Beginner’s guide to Technical Analysis

By

-

August 18, 2023

The crypto world looks like another world, most especially when talking about the various cities such as NFTs, fundamental analysis, technical analysis, crypto trading spot, futures, and leverage, among others. One of the words that seem unknown yet known is technical analysis.

Technical analysis is not a stand-alone concept in cryptocurrency. It is one type of analysis in crypto trading.

What is crypto trading?

Crypto trading is buying and selling cryptocurrency to make a profit.

An old-age phenomenon is that crypto trading is all about buying low and selling the crypto when the price increases.

This is just a type of trading called spot trading, whereas there is another type known as futures trading.

Futures trading is a derivative contract agreement to buy or sell a specific commodity asset or security at a set future date for a fixed price.

In simple terms, futures trading is price speculation that can either be a buy or sell.

Nevertheless, analyzing the crypto market is necessary for both spot traders and future traders though there’s a difference.

A spot trader is looking for an opportunity to buy at a lower price and sell at a higher price while a futures trader is looking for an opportunity to either buy or sell in the market.

Irrespective of the market movement, a futures trader has the tendency to make money.

This makes technical analysis widely linked to futures trading.

What is technical analysis?

Unlike bitcoin, technical analysis did not come into being as a result of blockchain technology.

It is as old as man and it is used in the financial market at large

To an asset management company, technical analysis is a trading discipline and principle to evaluate investment and identify trading opportunities in price trends and patterns seen on charts.

In corporate finance, technical analysis is a form of investment evaluation that analyzes past prices to predict future prices.

Generally, technical analysis is a means of examining and predicting price movement and financial market by using historical price charts and market statistics.

Technical analysis is based on the theory that future prices can be determined by looking at historical price movements.

Simply put, whatever has happened in the past can be repeated in the same manner.

Rules of technical analysis

There are three basic rules in technical analysis.

The market discount everything

Technical analysis, unlike fundamental analysis, does not focus on macroeconomic and political events.

Fundamental analysts decide on what to buy and when to buy in relation to economic news while technical analysts believe that any event occurring in the world will be factored in the price.

“Fundamental analysis is technical analysis overtime” , that is; what comes out as economic news is a validation of technical analysis.

Price moves in trends

Another rule is that price moves in trends. This basically means that movement may continue rather than reverse its direction.

This is backed up by the saying that the “trend is your friend“.

Just like what we’re seeing currently in bitcoin.

Bitcoin has been in a downward trend since the beginning of the year.

History repeat itself

Without this rule, technical analysis is not complete. It is believed that charts tend to form shapes that have occurred before therefore analysis of patterns help technical analysts in predicting future market movement.

Is that all about technical analysis?

No. You can schedule a call with the Crypto Smart team to learn more about technical analysis.

About Crypto Smart

Crypto Smart is a B2B Crypto Asset Management company founded in January 2021 by Karla Obakpolor, a blockchain business developer and Algorand ambassador in 2020.

The company offers fast and secure services which are based on a well-encrypted system with 24/7 customer support services. It has grown from offering its services to individuals to companies and major enterprises as well as providing crypto education through various crypto courses.

Crypto Smart upscaled to the Algorand blockchain and offers blockchain products which include SmartChange; a cross-chain P2P marketplace, Bitsave Protocol; a SaveFi protocol that combines savings with DeFi.

England Records Steep Fall In Top A-Levels Results

By

Nzubechukwu Anodo

-

August 18, 2023

1

Top A-level results in England, Wales and Northern Ireland have fallen for a second year running with 27.2% of all grades marked at A* or A.

This follows a spike in top grades in 2020 and 2021, when exams were cancelled because of Covid.

The drop is steeper in England, where grades were due to be brought back in line with 2019 in this year’s results.

In Wales and Northern Ireland, grades were always meant to be a bit higher this year.

There are 73,008 fewer top grades compared with 2022, but 31,834 more than in 2019.

The pass rate for exams in Scotland fell last week but was still higher than before the pandemic.

The fall in top grades will mean disappointment for some students, but it has got nothing to do with students’ individual performance.

It is part of a plan to bring grades back down in line with pre-pandemic levels, after sharp rises in 2020 and 2021 when exams were cancelled and results were based on teachers’ assessments.

The Universities and Colleges Admissions Service (Ucas) said 79% of 18-year-olds applying to university got a place at their first choice – which is lower than last year, but higher than before the pandemic.

500 Million Meticais Available For Conclusion Of School Construction – Mozambique Education

By

Nzubechukwu Anodo

-

August 18, 2023

0

The Mozambican Ministry of Education says it has 500 million meticais (7.8 million dollars at the current exchange rate) available to conclude the construction of unfinished schools.

According to the Minister of Education, Carmelita Namashulua, speaking at the opening of a meeting of her Ministry’s Coordinating Council, the amount will prioritize buildings that are already more than 50 per cent complete.

She said School infrastructures and their equipment remain a priority for the education sector added that the government’s five-year programme envisaged the construction of 3,355 classrooms for primary education, of which 2,791 have been completed, accommodating 278,600 pupils.

She reiterate the exhortation to all provincial managers to be more engaged and swift in building school infrastructure, as was evident in 2021 and 2022.

She said by the end of the first half of the current year, a further 86 classrooms has been built, two secondary schools has been rehabilitated in the northern province of Nampula and three others had been extended in the southern province of Maputo and the central province of Zambézia.

The minister also claimed that the delay in the provision of teaching materials, school management, and compliance with programmes are still challenges for the sector.

she empathized the need for greater involvement of the private sector to ensure compliance with the activities planned within the teaching and learning process.

TETFUND To Deploy Blackboard Learning System To Institutions

By

Nzubechukwu Anodo

-

August 18, 2023

0

The Tertiary Education Trust Fund (TETFund) has concluded plans to deploy a learning platform known as the Blackboard Learning System to provide access to online academic resources in universities and other tertiary education in Nigeria.

Accordingly the Fund has organised a three-day workshop on the theme ‘The Implementation of the Enhanced Blackboard Learning Management System and Train The Trainer Programme’ in Abuja for Directors of Information and Communication Technology (ICT) from various institutions across the country.

The executive secretary of TETFund, Sonny Echono said the platform will provide over two million students and staff of higher education institutions in the country with massive access to online academic resources.

He said the workshop, which attracted Directors of ICT from the 253 beneficiary institutions, was part of measures put in place to bridge the digital skills gap in universities, polytechnics and colleges of education in Nigeria.

He added that the intervention would ensure that physical and online modes of teaching and learning are cemented once and for all in tertiary institutions across the country,

Echono said Nigerian students would be able to compete favourably with their contemporaries on the global stage with the deployment of the Blackboard platform.

Speaking further, the TETFund boss said the fund is improving its allocation to ICT development in its intervention programmes to ensure that the country meets up with the present digital reality across the globe.

He said the fund has commenced various programmes including the Thesis Digitisation Programme, Beneficiary Identity Management Service (BIMS), Tertiary Education, Research, and Application Systems (TeRAS), Consolidated Library Access Platform (CLAP), Aggregated Journal Subscription from EBSCO,

He said Online Blackboard, Sponsored Mobile Internet Data on and off campus, Remote Monitoring, BPP Compliance Portal, amongst others will deliver significant value to the ICT landscape of our Beneficiary Institutions.

Edo Govt Boosts E-Learning, Distributes Teaching Tablets

By

Nzubechukwu Anodo

-

August 18, 2023

0

The Edo State Government has extended its e-learning initiatives to secondary and technical schools in its bid to modernize education and elevate learning outcomes.

This expansion involves providing educational tablets to a cohort of 414 educators from technical and secondary schools across the state.

By the end of September 2023, a total of 1,000 tablets will have been distributed.

The Commissioner for Education, Joan Oviawe, while speaking at the commencement of the programme, underscored the state government’s commitment to sustaining the technology-driven transformation in education.

She said by September, educational tablets will reach teachers and students in Technical and Vocational Education and Training (TVET) colleges, as well as secondary schools throughout the State.

She said the focal point of this endeavour is to train educators who can effectively disseminate their knowledge to their peers, fostering a self-sustaining cycle of innovation and advancement within the education ecosystem.

Oviawe accentuated the pivotal roles that teachers play in propelling the transformative influence of technology in education.

She assured the educators of the State Government’s unwavering support in fulfilling their responsibilities.

she pledged ful dedicated to providing all the necessary tools for excelling in your roles as trainers

She encouraged open channels of communication and urged teachers to provide constructive feedback as they navigated the new technological landscape.

Reflecting on this initiative, teachers and EdoSTAR fellows expressed gratitude to the state government for its resolute commitment to transformation.

