Steemit Crypto Academy Contest Season 4 Week 1 - Crypto Market Technical Analysis

Introduction

We welcome you to season 4 of the Steemit Engagement Challenge, we believe this is an update you have been anticipating over the previous weeks and here it comes. It's another time to journey together and we hope you are well prepared for this. The first contest for the season is ready and we will walk through it in this piece.

Crypto Market Technical Analysis

Participation in any financial realm requires proper knowledge of the product you aim to invest into, measuring the market performance of the asset over time and how it's behaving at the moment, this is quite important to have a better understanding of the asset before investing. In some cases, it might involve looking at the historical price events of the asset in question to ensure you understand its market behavior.

In the quest to learn more about a financial market, different methods may be employed depending on the expertise of a user or a method that suits a trader the most, all aimed at having more knowledge of the product they are trying to invest in to ascertain that money put in such market or product would be safe after proper analysis. Either for the long-term or short-term, a type of analysis is required so that traders reduce their risks in investment.

The Crypto market is not an exception, interaction (buying and selling) with different assets in the crypto ecosystem requires conducting a proper analysis of assets before going into such assets' market. One of the analysis methods in the crypto markets is technical analysis which allows traders to have an overview of a market using different tools before concluding on trading any asset. What can you say about technical analysis? We want to hear from you.

What is Expected in the Contest?

How would you define Technical Analysis in the Crypto ecosystem? Mention its Importance.

Do you have practical knowledge of how to conduct technical analysis? Highlight some of the components of Technical analysis.

What do you understand by technical indicators? Do you consider them effective for trading cryptocurrency? Which one is your favorite and how does it work? (Screenshots required where necessary)

Highlight the advantages and disadvantages of technical analysis. What's your advice to anyone about it?

Contest Guidelines

• Post your articles in the Steemit Crypto Academy community. The participation time is between Monday, August 29th, 2022, 00:00 UTC to Sunday, September 4th, 2022, 23:59 UTC.

• The article should be at a minimum of 500 words. You can write more. Your article must be free of any form of plagiarism.

• Your article title should be Steemit Crypto Academy Contest / S4W1 - Crypto Market Technical Analysis by @username. Add the tag #cryptoacademy-s4w1 and other relevant tags.

• Participants must be appropriately following #club5050 or #club75 or #club100.

• The community moderators would be leaving quality assessments on your articles and probable upvotes.

• In addition, your article must get at least 10 upvotes and 5 valid comments to count as valid in the contest, so ensure you interact with other users' entries. Do not be involved in vote-buying.

Rewards

• SC01 would be checking on the entire 7 participating communities and upvoting outstanding content. Upvote is not guaranteed for all articles. Kindly take note.

• At the end of the week, we would nominate top 3 users that had performed well in the contest and they would be eligible for votes from SC01/SC02.

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Important Notice: The nomination of the top 3 users in our community is not based on good grades alone, it includes their general engagements (quality and quantity of their interactions with other users' articles) to measure the overall performance. Also note that generally, you can only make one post per day in the Steemit Engagement Challenge.

Conclusion

One of the ways to make wise investments is by analyzing the market of the asset in question. Technical analysis is one of the ways to measure the performance of a crypto market over time to see if it's worth investing in them or not and we hope you'd have something to share with us on this. Good luck.