CELR/USDT 2nd Buy long Order |12$ Profit -Steemit Crypto Academy | S6W1 | Team Trading Contest Post for Crypto-Empires
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👉 Brief Introduction of the Celr coin (CELR)
For the 4th day, I have selected the same coin which we used to Trade yesterday Celer Network. Still, CELR coin has been discounted for a very low price as compared to the previous few months. It was really happened due to the BTC crash. However, we can directly say this is a coin with big potential. Let's look at a screenshot of Celer Network's official website.
Screenshot - https://www.celer.network/
This is A layer-2 scaling technology Enabled blockchain. It works as a very fast and secure network and as well as low-cost blockchain applications on Ethereum and some other blockchains.
CELR is basically working from the mechanism of Proof of Stake. Therefore, it is not necessary to create miners using any hardware powers such as Bitcoin and other coins that are working on the Proof of Work mechanism.
According to my analysis, there are mainly two separate layers in the CELR network. That is why it is known as a layer-2 scaling platform.
👉 Which exchange can be traded on
CELR is a very popular and heavy potential project in the Cryptocurrency field. So, it has been listed with a lot of major exchanges including Binance, Huobi, and Kucoin. Below I have mentioned the Top 10 exchanges that can be used as a Trading platform for CELR coins.
Screenshot - https://coinmarketcap.com/currencies/cardano/markets/
👉 Why are you optimistic about this Token today
Same as yesterday, I am not going to buy this coin in my spot wallet. Because already I have some amount of CELR in my wallet and it will take a few days or months to rise again with this general Bitcoin Crash. However, still, if someone needs to buy this coin as a long-term investment, he can buy this token using the dollar cost average technique.
So, today, I will trade on this CELR coin using Futures Trading. Because I'm much familiar with the scalping trading technique and today I will use a bit different technique. So, I will take my entry using a 5min chart as I need to exit from the market soon. This is because there is a lot of bad news in the Market as compared to good news. So, it's better to take entry points without wasting time.
👉 How long do you think it can rise?
In fact, this Token will definitely rise with very good profits in a few days. But, Today, I wish to take my profits within a few hours or minutes as I'm following a 5min chart to take my entry and exit.
So, in this post, I will invest 20$ by multiplying it up to 200$ which means that I'm going to take my entry for 200$ using 10x leverage. It is the same as yesterday's Trade but the Trading strategy is different.
I have already completed the fundamental analysis part of this Coin above. So, it's time to do my technical analysis part. Here I've chosen CELR /USDT pair and firstly I will analyze my chart using a 5min chart. Let's do it.
Screenshot - https://www.tradingview.com/chart/
According to the above screenshot, you can see the indicators which I have used in this Trading strategy. That is the RSI indicator and Ichimoku Cloud Indicator that were clearly explained by academy professors in the past season. At the same time, I have used support and resistance levels to place my entry and exit points correctly.
So, here you can see a good double bottom pattern has formed from the RSI indicator and that is a good bullish sign for taking a Buy long entry. Especially, I will take my entry after the formation of a good bullish signal from the Ichimoku Green cloud. Let's take my entry and see the progress.
According to the below screenshot, you can see the progress of my order after a few minutes. It has really moved as I expected. So, I have taken my entry using 10x leverage.
Now let's move to the Trade proofs ideally my entry point.
Screenshot - Binance Mobile App(Futures)
Now let's move to the Trade proofs ideally my exit point and Trade result.
Screenshot - Binance Mobile App(Futures)
According to the above screenshot, you can clearly see that Target has reached the same as my expectation. Now I have sold my Coin at the exact exit point that I have highlighted in the Chart. Let's look at my Entry and exit order Transaction details too. At the same time, I have highlighted my profit(12USDT) for the 140 $ investment that I earned within a few minutes.
Like I said earlier, I have already closed my order according to the relevant Trading Plan. And also, I have earned more than 12$ $ as my net profit for this 140$ investment which is more than 10% of earnings as a percentage.
Definitely, I recommend this coin for anyone who is willing to take a good profit as a long-term investment. However, as usual, if we take short-term entries like Futures entries, we should place a tight stop loss as it is very risky to take entry points in this very volatile market.
This is all about my Trading post and I thank you to professor @reddileep for including me in your valuable Trading Team. I also used one of your taught Trading strategies and it was very successful.