[REPOST] WAVES/USDT Short Future Trade - Trading Competition - Crypto Academy / S6T4 - Homework post for pelon53.

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Hello everybody.

Welcome to this post. I hope that all of you will be fine and good and enjoying your best health with the grace and blessings of Almighty God. Today, I am here to present the Trading Post for the Investors-Team in the last week of the Season 6 of Steemit Crypto Academy Trading Competition. It is a golden opportunity for all of us to utilize the knowledge that we have gained from the academy so far. So, let's start the task without any waste of time.

This is my 2nd trade this week and I have selected the WAVES/USDT pair for this trade. Let's discuss the reasons behind the selection of the pair and trade in detail.

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Coin Pair and Exchange Name
Today, I am going to execute a Short Future trade in the WAVES/USDT pair. This pair is one of the most popular crypto pairs of the time that is traded by many skillful traders. I will execute a Short trade in the market of WAVES/USDT pair after doing a proper technical analysis. I will try my best to execute a profitable trade in the market.

I have selected this pair due to some reasons. Actually, the WAVES coin is one of the strongest coins of the time in the cryptocurrency world. The market capitalization and the uses of this token are so impressive that it attracts a lot of traders towards itself. The WAVES coin is also present in the top 35 crypto coins of the time and we wish to see it in the top 10 coins soon. The strength of this token is great due to its wide use cases in the Waves blockchain platform. Moreover, I have also executed many trades in this pair and the overall result is impressively positive so far.

I have selected the Binance exchange because I personally like it very much. It is quite simple to use and also it is a very safe and secure exchange for trading cryptocurrencies. I have also used a number of other exchanges like Poloniex, Huobi Global, etc. But I liked the features of the Binance exchange very much and I am familiar with most of the features of the Binance exchange.

Binance Exchange is the most popular centralized exchange of the time. Its popularity is due to its number of unique and useful features. It allows the users to trade almost all of the good crypto pairs. The P2P trading and the Margin trading of this exchange are also impressive. It allows the users to set the leverage of the futures trades up to 125X which is really impressive. There are also many other unique features of this exchange that made this exchange listed on top in my book of trading.

2
[REPOST] WAVES/USDT Short Future Trade - Trading Competition - Crypto Academy / S6T4 - Homework post for pelon53.
steemdoctor1 (66)Beginner[2,4,5,6,7,8,9]in SteemitCryptoAcademy • yesterday
Screenshot_20220406_070856.jpg

Link To Previous Post

Hello everybody.

image.png
Image Created By Canva
This is my 2nd trade this week and I have selected the WAVES/USDT pair for this trade. Let's discuss the reasons behind the selection of the pair and trade in detail.

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Fundamental Analysis of WAVES
Introduction and History:
The WAVES coin is actually the native currency of the Waves platform which is an open-source platform that allows the users to develop and enjoy the Decentralized Application (DApps) and many other impressive features. The WAVES token is actually used for the execution of the transactions in the Waves platform. The WAVES token can also be earned as the block rewards in the WAVES platform.

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Image Taken From
The Waves platform is actually an open-source blockchain platform that is performing a number of useful functions in blockchain technology. It allows its users to create new digital tokens on the Waves platform. Users can also access different Decentralized Apps (DApps) and smart contracts on the Waves platform. Users can create their own tokens and also manage the supply of the tokens according to their will. A new feature is recently added to this platform that the tokens that are created on the Waves platform are in collaboration with the ERC-20 tokens.

The Waves platform is secured by the Proof-of-Stake mechanism. Users can stake the WAVES tokens and act as a node for the validation of the transactions that are taking place in the blockchain. Another amazing advantage of this platform is that the transaction fees can be paid in the form of any other token, besides the WAVES token, present in the Waves platform. This is really a very impressive feature of the WAVES platform.

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Image Taken From
The Waves platform was developed in June 2016 by one of the most popular personalities in the crypto space, I mean Sir. Alexander Ivanov, also known as Sasha Ivanov. He was also involved in a number of other successful projects like Coinomat Exchange, Cooleindex, a stable coin CoinoUSD, etc. Thanks to him fr creating such an amazing platform where the users can explore different DApps and also create their own crypto tokens.

