REPOST: MATIC/USDT Buy - Steemit Crypto Academy - S6T2 - Team Trading Contest Post for Team-Frontline

Hi guys
Welcome to my second post for the week. Just as the custom demands, I will still be with the Team-Frontline trading team lead by professor @abdu.navi03 and @shemul21 for the entire week. This blog is going to contain my record for the successful trade carried out for the week. I will be analysing and buying the pair of MATIC/USDT token I.e the MATIC token. Let's get started.

MATIC token is the native token of the polygon platform. All activities in the polygon ecosystem are been done using the native token MATIC. This token is an ERC-20 token present in the Ethereum blockkchain. The polygon ecosystem hells to solve issues that arises in the Ethereum blockchain. With the help of the polygon in the Ethereum blockchain, Ethereum has become an internet of blockchains having the following futures among others security, vibrant and openness.

The polygon ecosystem uses a combination of both proof of stake architecture and the plasma framework in other to attain a very high level of scalability. About 65,000 transactions is been carried out per second using the polygon ecosystem. The polygon ecosystem also has help to encourage more users into coming into the world of crypto currency by solving issues of scalability that are affecting a lot of blockchain.

In the year 2017, the polygon ecosystem was lunched. This ecosystem was founded by two blockchain developers namely Jaynti Kanani and Sandeep Nailwal and one business consultant that goes with the name Anurag Arjunh. In 2019 the ecosystem was moved to it's network. The image below shows the photos of the founders of the polygon (MATIC) token.

The Polygon (MATIC) token can be traded in any of the major exchanges such as Binance, Coinbase Exchange, KuCoin, FTX, Bybit, Bitfinex, Huobi Global etc. From coinmarketcap, information about the MATIC token as at the time of carrying this task are as follows.

From the fundamental point of view, I am optimistic about the MATIC token because of the way it's platform I.e the polygon ecosystem operates. As I have stated above, the platform is no doubt a future for all blockchain. All other block chain seek to be more scalable and then perform more transaction per second which has been achieved by the polygon blockchain. The use of the plasma framework and the proof of stake architecture has made the platform more user friendly and that has given rise to more users tropping into the market to hold the MATIC token.

From the technical point of view, as you can see in the chart above, the asset has been bullish for quite a period of time. This means many investors are holding on to the MATIC token. In my opinion, this is the right time to hold the token as it will also have a significant increase in the future. The team who founded the token have perfect plan for the token and that is why I have no doubt about the token.

Here in this section, I will be carrying out a technical analysing on the token using the cross over method of two Moving Average (MA) lines that has different lengths and a confirmation will be done using the RSI indicator. In this case, I will be making use of the MA with fast movement and the MA with slow movement I.e the length of the MA lines will be 5 for the slow movement and 20 for the fast movement. As we may have known, when the MA lines are below the price action, it is a sign that the trend is bullish and when the MA lines are above price action, it is a sign that the trend is bearish.

In the same way, when the MA with slower moving average in our case 5 crosses and is seen above the faster moving average in our case 20 then we conclude that the asset is going to be bullish hence we prepare and then look for a proper position to place our buy entry. In the same way, when the MA with faster moving average in our case 20 crosses and is seen above the slower moving average in our case 5 then we conclude that the asset is going to be bearish hence we prepare and then look for a proper position to place our sell entry. So therefore that is the logic behind the crossing method of MA lines. Similarly, when the RSI line is seen above 70, it signifies overbought and there are possibility of trend reversing to the opposite direction whereas if it is seen below 30, it signifies oversold and there are possibility of trend reversing to the opposite direction.

In other to clearly see the trend and avoid any form of noise, I decided to use the Heikin Ashi chart instead of the traditional candlestick chart. Furthermore, I decided to adjust my timeframe to about 15 minutes time frame since I intend performing a scalp or short term trade. From the screenshot below, the MA lines are seen below the price chart as I have explained earlier and the crossing of the slower MA above the faster MA is seen also. The RSI as we can see is moving in an upward direction. Hence an opportunity to enter the market.

All confirmation of the trend movement has been carried out using the MA lines and the RSI indicator as we have seen above. The price is also moving in an upward direction and for that reason I looked out for proper entry position and then I also spotted my support and resistance point and then I entered the trade. The screenshot below shows my point of entry into the trade. All risk management strategies where taken into consideration to reduce the amount of loss in case the trade goes in a wrong direction.

My analysis for this trade was carried out on the tradingview.com platform but the execution of this trade was carried out using my binance exchange account. The trade is a future trade and for that reason, I made use of the isolated margin mode and the 1x adjusted leverage pattern so that I can avoid liqudating my entire account if the trade does not go as I have predicted it. Other risk management strategies such as the stop loss and take profit level was also set to protect the account.

After about some hours, the trade executed. And the good news is that it move up as I predicted and it hit the take profit level which I set and executed. I made a profit in the trade. See screenshot of the trade after execution below. The stop loss expired whereas the take profit was filled.

I intend to hold the MATIC token for a very long time. This is because the token has a possibility of future rise. The ecosystem has solved a lot of issues associated with blockchain and for that reason, I believe a lot more traders will key into holding the token since the platform has proven to be very scalable enough thereby solving the problems associated with other blockchain. From this we can see clearly that the project is one which can to stand the test of time. Every traders wants a place where his asset will be secured and where he can trade with ease. For that reason, I believe the price of the MATIC token will rise even beyond our expectation in the shortest possible time. So I will hold the token for long until I see this future rise.

Yes I will recommend other traders to invest by means of buying the MATIC token. This token can be used for a lot of things in the polygon ecosystem and aside that, there is a very high probability that the asset in question will be rising soon due to the number of blockchain associating with the polygon ecosystem for it's issues of scalability and others. Traders will pick in more interest since the polygon ecosystem offers a lot that is needed by traders. So I recommend that people should go and get this token and hold now before the price shot up finally.

Risk management is an important factor every trader must take into consideration when trading cryptocurrency most especially in the future market. For that reason, in my trade above, I have taken into account my stop loss and take profit points and more also, to avoid liquidation of my account, I have used the Isolated Margin Mode and the 1x adjusted leverage.

I want to sincerely appreciate the professors who are in charge of the team-frontlines trading team I.e professors @abdu.navi03 and @shemul21 and also my gratitude goes to all the crypto academy professors both new and old for their lectures and share of knowledge. This couldn't have been possible without their share of knowledge. I do hope you will continue correcting me as I begin my journey in real trading.