CRYPTO ACADEMY SEASON 2 WEEK6 ASSIGMENT POST FOR @stream4u BY @jimah1k

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Hello guys

it’s another wonderful week of this seasons crypto academy last week we talked about crypto margin and leverage tokens trading well todays lessons we talked about Reverse Strategy and also COINGECKO a very intriguing topic I must say I enjoyed this weeks lecture after reading the lecture notes to my satisfaction and doing research I hereby present my assignment post.

TECHNICAL DETAILS ON REVERSE STRATEGY

what is reverse strategy well its self-explanatory to reverse means to pull back so this means the pull back strategy this strategy is used in the technical analysis of cryptocurrencies this helps the user find out an extreme bullish or bearish of a crypto market. Now this strategy shows us or helps us to know when to invest in cryptocurrencies so that we can obtain profits. In the case that a certain cryptocurrency value is moving in a trend which is a longer bearish in the market. A reverse trend is required to cut the loss in investment made. It risky to take the sell position when the currency is in bullish and also its risky to trade when the value the cryptocurrency is in bearish. It is advisable an investor to wait for the value of the cryptocurrency to complete a 1day circle before you can be successful in reverse trading.

HOW REVERSE STRATEGY WORKS

In the above explanation of reverse strategy, I made mention that it is advisable to observe the assets for 24hrs before we can have a successful reverse trading. When a crypto market goes bullish it is a sign that the buy position would be opened. Now with this investor would hastily buy but the price of this asset can still go more bearish. So, when trading that’s why its important to observe the asset before any actions are taken. Lets look at a scenario that the asset is in a strong bearish with a price change of 40% within 24hrs investors can make profits by closing their positions now this makes the prices to reverse or pull back this brings to the market some traders who try to reverse the price of the asset in opposite direction.

When reverse trading traders must consider the following key terms namely;
• Open price
• High point
• Low point
• Close point

Opening price is the initial price of the asset of the day, everyday a new open price of an asset is recorded
High point a high point simply refers to the highest amount an asset has reached with a day or other words the maximum value recorded everyday different high points are recorded
Low point is the vice versa of high point low point is the lowest value recorded by an asset in within a day
Close point is the price of the asset at the end of the day. The price of any asset at the close of the point is referred to us close point.

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THE SCREENSHOT ABOVE SHOWS THE REVERSE STRATEGY ON ETHEREUM.

REVIEW OF COINGECKO

Coingecko is a platform that was developed by TM Lee and his colleague in the year April 2014 this platform contains all information of all the cryptocurrencies in the market arranged according to dominance level, coingecko provides the user with detailed information, analysis of any cryptocurrency like say BTC coingecko will provide you with the market dominance, volume, current value and many more it also shows how each cryptocurrency is fearing in the market with this users can make decisions on which coin to invest in. basically coingecko is the Wikipedia of crypto currencies. To access coingecko CLICK HERE

THIS IS HOW THE COINGECKO LOOKS LIKE
COINGECKO

HOW COINGECKO CAN BE HELPFUL IN CRYPTO MARKET

First of all we know that coingecko provides detailed analysis of cryptocurrencies and also provides detailed information on each asset this helps investors to be able to monitor and observe their asset based on the analysis of coingecko you can know when it’s the right time to trade your asset or which cryptocurrency to invest in.
Secondly, coingecko keeps historical chart and performance of all the coin for example since BTC was introduced you can still find the trends in coingecko so with the help of this feature you are able to do your own prediction of your cryptocurrency and also observe the trends of your asset.

Again, coingecko is simplified all the coins are ranked according to the market capitalization so when you open coingecko everything is sorted and simplified this helps let the user know the rank of his cryptocurrency in the world.

COINGECKO FEATURES

Coingecko has a lot of fascinating offers I would be explaining a some of them
EXCHANGES
Well this one of the most popular features of coingecko this feature helps the trader to choose from a list of options the options are three namely Spot, DEX, Derivatives. The DEX option provides the user with a list of decentralized exchanges, whiles the spot option provides the user with spot services. The derivatives give detailed information on exchanges and provides contract trading.

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YOU CAN SEE CLEARLY UNDER THE EXCHANGES WE HAVE SPOT, DERIVATIVES, DEX

CATEGORIES

There are a lot of currencies in coingecko so his feature allows the user to arrange the asset into either exchange-based token, centralized exchange, decentralized exchange, binanace, smart chain ecosystem now these coins are further ranked according to the market capitalization.

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YOU CAN SEE THE ARRANGEMNET OF THE COINS FROM EXCHANGED BASED TOKENS TO GORVERNANCE

PORTFOLIO

This feature of coingecko is very important because with this feature user can be able to track and monitor his asset daily the prices of the cryptocurrencies are constantly updated.

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IN MY PORTFOLIO I HAVE ONLY BTC AND ETH

COINGECKO NEWS LETTER

With this feature you will be provided a form to fill in your name and email address where you will receive updates from the platform. this updates include general updates in the cryptocurrencies with this news letter you will always be updated

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FILL IN YOUR NAME AND EMAIL ADDRESS

COINGECKO BOOKS

This another wonderful feature where the user will be educated on on either decentralized finance or BTC. books contain valuable information is provided to help the users to understand the cryptocurrencies

WEEKLY PRICE FORECAST FOR ETHEREUM

Last week i did a week predictions for ethereum today am going to do another prediction for ethereum before that let me just brief you on what ETH is, Ethereum is a decentralized platform which was founded in 2013 by Vitalik Buterin. ETH enables smart contracts and DApps to be built and function on according to the coin market cap it has the scond largest dominance in the crypto market below is a screenshot of its market statistics

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ETH Price Statistics
Ethereum Price Today
Ethereum Price $2,703.46
Price Change
24h
$-296.77
24h Low / 24h High
$1,952.46 /
$3,007.34
Trading Volume
24h
$92,570,816,088.19
87.37%
Volume / Market Cap 0.2985
Market Dominance 17.89%
Market Rank #2

WHY I CHOOSE TO PREDICT ETH

Now i choose to predict ETH because personally for i invest in ETH and BTC so thats the main reason why i choose to predict it secondly it is the second largest asset in the world most people invest in it so with the help of my prediction it might help traders.

MY PREDICTION

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Looking at the above screenshot on the 18th may a high value of approximately $33k was recorded at high and $32k at low level with volume of 1.278m now with 24hrs the value of ETH hit the same high level as of the 18th but this time fell to $24k at low look at screenshot below just yesterday the new high level of ETH was approximately $26k and $24k at low a very strong fall of the ETH.

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Taking into consideration certain factors my prediction for next week is i expect the price of ETH to rise back up to a high value of $36k and at a low value of $30k i think investors should invest in ETH because i see a rise in the coming weeks

CONCLUSION

I must commend our professor @stream4u because he did a wonderful job and i really enjoyed the lecture thank you very much i hope you continue to deliver every week.

THANK YOU