Crypto Academy Season 2: Week 2 - Homework post for [@stream4u]

This is my homework post for Week 2, Season 2. the respected professor @stream4u.

What is Price Forecasting and why it is needed?

Price forecasting predicts the price of an asset by estimating various factors (such as its characteristics, demand, seasonal trends, prices of other commodities (such as fuel), references from many suppliers, etc. At the same time, other companies may use information about future prices.

Forecasts are based on estimates of invisible data. ...A forecast is a subdivision of forecasts in which we make predictions about the future based on-time statistics. Therefore, the only difference between forecasting and forecasting is that we consider the dimension of time.

However, if a trend is identified, the buyer can at least take an appropriate position to purchase according to his perceived needs.

Different methods of Forecasting

We discuss here three different types of method that given below.

Technical analysis is a business discipline used to analyze investments and determine trading opportunities by analyzing data trends collected from trading activities (such as price fluctuations and trading volumes). ...Technical analysis can be used for any security with historical trading data.

These include moving averages, support and resistance levels, Bollinger Bands, and more. All tools have the same goal: to make it easier for technical traders to understand chart trends and identify trends.

Fundamental analysis is a method of measuring the intrinsic value of securities by examining relevant economic and financial aspects. The ultimate goal is to provide a number comparable to the current security level to determine whether security has been compromised or exceeded.
Fundamental analysis can help you determine the best company in your industry. This is very useful for investment purposes because it determines the actual value of the stock. With the help of this analysis, the future growth prospects of a particular sector or industry can be determined.

Sentiment analysis is a natural language processing process used to determine the quality of data. Customs analysis is usually based on text data, so companies can identify products and product impressions in customer feedback. And understand the needs of consumers.
Sentiment analysis studies information about subjects in the form of expression, that is, opinions, evaluations, emotions, or attitudes about subjects, individuals, or existence. The expression can be described as positive, negative, or neutral.

Which method is better?

Fundamental and Technical Methods are effective to analyze the market. These methods are very important and helpful in trading our crypto assets.

In my opinion, the technical analysis is better than all others. This analysis shows upcoming price predictions.

In this section we discuss and explain how to do price forecasting with the help of Technical Analysis using different tools on chart pattern

In the chart above screenshot from trading view, I have mentioned the support and resistance. The previous resistance acting as a support after breaking the price above. Now price testing the support level and the price indicates to upwards, this is a good opportunity for buyers to enter the market.

In this chart, we can see the price trying to upward and I mention the levels for buy and exit. We can buy the assets at the support level and exit at the resistance level.
In my prediction, if you feel any doubt you can discuss me in the comments section.

Thanks for your lecture @stream4u.

Regards. @amjadsharif