This is My task for @stream4u assignment

1. What Is Price Forecasting?

Price forecasting is the strategies of analysis towards predicting an asset's future price in order to make trading and investment decisions.
Price Forecasting aid our decision making. Should I invest, Should I sell, should I buy more, should I diversify part of my capital into another assets? All these will be at ease with the help of price Forecasting
This is often done based on the asset's seasonal pattern, current price or status, past results, chart analysis e.t.c.
It essentially entails determining whether the value of an asset will rise or fall.
There are 3 type of analysis to use for Price Forecasting

TECHNICAL ANALYSIS:
The act of determining the future price of an asset using a price map or chart, market trend, support and resistance points is known as technical analysis.

FUNDAMENTAL ANALYSIS:
Here, to forecast the future price of an asset, the investor or trader will have to examine the company's financial reports, income benefit or loss statement, market results, management team, and their effectiveness.

SENTIMENTAL ANALYSIS:
Here, The trader or investor uses sentimental analysis to decide how the market will be by looking at news, rumors, and media perspectives. Positive or negative opinions would have a direct effect on the price of an asset, which will aid in price forecasting.

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2. Discuss on why Price Forecasting is needed?

The aim of entering the crypto market is to exchange, invest, and benefit.
If every investor and trader wants to make a profit, price forecasting is needed.
Forecasting will assist you in determining when to sell, keep, and when to buy more assets, as well as when to engage in unique trading that will increase your profit potential.
Price forecasting is often needed to minimize uncertainty and the risk of losing all investments in a single transaction.

3. What Methods are best you feel for Price Prediction/Forecasting.

The market is always full of risk, yet one of the best chance we have gotten is to minimize the risk, and one of the major thing to minimize risk is price forecasting.
About the best method I prefer,
Technical analysis is my preferred approach over all others. The reason for this is that in technical analysis, the investor uses the asset's current output and price to forecast whether the demand will improve or deteriorate.
Factual occurrence is done on assets through technical analysis which makes it an effective was to minimize risk in trading and investment

E.g when using price chart for forecasting, there is a good possibility that such a prediction will come true since it has happened before.

4. Take any Crypto Asset Chart graph and explain how to do Price Forecasting.

As at the time of this post, the current price of BNB is $509 where as, as at Dec, 2020 the price was ranging from $32 - $40, which can be regarded as the previous support level. As from January, the price has been increasing steadily and flourishing. I planned the support level at $209 because after a while, the price went up and came down to that level and fluctuating, which is why I placed $209 as the new support level, while I placed the resistance level to be at $580. Though, it has break the resistance few times but yet, it does still come down to maintain that level.
Looking at it, and the current trend which BNB is following, apart from the general fall in price, the price of BNB will definitely go up again in times to come.

5. Conclusion

Investment and trading is a good thing, but before trading and investment, it is good to do personal research and carry out analysis on assets we wished to trade, or invest on.