An EdoSTAR from Edo College, Ernest Ogoanah lauded the provision of tablets catering to the needs of teachers, students, and parents, deeming it innovative and expecting it to enhance accountability through a comprehensive management system.

UNICAL Suspends Professor Over Violation Of Extant Law

By

Nzubechukwu Anodo

-

August 18, 2023

0

The management of the University of Calabar (UNICAL) has suspended Dean of Faculty of Law, Prof. Cyril Ndifon for alleged violation of the provisions of the extant laws and policies of the institution.

The suspension came days after some law students of the institution staged a protested over alleged sexual harassment by the Dean.

The suspension, which takes effect from August 17, 2023, was conveyed in a letter signed by the University Registrar, Gabriel Egbe.

He was suspended in 2015 for the same issue but was said to have cleared himself after a legal tussle.

According to the letter, the suspension came on the heels of the Dean’s response to a query by the University Management which the Vice Chancellor was dissatisfied with.

Understanding the concept of Crypto Asset Management

By

Abidemi

-

August 18, 2023

0

The term crypto asset management and asset management are based on the same principles.

Asset Management is the process of monitoring, purchasing, and trading investments to be profitable or diversify your portfolio.

The primary difference between asset management and Crypto Asset Management is that the latter focuses on crypto assets.

Digital asset management, over time, has become broader than managing cryptocurrencies. It now includes managing every asset tokenized on the blockchain.

With the introduction of non-fungible tokens, you can have tokenized real estate and tokenized intellectual properties, among others.

According to investopedia, Crypto Asset Management is the practice of tracking, buying, and selling assets that are tokenized through a blockchain to ensure that you’re getting the best portfolio performance possible.

The aim of asset management is to reduce risk and increase profitability from investment.

Crypto assets originally were to be used as a medium of exchange. Nevertheless, using them as an investment opportunity is another function of money that is acceptable, but due to the risk involved in crypto trading, crypto asset management should be taken seriously like every other management principle.

Misconception about Crypto Asset Management

There has been a misconception about crypto asset management being an individual task.

Nowadays, several companies such as Grayscale, Tesla Pantera, and Wave Financial have proven that companies can diversify their investment and manage crypto assets at a larger scale.

Crypto asset management is not limited to companies and individuals.

El Salvador is also proof that crypto asset management is needed at the national and international levels.

Before you start your crypto asset management

Not all cryptocurrencies that you buy are yours

Know this and never forget that any cryptocurrency you buy and keep on any exchange is not yours.

“It is not yours if you do not have the private key”

To maintain 100% control and ownership of your crypto assets, they should be stored in a non-custodial wallet.

Not all cryptocurrencies are worth buying

The ease of access to create tokens has made the crypto market full of different tokens that are created for creating sake.

Make sure you do your own research before buying any cryptocurrencies.

If you are genuinely looking for asset management, not all cryptocurrencies are worth buying.

Keep greed under check

If you are greedy in the crypto market, even the little you made might be taken from you, including the capital.

Don’t bite more than what you can chew

This is just another way of saying invest what you can afford to lose.

The volatility is high, and the crypto market, like other financial markets, is unpredictable.

Investing with your life savings is not an ideal investment.

Take profits

“Always take profits.”

If you reach your profit limit, take profit and secure your capital.

In any investment, even though you aim for profit, your capital should be your priority.

He who runs from the battlefield lives to fight another day.

Stop loss is your good friend

This is the most important in crypto asset management and trading.

Before you target 2x, 10x, 50x of your capital, know the amount you are ready and willing to lose.

Crypto asset management aims to maximize profitability which is why Crypto Smart offers asset management to help individuals and companies maximize their return on investment.

Probably you’re not sure of what to do, sign Up with Crypto Smart.

About Crypto Smart

Crypto Smart is a B2B Crypto Asset Management company founded in January 2021 by Karla Obakpolor, a blockchain business developer and Algorand ambassador in 2020.

The company offers fast and secure services which are based on a well-encrypted system with 24/7 customer support services. It has grown from offering its services to individuals, to companies and major enterprises as well as providing crypto education through various crypto courses.

Crypto Smart upscaled to the Algorand blockchain and offers blockchain products which include SmartChange; a cross-chain P2P marketplace, Bitsave Protocol; a SaveFi protocol that combines savings with DeFi.

Bitsave was announced as an exemplary DeFi project at the Zetachain Omnichain Global Hackathon

By

Abidemi

-

August 18, 2023

0

Bitsave, the Savings protocol of Web3 finance, by Crypto Smart added another feather to its wings as it was announced as an exemplary DeFi project.

