Crypto Academy / Season 3 / Week 5 - Homework Post for @imagen | Market Patterns and Blockchain Projects

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QUESTION 1:

ANSWER 1:

• Make an investment of $ 12 or more. Show screenshots of the process.

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For This Demonstration I am using Binance Exchange and here is my verified account details on Binance exchange.

To Make an investment I am choosing the Basic Attention Token(BAT).

Let's Begin With Procedure of investment on Basic Attention Token(BAT).

• Step 1: Go to your Fiat and Spot wallet on you binance exchange account, As we can see currently I own 76.75708040 USDT and using the USDT I will exchange it with the Basic Attention Token(BAT).

• Step 2: Search For BAT token using the search bar provided.

• Step 3: Click the trade button adjacent to the BAT Token and select the pair BAT/USDT.

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• Step 4: Now you will be redirected to the Trade page of the pair BAT/USDT, We want to Buy BAT, For this I am using the Market order In order to do this quickly, We need to enter the amount of USDT we want to exchange to get BAT, You can use the slider to enter the percentage of USDT you want to exchange, After entering the amount click Buy BAT
  Button.
  

  
  
  

• Step 5: Our Order is Fulfilled, To check the amount of BAT we got, Go to your Fiat and spot wallet, Here we got 131.91633 BAT = $76.63.

• Why did you choose this cryptocurrency?

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• Basic Attention Token(BAT)
  
  
  

Basic Attention Token is a token based on Ethereum Blockchain, It means it is an ERC20 Token and it can be stored in ant ERC20 supported wallet. BAT is a utility token that works as a currency that is distributed among the advertisers, publishers and the users.

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This Token is made to be exchanged between advertisers, publishers and users and now it can also be traded on different cryptocurrency exchanges.

This token is integrated with the Brave Browser with the feature of brave wallet. In brave wallet we will receive the BAT token if we enable the view ads feature to receive ads in exchange of that we will receive tokens.

I personally believe that the brave browser is the future of web browsers as it blocks all the unnecessary advertisements that may contain hacking scripts in it and it also give reward in form of BAT Tokens in exchange of viewing ads, and these ads are send by brave browser teams that are free from malware and hacking scripts.

• What is it Market Capitalization? What is it position in the cryptoasset rankings?

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^{Market Capital as shown on CoinMarketCap}

Market Capital of BAT token is = $864,029,029
Rank of BAT Token is = #82

• What is the objective of the project behind this coin?

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BAT token is a utility token based on Etherium blockchain technology, It is made to be distributed among the advertisers, publishers and users as a reward, It is used with the integration in brave browser, the user see the ads provided by the advertiser and publishers in exchange of that user receives BAT token, the private data is also kept hidden and the user see the advertisement according to their browsing preference and the data of the user is kept on their device only.

• Who founded this coin?

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The Basic attention token is created by the co-founder of Mozilla Firefox, as well as he was creator of java script, His name is Brendan Eich.

^{Brendan Eich}

• Show the roadmap. What is the specific purpose of the cryptocurrency?

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The brave browser is the first browser that provide support of BAT Token, It first got integrated with brave browser in the October 2017, the payments of bitcoin get replaced by BAT token, design research and engineering so that it privately match ads according to their search history without sending it over the internet, measures the ad engagement and user satisfaction via BAM system. Enhance3d rate and flow control for anti-fraud, enhanced machine learning, analytics for early publishers in BAT, private ads trial, Real ads revenue that scales with the growth of the user, BAT integration into other apps based on open source.

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QUESTION 2:

ANSWER 2:

Evening star is a pattern to do technical analysis on price chart over a asset, It is a candlestick pattern that consist of three candlestick, a big green candlestick, a candle stick with small body and a red candle stick. Evening star patterns generally occur at the top of the trend line so it signifies that a uptrend is going to end and after this the price is going to follow downtrend.

• It is used by traders to predict the upcoming downtrend.
• It is a rare trend and it is believed to be reliable.

^{Example of Evening Star on chart of BTC/USDT}

QUESTION 3:

ANSWER 3:

Abandoned baby is used by traders to do technical analysis, This has two types that are upward and downward reversal trends. The abandoned baby model consist of 3 candles. The first one is long and in the direction of the ongoing trend, The second candle is of short body(doji). The second candle is same as the color of previous candle, The third candle is in the opposite direction as of the ongoing trend.

• Bearish Abandoned pattern.

This pattern is seen when the ongoing trend is bullish(upward trend),The first candle stick is long and is a bullish candle stick, The second candlestick is of small body called doji, The third candlestick is also long and is bearIsh (downward trend).

This pattern indicates the price is likely to fall and we should exit the market.

^{Example of Bearish Abandoned pattern.}

• Bullish Abandoned Pattern.

This Pattern is seen when the ongoing trend is bearish(downward trend), This first candle stick is long and bearish candle stick. The second candle stick is of small body called doji, The third candlestick is also long and bearish(downward trend).

This pattern indicates the price is likely to rise and we should enter the market.

^{Example of Bullish Abandoned pattern.}

• Percentage Correct

As we know that the abandoned baby pattern is seen rarely hence It is needed to be confirmed, to confirm this signal different indicators can be used, Thomas Bulkowski stated that the success rate of bullish abandoned pattern is 70% and the success rate of Bearish abandoned baby pattern is 69%.

QUESTION 4:

ANSWER 4:

For this analysis I used 30 min time frame in the 3 days chart.

As these patterns are rarely seen hence I'm able to spot only two pattern That were Evening Star and Three white soldiers.

Evening Star: As we can see previous candles that are showing bullish trend, and After the bullish trend the trend is reversed, The first candle is of long upward body, the second one is of short body, The third candle is of long body and in reversed trend.

Three white soldiers: As we can see previously there is a bearish trend. After bearish trend there are 3 green and long candlesticks. The direction of the trend is bullish. This indicated the endingof the bearish market and the trend is going to get reversed.

For 7 days analysis I used the 2 hour time frame.

Three Black Crow : As we can see previously the trend is bullish, before the pattern starts, That creates a strong selling pressure in the market, Hence price starts to fall rapidly, The selling order are more than buying orders hence it leads to downward trend.

Thank You