Repost [LINK/USDT Buy] - Crypto Academy / S6T4- Team Trading Contest Post for Reminane
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The name and introduction of the project token, which exchanges it can be traded on, project / technical information of the coin/ team background, etc.
I have selected the Link token with Link/USDT pair. Before talking about the LINK token I will discuss about smart contracts. Smart contracts are simply agreements written in a code that are usually ran on a blockchain. The reason pf running these agreements on blockchain is that anything happened in blockchain can not be altered. So when you do financial agreement with someone, in order to change that agreement you have to change millions of computers.
Smart contract can be simple as if I pay you ten dollars today and you have to pay me back one dollar every day for the next ten days they can get more complicated like if I give you 10 dollar of ethereum you will give me 10 dollars of Doge coin where basically the code actually check ,if both people truly have 10 dollar of each token that they want to trade and then automate the trade so if one person doesn't give all 10 dollars or he changed his mind and other person wouldn't be left robbed
Finally financial smart contract can be as complicated as of you give me 10 dollars of USDC and I will give you eight dollar of ethereum. You have to pay six percent interest yearly. Chainlink aims to create a network where data provider which are also called oracles are incentivizes by money to provide truthful and reliable data to a blockchain. Chainlink is ran by oracle so it is really important that to know about oracle,
it is actually a software that act as intermediary helping to do two way data transfer between smart contracts and the real world.Chainlink is a decentralized system in which data is taken from on source system and sent to off source system and similar in opposite case occurs.. It always allows smart contract to access real world information that exists outside of the blockchain in a secure manner. With the help of Chainlink the problem of reliability was also solved, because before this centralized system was used that cause reliability issues.
Chainlink was launched in june 2017, and it is a brainchild of smart contract.com. A company Co-founded by sergey nazarov and steve ellis, although their innovation arrived when the Crypto industry was booming with new projects. Chainlink has continuously delivered on its promise coupled with plans to expand beyond just the ethereum network. Chainlink network act as bridge between the new and booming blockchain industry and traditional administrative structures that drive economies to build more efficient secure and transparent process.
Now we will talk about the native token of Chainlink which LINK token and this token is used to fund the project growth. During Link ICO in September of 2017 the developers stated that there should be maximum supply of 1 billion tokens, at launched when they sold LINK token at price of 11 cents but now it is trading between 17 to 18 dollar. Which represents the 17000 increase from its launched
Market capitalization of LINK token
Information about all the properties of the Link token can be seen from coin market cap site.
Market available
Price in past and in present
Why you are optimistic about this token today, and how long do you u wish it can rise.
The first crypto currency blockchain has exploded popularity decentralization and security are two of the benefits of blockchain Bitcoin and other cryptocurrencies have surged in popularity due to the need for a decentralized money. Chainlink which is the decentralized network of nodes has remove the issues of reliability that might occurs if using only a single centralized source
The other way is that we can see that price of LINk has increased up to 17000 times since its launched so it has great potential to make a great hype in the Crypto market. Chainlink keeps the information safe and immutable. No one can alter the any condition after creating a contract on decentralized system. And the most important thing is that it based on small contracts which always monitor the agreement and coding system is kept secret.
LINK is the only token that allows Chainlink and other blockchain to communicate with each other outside of their respective network. It is predicted that in recent future its price will increase to 36 dollars. Link is a low risk investment with lots of potential rewards
How to analyze the token? (This can technical analysis and trading strategies learned from professor's courses) - This section is very important.
Technical analysis are the most significant part of the trading as well as this article. Technical analysis gives you courage and also indication to enter the market with correct understanding of the market trends. Here I will use different indicator to confirm my entry so let's start.
Moving Average indicator
So first I will use Moving Average indicator to confirm my entry in the market. Moving Average indicator depends upon the closing average price of specific days. This indicator is indicated by single line which always flow above and below the price of the assets.
In order to interpret the trend I will use this line in sach a way of the line cross the price candle and than moves upward from the price than this will be bullish trend in the market. If MA line moves below the price candlestick chart then there will be uptrend in the market.
In the above given screenshot it is clear that market is going upward and MA line is below the price pattern so I will go for buy long in this case.
Triple Exponential Moving Average indicator
Now as I have to do trade for short period of time so for this case TEMA indicator is best because it always gives importance to recent fluctuations in the price in crypto market. So here I will use TEMA indicator to understand the market trends.
TEMA indicator is combination of three kinds of average indicator that are represented by single line when this line is just below the price pattern than market will follow the uptrend condition and we will see the bullish trend in the market and when TEMA line is above the price action pattern than market will follow downtrend and we will see bearish trend here.
Here from this screenshot we can execute that market is moving upward in scene of price and TEMA line is below the price line so I will go for buy long.
Exponential Moving Average indicator and cross over strategy
Now we will use another average indicator which is Exponential Moving Average indicator but now I will use another strategy along with these indicator which is cross over strategy. Here you can see two EMA indicator can be seen which are placed on the chart. One is of less days average closing price indicator while another EMA with more days closing price average indicator.
When more days EMA cross the less days EMA and moves above the less days EMA indicator line than this will be bearish trend in the market and when opposite to this as less days closing price average indicator cross the more days average indicator and moves upward then this will be the uptrend
Here in above screenshot short days EMA cross the long days average EMA and now its is moving upward which indicates that market will goes upward and I will enter as buy long.
Fibonacci Retracement tool
So as we confirmed the uptrend of the market with the help of three kinds of Indicator now I will see to what extent I can do trade and where I can put my stop loss and take profit zone. This can be done with Fibonacci Retracement tool.I enter the market when price was $16.938. So as I select buy long so From this above this value next golden ratio is at $17.07 which is my take profit zone and below from this there is golden ratio at $16.79 which is my stop loss. So I will trade between these two values.
Real trade in binnance exchange
So after analyzing in details Now I will execute my trade on binnance exchange in future wallet on LINK/USDT pair.
Here you can see the trade proof as I select the pair LINK/USDT with 5x leverage in future wallet.
Here is the risk, entry price and leverage all can be seen from here.
Your plan to hold it for a long time or when to sell.
As I told you above while using indicators that I always prefer to do trade between two levels pf Fibonacci retracement sequence. Here in this case I also do the same thing. I set my profit level above from that ratio from where I execute my trade and stop loss below that golden ratio.
And when I reach my take profit price my trade was automatically exit and profit is obtained.
Do you recommend everyone to buy this token? Give reasons for your answer.
As this season is about the trading purpose and to understand the the technical analysis. Almost all the lectures was about understanding the indicator and different strategies. So I also recommend others to learn about technical analysis before entering the market. As far as this token is concerned according to my point of view this token has ability to make progress a lot. So if one can hold it for long time then he should buy in spot wallet but one thing kept in mind I am not professional trader, you should also keep your research about this.
Any other thing you might want to share about this coin/token
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Conclusion
In this article I have selected the LINK/USDT pair. In the first section I explained about the basic introduction about the Chainlink network and then about the native token of Chainlink which is LINK token. After that I gives some important feature of LINK token. The next part is the most important part of the lecture which is technical analysis and did that part by using different types of indicator and Fibonacci retracement tool. In the last I told about my plans about this trade and then about some social media accounts.
Best work sir