The use cases of the WAVES token in the Waves platform are many. The WAVES token can be used as a transaction fee for the validation of transactions in the Waves platform. It is also utilized for the issuance of new tokens on the platform. Recently, the Waves DEX (Decentralized Exchange) has also been developed where the users can exchange and trade a number of other crypto tokens with the WAVES pair as well. Moreover, the nodes' validators also stake WAVES tokens for the validation of transactions. So, these use cases of the WAVES token make it a very strong coin of the time.

CoinMarketCap:
On exploring the CoinMarketCap of the WAVES coin, I have got a number of useful information about the WAVES Token. So, have a look at the following screenshot in this regard.
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The information that is obtained from the above screenshot can also be expressed in the form of tabular data that is given below.

Coin Name Waves
Nick Name WAVES
Rank 31
Current Price $51.87
Market Cap $5,595,342,114
Fully Diluted Market Cap $5,681,768,189
Market Volume. $3,268,703,503
Volume / Market Cap 0.5924
Circulating Supply 107,870,380.00 WAVES
Total Supply 107,870,380

Historical Price Data:
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[REPOST] WAVES/USDT Short Future Trade - Trading Competition - Crypto Academy / S6T4 - Homework post for pelon53.
steemdoctor1 (66)Beginner[2,4,5,6,7,8,9]in SteemitCryptoAcademy • yesterday
Screenshot_20220406_070856.jpg

Link To Previous Post

Hello everybody.

image.png
Image Created By Canva
This is my 2nd trade this week and I have selected the WAVES/USDT pair for this trade. Let's discuss the reasons behind the selection of the pair and trade in detail.

line.png

image.png

CoinMarketCap:
On exploring the CoinMarketCap of the WAVES coin, I have got a number of useful information about the WAVES Token. So, have a look at the following screenshot in this regard.

image.png
WAVES CoinMarketCap
The information that is obtained from the above screenshot can also be expressed in the form of tabular data that is given beloW

Historical Prices of WAVES
From the above screenshot, we can observe that the All-time High price of WAVES is $59.13 (30, March 2022, Today) and the All-Time Low price of WAVES is $0.1227 (02, August 2016).

Available Markets:
As I have discussed that the WAVES coin is one of the most popular coins at this time. So, it is available on almost all popular and successful exchanges and swap platforms. Some of them are listed below.

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My Plans and Recommendations
In the above section, I have explained the execution of the Short trade in the WAVES/USDT pair. First, I did a proper technical analysis of the market according to my knowledge. The signal given by my analysis was downward so I decided to take advantage of the downward movement in the market. So, I executed a Short trade.

This is a sharp signal obtained by the technical analysis at a lower timeframe. So, I did not keep my position open in the market for a long time and closed my position for scalping when the price moved a bit in my predicted direction. Moreover, the market situation was not supporting the long-term trade so I did a short-term, or scalp trade.

Recommendations for Others:
As the question of the recommendations for others falls, I will recommend everyone to open a Short trade at the time of making this post. I will invite all the traders to open a Short trade for a while and close their position when they will secure a reasonable profit, being a scalp trader.

According to my opinion, this condition of the WAVES coin is not good for a long-term investment as the WAVES token had already made its All-Time High recently (About 10 hours ago). So, I will never recommend anyone to take risks and execute a long-term trade. Moreover<, it is advisable to enter the market with proper technical analysis and risk management.

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Additional Information About WAVES
We can also find the social media accounts of WAVES. We can get the latest and most important information and news from these social media accounts.

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In this post, I have made a Short Future Trade by doing a technical analysis of the WAVES/USDT chart. I used three different technical analysis tools that are Relative Strength Index (RSI), Moving Averages (MA), and Parabolic SAR. By analyzing the market, I opened a Short Future Trade and set the Take Profit and Stop Loss points at the ratio of 1:1. After some time, I secured a profit of $0.54 so I closed my position.

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