from professors @stream4u lecture. He talked about Reverse Strategy and Review of Coingecko and he explained comprehensively.

Technical Details On Reverse strategy?

Reverse strategy is a strategy used in technical analysis to know a longer a Bullish or Bearish in other to know the best to buy or sell crypto coin. Before trading its good consider the trend.

How does reverse Strategy works?

When we observe that the Bullish or Bearish, it is essential to the trader should look closely to when the longer Bearish or Bullish change the movement in other to know right moment trade. When the longer Bearish movement stop and change the direction, it would be best to buy at that time. But won't be advisable for one to buy crypto coin when the longer Bearish have not stop it movement because it possible the price would continue to fall. It is advisable to buy crypto coin when the longer Bearish stop and change it direction.

I will be good stop trading in 24hrs so that we can monitor the Bullish and Bearish which is day change at +20 or -20 upward. We need to take notice the longer Bearing some minutes before the day runs out because some sellers may exist and some buyers enter and that could effect the price. At the end of the 24hrs it would be good to consider the opening price, high point, low point and close point.

Reverse Strategy on BTC/USDT pair

Review of COINGECKO
In this part of the task, I will be talking about what CoinGecko means and its importance

What is CoinGecko?

CoinGecko gives a basic analysis of the cryptocurrency platform. As well as tracking price, volume and market capitalization, CoinGecko tracks platform development, open-source code improvement, major event and on-chain measurement.

How CoinGecko can be helpful for you in a Crypto Market?

The information on many exchanges and many currencies can to the exact price in other know when to buy and when to exit. CoinGecko have a easy to use interface with many siblings. With help of many filter, display, and compare options, users can customize according to their needs. CoinGecko can be helpful in showing and remember certain information and coin visually like Bitcoin Halving, Litecoin Halving.

Explore COINGECKO features with information

Trending coins: we can search for trending coin by clicking the search bar. It will display the trending coins and that's very useful.

Crypto Exchangers: We can look at the exchanger trading a particular coin when we have a coin mind to trade by clicking on market and clicking on the pair leads you to the exchanges page.

CoinGecko's Trust Score Algorithm: The exchangers are rank base on the trust score algorithms. Trust is displayed under the trust score column. Trust score is displayed in green yellow red or none under under the trust score column.

Weekly Price Forcast For Crypto Coin BTC/USDT pair

For the study, I will be using the TRX/USDT pair because BTC price has dropped this couples of days. Though, they had been some increase in the price last week yet the price fell this couple of days.

Why I have chosen BTC?

There many other cryptocurrencies on the market but the truth is no other crptocurrencies even come near to Bitcoin.
Aside from the numerous advantages that Bitcoin has over FIAT currencies, it is also much more superior compared to other crypocurrencies. It infrastructure is also more better, which add to the stability of the coin.

Sentiment Analysis- BTC/USDT pair

Bitcoin's values went up to begin 2021. It hit the all time high of $64,829 in April. Bitcoin has led the charge as crypto's poster child. BTC fell as low as $42,141 for a close 30% drop from recent highs.

Look at this chart, we can see that BTC price has face resistance in the couples of weeks. BTC has struggled to move above $60,000. It has also moved below the 23.6 Fibonacci retracement degree and presently approaching the 38.2 retracement. The shows that the bears are prevailing. From my perspective, bearish trend will likely continue as bears is on it way to 50% Fibonacci retracement degree at $32,700.

Output of Sentimental Analysis on BTC/USDT pair

The analysis was based on the trend of some couple of ways and resistances bears over some days.

A move above $50,000 will invalidate the trend

Conclusion
The reversal strategy is a useful strategy that works for trader and help trader to take advantages of longer bullish or bearish market. This strategy help traders to know the right moment to buy or sell their cryptocurrecies.
My regards to @stream4u for this wonderful lecture.

Cc:@stream4u

Written by;
@olaspecial