The announcement was made at the closing ceremony of the global Omnichain hackathon by Zetachain in collaboration with DoraHacks.

Prior to the announcement of the winners from the 6 categories, 4 projects were selected for a demo presentation.

While talking about the 4 projects that were selected for the demo presentation, Brian from DoraHacks emphasized that the 4 projects selected are really strong and outstanding projects.

Being part of the selected projects for the demo presentation signifies that Bitsave is not just a strong project but also an outstanding project.

Bitsave was the first project to be presented and the presentation was done by Karla Obakpolor, the founder and CEO of Crypto Smart.

During the announcement of the winners, Denis Fadeev, Head of Developer Experience at Zetachain reiterates that Bitsave is a project with so much potential, user friendly and has a social impact.

Prior to being declared as an exemplary defi project at the Omnichain hackathon, Bitsave protocol was announced as the most impactful solution at the Mega Ace Hackathon.

Karla Obakpolor, Founder and CEO of Crypto Smart clarifies that the description of Bitsave by experienced developers, outstanding founders and blockchain enthusiasts around the world is a testament of the exemplary and outstanding nature of Bitsave Protocol.

About Bitsave Protocol

Bitsave protocol is the SaveFi protocol built by Crypto Smart which helps individuals to save and earn interest in cryptocurrency without losing their capital to the market volatility.

Click here to see a live presentation of Bitsave in 7mins.

Also, you can join the waitlist and enjoy the new value chain in web3 finance.

About Omnichain Hackathon

Omnichain Hackathon is a collaborative effort by Zetachain and DoraHacks to support excellent projects and reach out to blockchain developers to launch novel blockchain solutions on Zetachain.

About Crypto Smart

Crypto Smart is a B2B Crypto Asset Management company founded in January 2021 by Karla Obakpolor, a blockchain business developer and Algorand ambassador in 2020.

The company offers fast and secure services which are based on a well-encrypted system with 24/7 customer support services. It has grown from offering its services to individuals, to companies and major enterprises as well as providing crypto education through various crypto courses.

Crypto Smart upscaled to the Algorand blockchain and offers blockchain products which include Bitsave Protocol; a SaveFi protocol that combines savings with DeFi, and SmartChange; a cross-chain P2P marketplace.

Stock Market Sees First Gain This Week

By

Rhoda Onuzulike

-

August 17, 2023

0

Nigeria’s equities market on Thursday recorded its first gain this week amid recoveries in some of the week’s decliners. Thanks to consumer goods, insurance and oil & gas stocks that occupied the buy-side of the bourse.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) closed higher by 0.06percent from preceding 64,625.28 points to 64,663.78 points while equities market capitalisation increased from N35.369trillion.

Global Stock Market: Shares Trading Mixed Amid Worries About China Economy

The market’s year-to-date (YtD) positive return increased to 26.17 percent.

Cutix led other advancers after its share price rose from N2.50 to N2.70, up by 20kobo or 8percent. It was followed by John Holt which increased from N1.20 to N1.32, after adding 12kobo or 10percent, and CWG which rose from N3.28 to N3.60, adding 32kobo or 9.76percent.

This week, the market has decreased by 1.01percent.

In 5,176 deals, investors exchanged 320,346,677 shares valued at N3.729billion. Fidelity Bank, Transcorp, UBA, Universal Insurance and FBN Holdings were actively traded stocks.

Importation: CBN Launches Price Verification System Portal

By

Rhoda Onuzulike

-

August 17, 2023

0

The Price Verification System (PVS) portal by the Central Bank of Nigeria has gone live, the Apex bank has said.

This follows the successful conduct of the pilot run, and various training held with banks in the country, the bank noted.

In a statement signed by the Director, Trade and Exchange Department, CBN, Dr O.S. Nnaji, the Apex bank said “with effect from August 31, all applications for Form M shall be accompanied by a valid price verification report generated from the PVS portal.”

Form M is a mandatory statutory document to be completed by all importers for importation of goods into Nigeria.

And the life span of a Form M varies according to the nature of a business.

The statement added: “For the avoidance of doubt, by the circular, the Price Verification Report has become a mandatory trade document precedent to the completion of a Form M.

“All authorised dealers are hereby advised to bring this to the attention of their customers as any case of infraction will be appropriately sanctioned. ”

The CBN further called for strict compliance from all concerned.