Hello, friend's this is 3rd week of Crypto academy, and here's my homework for this week, given by our crypto professor @stream4u.

So let's start with the Questions.

1. What Is The Meaning Of Support Can Become Resistance & Resistance Become Support?

We all get to know about the Support and resistance in our last professor lecture and we can easily identify the support & resistance. So now the meaning of becoming resistance as support and support as resistance is, firstly you set your support and resistance at somewhere in the chart at your resistance point you expected to price come down but it now came down instead it still going upward and in sometimes it came down but it again bounces back from the resistance point which you set earlier.

Same you set support somewhere and expected that price will go up from here but it goes down and down and sometimes it's moving upward but again pull back from the point which earlier you set as support. so this is the meaning of becoming support as resistance and resistance as support.

2. What Is A Technical Indicator?

As our professor, @stream4u said the name itself it said that it will indicate something. Technical indicators used to analyze the technical chart and it mostly used to perform short-term trading. we can add the indicator from the symbol which looks like F or in maths we used it as a function(I don't know how to type that symbol here).

In my earlier posts, I said that I use Bollinger Band Indicatore to find support and resistance. I'm not familiar with more indicators I hardly use only 2-3 Indicatore (one at a time) and it's good practice to use 1 indicator at the and hardly use 2 indicate at a time. it gives you a clear idea and helps you to take the right tread call.

Some of other Indicatore which I use is Net Volume which indicated the net volume of asset which in the market. Means how much asset get buy call or sell call.

3. view and explore TradingView?

Frankly speaking I not done much analysis on crypto-assets till now. The all crypto analysis I did all are just after reading all these crypto academy posts written by professor @stream4u and also those for the homework task. I do mostly stock market analysis and those I learn from here only.

I also not visited most platforms for analysis but one thing which I surly loved about the trading view is that it provides technical results or treads call. like sell, buy, Neutral, strong sell, strong buy, etc. As well as you get crypto news at treading View website.

On the treading view website, you can not just monitor only crypto assets but also can analyze the US stock market as well and also different countries' currency charts.

4. What is the 200 Moving Average?

As our professor said it is a life that shows the average closing of the past 200 days. As he said is the price is below 200 average so it may be possible that it came down or go up. In that case, the trade call also depends on the nature of the market.

Let's assume the market is bullish so it will defiantly cross its 200 average lines and who knows that it will reach to new all-time high or 52 weeks high. So in this situation, I will not take a sell call but if the market is neutral then I will surely sell the asset and if it crosses the 200 average lines then I will buy it again but not just after crossing the 200 average lines I will also monitor the movement of the asset at that time then only will take a buy call and same vice versa for asset trading at up from 200 average line condition.

So this is all from my end.
Note: All the images are taken from somewhere from the internet and the Screenshots of charts are taken from Coingeckowebsite.

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Thank you
@akkibadbboy
Moderator: Steeming India Community