[Link to my post]https://steemit.com/hive-108451/@sonia440/eos-usdt-long-future-trading-competition-crypto-academy-s6t4-homework-post-for-pelon53-by-sonia440)

Introduction

Good tidings, steemians! I'm eager to be a piece of this awesome rivalry. During the current week's task, I'll join Team Investors lead by teacher @pelon53 , So let's get started.

• The name and introduction of the project token, and which exchange can be traded on, project/technical/team background, etc

EOS is a decentralized blockchain-based used to create, host or run business applications. EOS allows businesses or individuals to design blockchain-based applications in similar to web-based applications. EOS gives access , authentication, permissions, data hosting between decentralized Apps and Internet. EOS network is made up of EOS.IO software and EOS tokens. EOS tokens is used as a payment method on the network.

EOS was launched In June 2018 , The consensus mechanism in EOS is delegated proof-of-stake. Larimer proposed this DPoS as a way to address some of the shortcomings in the PoW and PoS consensus algorithms.

EOS Team

Daniel Larimer and Brendan Blumer are the creators of the project

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The EOS token has been listed on numerous exchanges, including Binance etc. The following is information about EOS that was obtained from coinmarketcap.

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Price: $2.84

Rank: #49

Marketcap: $2,802,519,588

Volume: $1,068,149,876

Volume/Marketcap: 0.3811

Circulating Supply: 985,516,659.87 EOS

• Why am I optimistic on this token today

I feel this token will increase in value, and I observed on my technical analysis chart that the currency has been in an uptrend for some time, which is true of practically all crypto assets. The median and RSI indicators were employed in this study. The median indicator is a trend-based, trend-catching indicator. It can be used to predict market direction and volatility to some extent. Simply put, it displays the median value of the chart's high and low points during a specified time period. This is accomplished by the use of ATR (Average True Range). It's a thick median line that works as a moving average and changes color based on whether the market is in a bear or bull market. Actually, When the median line crosses the same-length EMA, the green band appears, whereas the purple band appears when the median line crosses the same-length EMA.

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I also study market with using another time frame (15mins)

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• Analysis of the Token

The themes were taught in the academy, as evidenced by the thick median line that works as a moving average and is colored purple or green depending on whether the market is in a bear or bull market. When the median line crosses the same-length EMA, the green band appears, whereas the purple band appears when the median line crosses the same-length EMA. I saw that the market has been in an uptrend using a 5min and 15min time frame, and that the RSI indicator has not reached the overbought zone, and that the price has crossed resistance a few times. I entered because I wanted to trade for a limited time period with a 2:1 profit to loss margin . The RSI indicator appeared to be going upward. So I entered a buy trade at 2.916 and set my take profit at 2.944 and my stop loss at 2.898.

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The image below shows my orders carried out on binance exchange. So I placed trade with entry price of 2.916 and set my take profit at 2.944 and my stop loss at 2.898 . So immediately I placed my trade I took the screenshot below.

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After some time I discovered the market hit set my take profit at 2.944 and made multiple retest at that zone.

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Trade Info

Parameters	info
Entry	2.916
Take Profit	2.944
Stop Loss	2.898
Ratio	1:2
Profit Made	$0.05600000

• Your plan to keep it for a long time or when to sell it?

Because of the market's volatility, I don't intend to hold the trade for an extended amount of time; instead, I just do short-term trading to benefit whenever the market exceeds the stop loss order, and because I'm still new to futures trading, I don't want to liquidate my cash.

• Do you recommend everyone to buy? Give reasons for recommending or not recommending

According to my analysis, the token will continue to increase in the future and has a solid use case. Anyone with the financial means should buy and hold for a long time because the token will climb sooner or later and is worth investing in.

Conclusion

In this assignment I was able to trade EOS/USDT for the on binance future market and also analyze the EOS token. Like I said EOS allows businesses or individuals to design blockchain-based applications in similar to web-based applications

Am Thankful professor Professor @pelon53 for this wonderful lecture and also time.

Cc:
@pelon53