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  1. If you dream to be a good cryptocurrency trader, you need some most essential technical skills to analyze the market situations based on historical data and trading volumes on different trading platforms. If you are a beginner in cryptocurrency trading, do not worry, these articles attempt to demonstrate essential techniques to perform technical analysis. Technical Analysis It is a process to study cryptocurrency market conditions based on historical data and trading volumes by applying different analytical tools. Technical Analysis is a practical approach to help traders to make further trading strategies because it is responsible to change market psychology. It does make the sense because the majority of traders follow the previous trends and chart patterns to make further moves. Key terms to understand 1. Trends and trend lines Bullish Trend: It is also known as an uptrend. In a bullish trend, the price of cryptocurrency is going up. Sideways trend: In this sideways trend, the price of assets neither falls nor increases. It just follows a horizontal path. Bearish Trend: It is also known as a downtrend. In a bearish trend, the price of cryptocurrency is going down. Trend Line It is an abounding line to show price movements from low to high. Have a look at the figure. 2. Support and resistance It is extremely important to understand these two terms:- Support: It is a lower level at which the bearish trend is expected to be paused and the price rebounds to that mark. Resistance: It is the highest level at which a bullish trend is expected to be paused and price reverts to that mark. 3. Moving Averages Traders analyze the market momentum by locating the moving average. It helps to identify support and resistance levels for some specific time frame. How to read Candle Sticks charts? Every candlestick in a trading chart consists of opening and closing prices. Bullish vs Bearish Bullish Market: In this type of market, buyers compete with each other to grab orders by setting the higher price mark. You can see bullish candles going up. Bearish Market: In this type of market, sellers compete with each other to grab orders by setting the lower price mark. You can see bearish candles going down. Volatility Check Generally, cryptocurrency markets are volatile in nature. Have a look at following diagram. Overbought and Oversold Overbought:-It is the state of the market when cryptocurrency is massively bought and it will be the best time for a trader to sell his asset. Oversold:-In this state of the market, sellers sell their assets at the cheapest rate and it will be the perfect time for a buyer to purchase cryptocurrency at the cheapest rate. Trading volume and price connection Keep it in your mind, the bigger the trading volume, the better will be price trend for cryptocurrency. Have a look at the following chart. Conclusion:- In essence, Technical Analysis is done according to already available data. Sometimes, it may fail to predict market momentum correctly and in that condition, beginners could lose important opportunities. So it is better to perform according to situations. Thank You😊!
  2. Whited35

    Core DeFi Concepts

    In the case of traditional financial systems, they are centrally regulated as central banks control the supply of money and financial institutions actively monitor customers' financial activities. Human beings by nature, always seek freedom, and hence cryptocurrency and Decentralized Finance(DeFi) systems were invented to give financial freedom to everyone. Let's imagine, you should not have to open a bank account and you have full freedom to control your financial activities like savings amounts, tradings, loans, insurance, and many more. Your financial activities will be accessible worldwide just by using a smartphone/PC with an internet connection. Yes, these all things are now made possible with a modern DeFi system. DeFi platforms are majorly based on the Ethereum blockchain network. Some of them also belong to other public blockchain networks but in this article, I am going to talk about Ethereum blockchain-based DeFi system. Before diving into a definitive guide to DeFi, you need to know some most important DeFi applications built on the Ethereum blockchain network which are responsible for operating services without middlemen on DeFi platforms and DEXes. Smart Contract:-It is a self-executing contract in which codes are stored in blockchain for validation. It does not need middlemen as cryptography enforces it to perform the tasks. DApp:-It is an open-source application build on the Ethereum blockchain network that runs in a distributed computing system(p2p network). What is DeFi? It is an open financial system and fastest-growing sectors based on a blockchain network with key characteristics like permissionless, non-custodial, and transparent. It has no middlemen or central authority so every activity is managed by decentralized applications like smart contracts and DApp. There is no single inventor of DeFi however the first major DeFi platform MakerDAO was created on the Ethereum blockchain network and Ethereum was invented by Vitalik Buterin. Once DeFi platforms are created, they are controlled by community members all around the world as information and data will be equally distributed to all participating nodes(a cluster of a computer) so there will be no single entity or person however core developers can be rolled out to fix the bugs on DApp that is another matter for discussions. According to current data, the total market cap of DeFi is $15 billion. What are the things which inspire users to trust DeFi ? I'd like to write them pointwise so that you can easily get the crux of the matter. Cryptography in a blockchain network enforces smart contracts and DApp of DeFi to perform tasks based on the instruction provided and validated by a cluster of computers from community members all around the world so no human intervention is required. It is open-source and code is transparent. Everyone has the opportunity to detect bugs on the smart contract. Additionally, all transaction records are public to all participating nodes. It is permissionless that means all users have equal opportunity to access DeFi services from all around the world. Smart contracts handle everything so you need not trust anyone. Comparison between DeFi and CeFi(Centralized Finance) How does DeFi system work? Source:-rsk.co DeFi risks and challenges DeFi sector is still in the experimental phase but more innovations are still going on. Here are some most notable risks and challenges for DeFi If a malicious user detects the bugs in smart contracts, he can easily drain out a huge amount from DeFi platform. Recent bZx DeFi platforms hack indicates the growing pain in DeFi space. If bugs are seen in DApp, fixing the issues is complicated as all users should update the application. Criminals can misuse DeFi platforms to circulate the black money Conclusion:-Some downsides and risks are involved in DeFi but developers are working hard to make the safest architecture for DApps. In the future, I believe DeFi will be at the next level. P.S. Graphics and contents from this article can't be misused without prior permission from Cryptotalk forum and author. Thank You !
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