Hello everyone, today I present my homework regarding the work done by teacher @ stream4u.
The Reverse Strategy is a strategy established by professor @ stream4u who teaches us graphical parameters in which we can see entry points for operations in the bear or bull market and thus be able to increase our position or generate profits. The principle of this strategy is not to get carried away by the panic of market movements in a short period of time and wait for the course of the day to see the evolution in the price of the currency and in this way take advantage and invest.
The ideal time to apply this strategy is between 15 to 5 minutes before the end of the 24-hour cycle of the graph. Regardless of whether a cryptocurrency is in an upward or downward trend, at the end of the day the price of the asset will fall and at that time many buyers open positions, raising the price for the day's cycle.
The opening price of the previous day should be close to the closing price, if this occurs the objective is the high point of the previous day and if the current price reaches and remains at the previous high price and there the objective changes to the high point of the day before yesterday.
In the following graph I show how we can apply the strategy, we see a strong fall and we quickly observe a rebound, at the moment that this rebound occurs we must create our position as fast as we can and the stop loss must be placed just below the mark. entry position.
In my opinion, the Bullish Reverse Strategy works to increase your position in an asset, in such a way that greater benefits can be obtained when the currency exceeds the sale price
CoinGecko is a cryptocurrency categorization charting platform that catalogs cryptocurrencies by developer action, liquidity, and community.
CoinGecko facilitates a fundamental analysis of the cryptocurrency market. It also tracks the cost of coins, market capitalization and volume, CoinGecko on the other hand records the growth of the community, the development of the project and the main activities or events.
Its main objective is to improve crypto users' understanding of the primary factors that stimulate the market. Being thus one of CoinGecko the largest cryptocurrency data aggregators, working since the beginning of 2014. Currently it tracks 7459 coins and 474 exchanges
The CoinGecko platform helps us above all with research features when analyzing a cryptocurrency, since with this tool we can detail the characteristics of the currency that we are analyzing.
CoinGecko helps us by giving us information about different cryptocurrencies, in this way we can evaluate the performance and it would help us make an investment decision at the right time.
We can see the current price of cryptocurrencies and we can observe the price variations according to day, week, month. It also gives us a ranking that helps us with the fundamental research of the projects.
CoinGecko gives us endless tools and functions with which we can do fundamental analysis.
♦ Upon entering the page, the first thing we will see will be the 100 currencies with the most market capitalization, the total number of listed currencies, the listed exchanges, the total market capitalization, the capital volume in 24 hours, the dominance of BTC and ETHER. on the market and ETH gas updated in real time
♦ We can filter the search for cryptocurrencies depending on its characteristics, its capitalization, price, the change in 24 hours, category, the exchange, the platform and the hashing algorithm
♦ We have a segment where we see the coins that have just been added to the platform.
♦ We have a section for exchanges, this is divided into 3 categories.
♦ We also find the top of the DeFi coins, we will see a graph of their market capitalization, their dominance, among other aspects
♦ We have an NFT section, with a top 100 NFT coins
♦ Among the features that we can get on the platform when analyzing a cryptocurrency we have: Price, Circulating Supply, Max Supply, Market Cap, Rank, Website, Explorers, Wallets, Community, Source Code, we also have a small tool to calculate the price depending on the currency, among others.
♦ We can find the following categories:
Overview: where we will see general information about the cryptocurrency, including the graph, historical maximum price, historical minimum price, among others.
Markets: The exchanges where the currency can be traded
Historical Data: Detailed price history
I believe that this currency has a great future in the business spheres and many renowned companies already use it their platform to improve their services and improve their processes.
What to know about VET?
Presented in 2015 by Blockchain-as-a-Service (BaaS), VeChain is a decentralized business environment that leverages blockchain technology. It has been designed to be used by companies large or small.
VET (VeChain Token) is used for financial transfer on the VeChainThor blockchain and for market price speculation
VET is used in Food Safety, Fight Counterfeiting, Health Records, Carbon Tracking and Supply Chains.
VET is still a cryptocurrency that has a low value and its market capitalization day by day is increasing, little by little I have been investing in it waiting for the moment of its great price increase
I have chosen VET for my technical analysis, here we will see the price behavior.
VET has a historic high of $0.280991,currently priced at $0.104765,it is in downtrend, although in the last hour it has gradually recovered.
It has broken its support line twice and from there the price has fallen more than a %40 in a week, we can also see the formation of two Bullish Reverse on the chart.
The market is currently very volatile I have unpredictable, however, if it generates an uptrend we could by next week the value of VET approach without problems to $0.2 cents, on the other hand, if it does not exceed the support and falls price the value could fall to $0.08
We can determine that the strategy works in bullish or bearish markets, generating good results to increase the position or to generate profits, on the other hand Coingecko is the ideal platform for market research and based on its statistics we can apply more accurate investment strategies. Thanks to professor @stream4u
Thank you for joining The Steemit Crypto Academy Courses and participated in the Homework Task.
thank you very much for taking participate in this class
Grade : 7
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Thanks You teacher☺️
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