Hello professor @imagen, I present to you my assignment task about the introduction to technical analysis of price patterns that you provided to the steemians.

Staking CAKE token on Pancakeswap.

I will be elaborating step by step the staking of CAKE on Pancakeswap using an IOS device. The Dapp browser was removed from the trust wallet for IOS devices, so I connect my wallet manually from my safari browser.

Go to your safari browser and visit the main website of pancakeswap from https://pancakeswap.finance/ then click on connect.

Select wallet connect.

Various wallets will be displayed but in this example, we select Trust wallet since it is where the funds are.

It will immediately detect the installed trust wallet where I was prompted to approve the connection.

Thereafter go back to your safari browser from where you browsed pancakeswap and you will see that your wallet address is already connected.

We will have to convert BNB to CAKE first since it's the coin that I am going to stake. So in this case click on the icon in A then click on icon B to bring the swap menu.

There after inserting the amount of BNB that you want to swap with CAKE then click on swap.

A confirmation pop up will appear then click on confirm swap.

Since it is an external browser we will have to confirm the transaction also from trust wallet then press send.

We shall also receive a transaction receipt on pancakeswap showing that the transaction has been successful then click on close.

On the home page click on the icon A then scroll down and click on pools in B.

Scroll down then click on auto cake and press enable.

A fee for the transaction will be required so you go to trust wallet then approve the transaction by pressing send.

Go back to pancakeswap and click on stake from the auto cake pool that was selected earlier.

A pop up of stake in pool will appear where you will be able to select a percentage of CAKE you would want to stake. In this case, I selected 100% then click on confirm.

Still you are required to confirm the transaction from your trust wallet then click on send.

After confirming the transaction, 0.547 CAKE was successfully staked at a value of $7.01.

I chose Pancakeswap to do the staking of CAKE coins because;

Pancakeswap has got very little charges on transaction fees.

Pancakeswap has got a variety of coins that can be staked to earn some passive income.

It is very easy to connect wallets to pancakeswap.

There is no penalty in removing the stake early.

The amount of CAKE staked was 0.547
The APR was 96.60%
Using the APR formula I will get 1.075 CAKE tokens in a years time .

---

Pick 3 cryptocurrencies and perform a 7-day and 30-day technical analysis. Draw trend lines and describe whether the coins are in a continuation or reversal pattern. Take screenshots.

---

Cardano:

Cardano is right now at a significant point on the chart. As you can see on the daily time frame, it is on the up-sloping blue line which is one of the many levels. It has created a sort of trendline that sets the medium trend for Cardano. One sort of level that looks very key in my opinion is that at around $1 as you can see buyers coming in multiple times. If we look at the trend, it is very possible that Cardano has basically just gotten a pullback.

If we look back keenly, we can see that buyers started coming in on February 15th, April 23rd and another time on May 19th and right now Cardano is testing the support level. In my opinion, this is what has been a medium trend for Cardano, so if a candle closes below the blue line then it would be the first bearish sign.

Polygon:

The entire market is on a bear trend and Polygon is moving down as well. Polygon is ranked 20 on coinmarketcap with approximately $473M in trading volume for the last 24 hrs being up with about 22%. This means that people have more interest during this sell-off which is why there is a trend reversal at least short term.

---

How can we differentiate a bearish season from a bullish season in the market?

A bearish season:

This is a general term used to describe a period of time when the value of assets declines by a significant amount. As it might sound scary, a bearish season is a normal part of the investing process in the financial market. A bear season is usually associated with investors pessimism towards the future of the economy, corporate profits and stock prices in general.

image source

Therefore I would like to thank professors @imagen for such an amazing lecture which has greatly improved my knowledge about Technical Analysis of Price Patterns.