Steemit Crypto Academy Season 2 Week 6 Homework Task By @fadil1 : Technical Reverse Strategy

Good day everyone,

I am very delighted to be part of this wonderful lecture and on the topic on Technical Reverse Strategy and Coingecko. I will like to thank our noble professor @stream4u for that wonderful lecture.I really enjoyed and learnt a lot so am kindly here to present to you my work.

TECHNICAL DETAILS ON REVERSE STRATEGY

As we all know the term reverse strategy explains itself to you explains itself that generally to reverse means to go back or bring something which was currently in front backwards and strategy is also a term use in analyzing something technically it it also makes an investor to know what cryptocurrency is in terms of its ultimate power. And also this strategy we are talking about helps every investor to know how and when to invest in cryptocurrency so therefore at the end you don’t get loss. And for a cryptocurrency to likely stay keep in the trend in which they move in the crypto market. For an investor to end loss in which he or she makes, a reverse trend is been involved. It is mostly risky to put in a strategy in a certain circumstance which you will wait for a day, when this is done is either the crypto asset kept in will drop or will increase.

Let’s now move on to how it works

HOW REVERSE STRATEGY WORKS

Any time crypto market is in a long bearish or bullish trend, Positions are mostly gained by investors anytime trading is made whenever reverse strategy starts to go on well.To also get this well you must take into notice of some key points and price points and below are some of them:

1.High Point

2.Low Point

3.Close Point

4.Opening Price

I will like to give a brief explanation on the last point which is opening price and this is simply the beginning point of the reverse strategy which Dora’s not differ a lot from the closing price that was done earlier. For opening and closing points to take place it must involve that strategy we are talking about and for an investor to get a goood position to buy, the two prices which is the opening and the earlier closing price must be near to one another.When that happens a good position is been purchased by the investor.

Also, trading processes are been canceled depending on how high or low it becomes. When things like this sort happen the amount of one of the crypto asset reaches the previous high point.For this case the investor needs to be patient and take his or her time till it reaches the previous high level then you now know it is a good position for an investor to leave when trading.

Below is a screenshot of the reverse strategy of ETH/USD

COINGECKO

Coingecko is simply a website or a platform that gives one the basic idea of cryptocurrencies and its market as well. So therefore it gives the trader some knowledge about technical analysis when it comes to crypto market.In crypto market to this Coingecko helps in tracking all coins so it helps investors to know how coin goes at the moment.It was founded in the year 2014 by some two great software engineers named Bobby Ong and TM Lee. This Coingecko we talking about also gives an investor as to how price moves so that he or she will know how much or how many to buy that cryptocurrency.Cryptocurrencies are also kept in order depending on how it is traded in the market in Coingecko. Cryptocurrencies also work well when Coingecko is involved.

Below is a link that will take you to the Coingecko platform.
https://www.coingecko.com/en

Above is a screenshot that shows the main view of a Coingecko platform where you can see the total number of coins involved, volume of the cryptocurrency and how it is traded in the market.

HOW COINGECKO CAN BE HELPFUL IN THE CRYPTO MARKET

Coingecko is a type of platform which I can say it’s very important because it helps one to know all the information of cryptocurrency you can think of in the crypto market. With this it will help the investor to know the type of coin he or she thinks is good then invest in it and the number of coins to buy. Because it will let you know how it performs currently in the crypto market.

Also, it helps the investor to track and know how his or her coin is going through so that the investor will know whether he is making profit or loss.This is because It gib means complete information of all cryptocurrencies.

Prices of cryptocurrencies are always kept in order in coingecko so when an investor get in touch with this website it will make you know as to whether there is an increase or decrease in price so that the investor will know when to buy or sell cryptocurrency.

Explore Coingecko Features With Information

I will be giving a clear view of some features of coingecko by the help of some screenshots since the feature on this platform are too many.Below are the features :

CATEGORIES

In coingecko we have this feature which is known as categories. It makes the investor to know the type of cryptocurrency to trade on in the market. Also when you click on the categories feature a menu will appear which shows feature again such as Exchange based tokens, Stablecoins, Centralized Exchange Token and many more.

Below are some clear screenshots of categories.

RECENTLY ADDED COINS

This feature in coingecko helps an investor to know the type of cryptocurrencies that where recently added to the website. It also shows the volume of the coin and some other informations.

Below are some clear screenshots of recently added coins

EXCHANGES

This feature in coingecko helps one to research more on this platform because the investor is given that chance to decide on the service you like.If you click on exchanges, a pop up menu will appear which includes Spot, DEX and Derivatives.
Which you can explore in any of them.

Below are some clear screenshots of exchanges

PORTFOLIO

This feature we see here helps the investor to know the correct method in which tracking process is been made so that you are now able you track your cryptocurrency you will now know the right coin to buy.It has a portion which shows profit and loss and a portion which shows the price value.

Below are some clear screenshots of portfolio

EXPLORE ALL COINS

In this feature it makes the user to get in touch with all cryptocurrencies on the platform.And they are also kept in order depending on the volume of coins and how much it is traded in the crypto market.

Below are some clear screenshots of explore all coins

DEVELOPER

In this feature the platform gives you a clue on how developers contribute when trying to make amendment on the platform because when that is done it will make the platform a better one.

Below are some clear screenshots of developer

CURRENCY

This feature on this platform helps the investor to know every update in change of prices of any coin.This makes investors not to transfer prices anywhere to know the actual price of a coin and I can say that any currency you can think of which is in the market is present on the platform.

Below is a clear screenshot of currency

WEEKLY PRICE FORECAST FOR CRYPTO COIN ETH/USD

I will like to use those crypto coin as my pair as far as this week price forecasting is concern.This is because from my view of study I see this pair of crypto coins to be the best and more to the later the days the price of ethereum in the crypto market went very high and its currently low because all cryptocurrencies have gone down.So I know very soon it will rise again.

source

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ETHEREUM

Ethereum is one of the greatest cryptocurrency that was established in the year 2013 by a software engineer named Buterin Vitalik and its system is a decentralized one. DApps and smart contracts works and functions in a good state in ethereum. For it been a decentralized one investor over here have the freedom to do what they want. They buy and sell anytime anywhere because there is no management controlling investors.As we all know in the crypto market it is ranked as the second biggest crypto currency. As at the time I was doing my work the price of ethereum was $2,321.

WHY I CHOOSE ETHEREUM

I personally choose ethereum because is one of the active coins currently. Even you check on any crypto market you will get to know that it lies on the position on any platform this shows how good it is. Ethereum within this month has risen over all the coins and am sure if you invest in this coin you will gain a lot and the most interesting part is that when transferring an ethereum from one person to another the charges removed are very low.

TECHNICAL ANALYSIS ON ETHEREUM

For me to analyze this technically well I will like to go through my ethereum graph to check on how they increase and decrease within a week that will help me predict the price in a week time.

Below is a clear screenshot of me analyzing it technically.

MY PREDICTION IN A WEEK TIME

For me going through my graph I will now be able to do my one week prediction because as at last week the price of ethereum was around $3,700 and in this current week we are it’s around 2,300 it means we had a serious fall.

From my prediction after analyzing everything technically I will say the price of ethereum will rise from its current price which is 2,300 to a price of $3,500 in a week time since all the coins this week are been affected.

CONCLUSION

In brief, I will like to say I really enjoyed the lecture a lot and I can say this lecture was one of the great lectures for this week. I also learnt a lot especially on ‘Technical Reverse Strategy’

Thank you very much professor @stream4u for that wonderful lecture and May the good Lord be with us and bless us all.