Source
Introduction
PRICE FORECASTING
Its function is to predict the future of an asset taking into account the history of the market, environmental events, the development of a company in this case of a cryptocurrency we can analyze its current market and the future through some tools that we will know later, currently it is very complex to predict the future for example of BTC, for example what happened in China when they closed the largest company in China due to climatic effects, several millions were liquidated and the BTC went down a little, also with the news of the United States about "binden" especially about taxes also affected remember that China has 8% of the mining activity in the world and the United States 7. 4% what is important to highlight that has some change we can apply in this case the sentimental analysis. there is also talk that at the end of this year btc will go down but not before a good rise. everything is speculation what we know is that the BTC is very volatile today can be at 49mil tomorrow can be at 72mil. everything will depend on the analysis that we apply.
WHY PRICE FORECASTING IS NECESSARY
It is very necessary because with it we can determine when we enter an operation and when we get out of it. to get as much profit as possible. without this type of analysis we could not see what will happen in the future we would be blind. really we all use this type of analysis to determine if the price goes up or the price goes down. the big whales perform this type of study but with specialized software for this purpose the new or beginners lose a lot of money by ignoring this type of analysis that is why I see it as so important.
Most investors see the charts over 4 hours even days and wait for years the big investors like tesla see the btc in the very long term from 4 to 10 years to see considerable profits, but they do not stay there waiting as time goes by they make intermediate operations to increase the capital and thus obtain the greatest possible amount of profits in the estimated time of operations.
THE BEST METHOD FOR ME OF PRICE FORECASTING
The technical analysis together with sentimental analysis give good statistics of how the market will go in the near future with this method we can identify the opening and closing of a particular market we can also determine the value it may have in the future through a graph that includes the Japanese candlesticks. when they are in green indicates that it is rising and when they are in red indicates that it is falling if we see a series of movement and as the graph progresses we can determine its trend and make an entry or exit of the market we will see a series of resistances and supports that are very essential in the long term for our final analysis.
Sentimental analysis
This analysis is closely related to a series of events in real life such as weather effects, catastrophes and diseases pandemics etc. this market is very predictable because with these unpleasant events can determine the turn that may have a particular market, last year when the pandemic began significant changes were seen in the trends of cryptocurrencies down and for December and January the change was radical all upward still remain in that sense. Therefore, a good sentimental analysis through social networks, television, and fast, could indicate the beginning of a trend in a particular market.
Technical analysis
One of my favorites and is the one I currently use is to analyze a graph consisting of a series of Japanese candlesticks of 2 colors green and red with an opening and closing also see resistance and support that are a very good key to determine entry and exit points programmers designed an automatic system for fully automated operations by bot, these sofware are implemented for large corporations or (whales).
Fundamental analysis
In this analysis we will see beyond the graphs and sentimental statistics we will leave it aside and go for the performance and objectives of the company, if we see that everything is moving as we expect in positive all goals are being met developers infaman each scope each goal met enlistments in Exchange negotiations with investors and we see a steady evolution without seeing the rest we will bet and accumulate in this case cyptocurrencies because we know the direction of the currency with upward trend.
let's look at this technical analysis of the BTC
Let's see this technical analysis of the BTC is currently in the zone of 50mil and makes link with the resistance of the 23rd of March which is currently in 1 day. the trend is bullish for the moment is time to accumulate at that point and then sell higher by the 59mil to 63mil dollars. and make profits.
Source
We are at the point of buying or accumulation not selling the trend is bullish and the chart indicates it is time to accumulate or hold. and then sell 34% higher by the 60 to 64 thousand its historical maximum. and take profits and then if it reaches resistance points buy and accumulate again.
Source
The trend indicates that by the first of May it will try to break its high of 64 thousand rising almost 34% if it breaks its trend it will continue upwards but if not it will go down again to previous resistance points and even try to reach 42 thousand. so the selling point is at 60 thousand and now it is time to accumulate since the current uptrend allows it.
Source
Conclusion
My analysis on BTC indicates that the uptrend is not over and that very soon for the 1st of May if the trend stays like this and btc is recapitalized above the billion dollar mark and does not break the midline my technical analysis is that it will go up. so if you are thinking of buying now is the time this assignment was too informative very educational and very productive thank you professor @stream4u hope to see you in upcoming topics like this where we will learn more about trading or hold market entries and exits I am very happy with the academy and professor @stream4u thank you
Thank you
@stream4u
@stemitblog
@steemcurator01
@steemcurator02
Hi @leydy69
Thank you for joining The Steemit Crypto Academy Courses and participated in the Week 10 Homework Task.
Your Week 10 Homework Task verification has been done by @Stream4u, hope you have enjoyed and learned something new.
Thank You.
@stream4u
Crypto Professors : Steemit Crypto Academy
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit