Crypto academy week 10-homework post for @stream4u/all about price forcasting by teco.

Hello my wonderful steemains,happy sunday to you all hope you guys are having a wonderful day? Here is my assignment work which was lectured by my amiable professor @steam4u on price forecasting.

Question no 1:
What is price forecasting? Price forecasting to my own understanding is the prediction of an asset for future occurance. Its obvious that prices of an asset do depreciate or appreciate that's to say that price do fluctuate in market,but one can forecast future prices of trade in order to avoid loss,price forecasting is basically the prediction of the value or net worth of an asset in future to come. Futhermore if one can be able to know the future networth of an asset it will help him or her to know when to how to and what to invest because the more you know the lesser your chance of avoiding loss.
Price forecasting is also an another important factor for a trader in market in the sense that a trader who wants to invest on crypto market needs to observe the current situation of trade and if it comes to his notice that an institution is aiming to invest on a particular asset,this will accelarate market price flow and it is a premium opportunity to make profit,lets use doge as an example doge coin value grew by around 216 percent to 0.023535 us dollars after comments from tesla ceo elon musk.this helped many investors that invested on the coin to maximize profit because of the rise in price of the asset.

Question
Discuss on why price forecasting is needed?
To me as a trader,price forecasting is essential in the sense that it gives an investor or trader the opportunity to maximize profit and reduce his risk taking. When an investor or trader carefully forecast on an asset,he will be able to know his entry point,exit point,when to buy and when to sell.
When i was looking for an asset to invest on,i started my forecasting and was able to know that Amazon has accepted safemoon as a method of payment i have to invest on the coin and i have been smiling since then because of the high rise in price of the coin,had it been that i did not forecast i wont have known the better asset to invest on.

Question no 3: the method i feel is best in price forecasting:
Its obvious that every trader has his or her own view on forecasting,but to me from my study on the three method of analysis,i feel that (technical analysis) is the best analysis method,reason been that in this method one can capture his his price line,his trend line support and resistant line etc. If a trade tracks the support and resistant line then combines it with candle stick pattern like" pin bar" then the trader can easily predict the direction of the market and know when to close.
Secondly,with technical analysis a trader can easily place a trade and feel relaxed in the sense that it normally gives an accurate prediction.

Question no 4: take any crypto asset chart graph and explain how to do price forecasting? Or take any crypto assets chart graph and as per its current price,tell us what will be the future price for next one week or 1 month.

Here is my crypto assert chart graph on price forecasting.

From the figure above,when the pin bar forms on support line,either uptrend or downtrend it indicates that a change in position,from the box above we can see that a pin bar formed in the support line and the subsequent trades changed to sell.
Therefore,technically,when a trader identifies trend just wait for the formation of pin bar then enter the trade for a reversal that is what in the figure above.

In conclusion, price forecasting is an important factor for any trader or investor because it helps in reducing its risk of loss and increases his chances of maximizing profit,we all know that the sole aim of every trader is to maximize profit and in order to achieve this,an adequate forecasting needs to be done carefully.
I will be so happy if you go through my post @stream4u.