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Hello everyone,
I have gone through professor @stream4u's, lecture and I found it’s an interesting crypto topic. And I love to participate in this contest.
Reverse Strategy
Reverse strategy is a process to observe the previous market bearish or bullish pattern, do analysis and make maximum profit on that. By using bullish and bearish previous data analyze the entry and exit point.
Normally traders use different indicators to predict the price of cryptocurrency but due to long bullish and bearish movements. Indicators may get wrong and loss because of high volume.
Let’s suppose the market is doing a downwards bearish zone. If traders buy $100 and they think to get profit on $100 but if bearish goes 10% down more. So, in that case, they lose $10.
How to analyze longer bearish and bullish movements
First, traders should avoid trading when the market is going in a long bullish and bearish zone. Traders should wait for the day and make a note of this current market data and prepare for the next day's trading strategy. Last 15-20 minutes from the cycle of 24 hours of the day. Traders should start the prediction of the market.
How to Prepare for the Reverse Strategy?
Let’s suppose the market is in long bearish movements and it’s going down 10% now it’s time to bounce back before 15-20 minutes because it’s going to complete the cycle. Now smart trader needs to note the closing price, previous day low, previous day high point, opening price, predicted entry and exit point.
If the opening price is closer to the previous day's price, so it’s the right time to buy the reason is longer bearish movements.
Now, wait for the bullish movement to the previous day's high price you trader will get profit in this case.
Now we understood even the trader has set 20 % bullish even in the worse case he gets profit. Otherwise, wait for the maximum high-end point to touch.
Reverse Strategy on DOGE/USDT Pair
So, using reverse strategy by bearish and bullish movement charts traders can get more profit even on intraday trading unless good technical analysis.
Reverse Strategy
Review CoinGecko
CoinGecko is a platform that gives us a piece of meaningful information that helps the trader to achieve their profit goal and awareness of cryptocurrency. By great service and product.
What is CoinGecko?
CoinGecko.com is a platform where we get all crypto-related correct information like the current market volume of any crypto coin. CoinGecko was founded in 2014 by TM Lee and Bobby Ong with the mission to regularize the retrieved crypto data and empower users with actionable insights. Initially, CoinGecko launched 360 degrees about the crypto market and time to time introduced new features recently they have launched Defi and Yield farming pages. And they are working many other functions to make trader easier to get the knowledge and utilize them.
The moment I took this screenshot from Coingecko.com it was a total of 7362 coins and 476 exchanges and with Market Cap: $2,107,879,137,154 24h Vol: $287,044,617,383
How COINGECKO Can Be Helpful for you in a Crypto Market?
There are the benefits of Coingecko in the crypto market.
Rank: In the cryptocurrency rank is an important factor to make deciding on trading or investment with this we can check the current rank of your cryptocurrency.
Historical data and charts: Bye observing historical data trader can take get the correct information of asset and market volume.
Performance: Performance in on another aspect for investment and trading. By checking the performance sheet user can easily analyze the future of that cryptocurrency.
Explore COINGECKO features with information
Categories:
When going to the home page age of CoinGecko.com site we can see the categories option in the tab by clicking get landed to Top Cryptocurrency Categories page.
In the below screenshot we see the top 10 cryptos listed by rank are Exchange-based Tokens, Decentralized Finance (DeFi), Centralized Exchange Token (CEX), Binance Smart Chain Ecosystem, Stablecoins, Polkadot Ecosystem, Governance, Polygon Ecosystem, Yield Farming, and Decentralized Exchange Token (DEX).
Top selected Crypto categories
Exchange-based Tokens is the topmost with market cap $148,922,680,186 with 24 hours volume $14,675,580,498.
Exchanges
This is another amazing feature of Coingecko that make this platform more special because trader should know where they can trade and what are the pairs available and of course exchange platform basic information.
In this screenshot, we can see the top market exchanges list and their score. Like Binance is on top with a trust score of 10. The Exchanges we can see there are three types available:
- Spot
- DEX Decentralized Exchange (DEX)
- Derivatives
Inside the resource section, we can check all the ongoing project yield farming pool, compare coin, for example, I have just selected DOGE, USDT, and BUSD, their prices are INR35.20, INR73.70, and 73.36 respectively where the market cap are INR4,558,652,737,689, INR4,300,719,975,956, INR587,404,733,388.
Yield farming pool
Comparison
Developer:
Inside the recently added section, we can see a developer view that shows newly added coins and listed projects by developers and contributors.
Currency Preferences:
Currently, we can read 21 different languages and we can check prices in 61 different currencies too including cryptocurrency and fiat currency.
Weekly Price Forcast For Crypto DOGE/USDT Pair
I have selected DOGE/USDT the reason is formed last few weeks I was doing technical analysis and found I good time invest. Even after Elon must tweet almost every cryptocurrency falls down but compared to another cryptocurrency DOGE is less.
Basic information about DOGE
According to Coincheck latest information, the Doge price is $0.480392 with a 24h of $5,867,909,828 volume. DOGE has a circulating supply of 130 Billion DOGE coins and a max supply on Binance which most active market. Dogecoin cryptocurrency popular as DOGE and a Litecoin fork. And its price is less per coin so for smaller trade.
Why DOGE
Doge is the 6th rank on market cap nowadays it’s going well. Mean not much fluctuation like other coin BTC and ETH. And me smaller trading it’s the best option. It’s available quite a good number of pairs on Binance trading.
Technical and Fundament analysis
My Technical analysis on DOGE/USDT
As per my technical analysis, Dogecoin had promising future and upcoming days.
• Next one week lowest price: $0.41500
• The next one week high price: $0.52699 USDT.
Conclusion
In conclusion, the reverse strategy is very effective and powerful to analyze the market and take decisions wisely based on the last 24 hours cycle the bullish and bearish movement apart from that CoinGecko is the best digital tool for doing technical, fundamental analysis. And to see cryptocurrency's current price and market cap. I would like to thank @stream4u for this great crypto lecture.
Cc:
@stream4u
Thanks,
@sanjeev.kumar
Hi @sanjeev.kumar
Thank you for joining The Steemit Crypto Academy Courses and participated in the Homework Task.
Your Homework Task verification has been done by @Stream4u, hope you have enjoyed and learned something new.
Thank You.
@stream4u
Crypto Professors : Steemit Crypto Academy
#affable
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Thank you professor for your feedback. I'll keep in mind.
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Cc:
@steemcurator02
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