The Tech Quiz - Season 24

Hello guys,
It's a pleasure on my path to share with you all my entries in this week's contest which is titled "The Tech Quiz - Season 24" which was organized by @malikusman1. It is an interesting contest and I would love to drop my entry ASAP.

Source

Before we go ahead I would like to invite @kuzboy, @ruthjoe, and @bonaventure24 to join this contest in this community today and share their participation as well, I do hope to see and read your entries as well.

What is the Bull market? Please Explain.

The word bull market is a very simple term that means that the market is rising. Whenever the price of assets in the crypto market is going upward, we can say that we are experiencing a bull market.

A good example of a bull market is what we experienced a few days ago in the Steem market where the price of the Steem token moved to about $0.36144 and this movement as you can see started from around $0.216833 and then pushed up.

^{Image from an exchange}

From the screenshot above you will notice that the market moved from a lower level to the highest price recorded after many days. The chart shows our 4H market of the pair of STEEMUSDT.

That pump you see in the chart that hit the highest price within that period is what we call the bull market because the price continued moving upward.

What is the bearish market? Please Explain.

The direct opposite of the bull market is the bearish market. This means that if we define the bull market as the price going upward, then the bearish market can be seen as when the price is going downward.

A good example also is the one we saw recently after the market pumped to some level, then we saw a sharp decline or drop in the price of the asset indicating a bearish market.

^{Image from an exchange}

From the screenshot above, you will notice that the price reached the highest high of $0.366328 and suddenly we saw a decline in the price and this pushed the price downward to $0.216833 which shows a serious drop in the price of the asset.

From the screenshot above you will notice that the market moved from a higher level to the lower price recorded after many days. The chart shows our 4H market of the pair of STEEMUSDT.

That dump you see in the chart that hit the lowest price within that period is what we call the bearish market because the price continued moving downward.

How we can avoid risk and make a profit in both markets?

To avoid risk and make a profit in both markets, you must have an idea of both fundamental and technical analysis because they are the bedrock towards predicting properly the movement of the asset.

So when you are dealing with crypto, you should know when to enter the market long and when to enter short and you must know the rules guiding and directing the movement of the price.

Finally, you must also watch the market at all times to be able to exit the market or change direction anytime the market wants to change. You must also always set your trade people by ensuring you put your stop loss and take profit level but most importantly your stop loss.