Steemit Crypto Academy | Course for @stream4u - All About Price Forecasting. by @jensys888
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HomeWork Task.
Entering in matter the study and analysis of the market are extremely important for investors as they indicate the trends that the market in the future may take through its own history or event occurred at that time. it is very important to highlight the importance so great that it has and is to provide almost accurate data of the movement that continues in a certain time is so important that developers created programs capable of performing these tasks of price predictions in minutes to sell their data to companies or organizations that want to invest in that asset that can be shares or digital cryptocurrencies. thank you very much professor @stream4u for your lecture I have read and understood each of the features I highlight below my development of the context.
What Is Price Forecasting?
Known worldwide as price forecasting It is responsible for predicting the future of an asset this can be a share a company or a digital cryptocurrency using some kind of analysis in a given time these can be divided into 2 types short and long term. as for the movement of the markets currently remains uptrend, and there is talk of a supposed fall at the end of this year 2021, which would come into play sentimental analysis with respect to cryptocurrencies many talk on social networks of this next fall of the market but in the technical analysis indicates that very soon comes marking an uptrend and then fall and come to touch a soporten at the bottom. here will determine the path of the market if until this does not happen the market is rising.
Discuss on why Price Forecasting is needed?
The importance and benefit of price forecasting is as important for investors to make decisions as the entry and exit of operations to implement a strategy to maximize profits for this is needed to predict the future of a currency through the systems that exist as is the technical analysis fundamental analysis or sentimental analysis each of these offers very important data that can change the trend of any asset in a given time to then change. The great investors buy in the future entering at the lowest point of the analysis and leaving at the highest to generate large amounts of profits thus obtaining a profit of 5x to 10x and all this thanks to the forecast analysis.
What Methods are best you feel for Price Prediction/Forecasting.
There is no one method better than the other for me all are very important to take into account the method that works best for you and that you feel more comfortable, at least for me the technical analysis works quite well with it I can identify the supports and resistances through the structure of Japanese candlesticks that tell you the opening and closing highs and lows among other fundamental characteristics of these understand that through this analysis we can predict the future of a market is a bit complex but as you understand it you will understand the market.
Different analyses to determine the trend of a market
Technical analysis
As I said before the technical analysis is one that by means of a graph can predict the trend of a market in the future through the Japanese candlesticks can identify the exact point of entry and exit point of the market currently large industries working with software that implement such programs to make it much easier to determine through algorithms a trend of a particular market.
Take any crypto asset chart graph and explain how to make price forecasts.
I will take the DOGE/USDT chart clearly we are still looking at an uptrend on the 4 hour chart DOGE to recover on the way.
In the following chart we can see the entry points in those points we can see big resistances that indicate a change of trend to the rise and wait for the price to go up to sell if the price goes down from those points it is time to hold never sell in loss unless it is a serious economic emergency. it would be a mistake to buy up to sell down. that is the technical analysis that I explained before.
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We see that the price has an upward trend is currently at entry point 0.27 $ or lower and the exit point clearly 0.40 to 0.41 $ why leave at that point and not wait for it to rise more? because at that point is the strongest resistance and the diagram indicates the break of this for the fall if it were to rise we can enter at a more comfortable point by performing again the study of technical analysis at that point.
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For April 29th to May 1st the trend is upwards which indicates that the market will reach its maximum and will try to break it. This is an ideal exit point because if it breaks negatively our efforts will be useless in the market and we will have to wait another long time for it to go back up to that point if it goes up.
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Conlusion
All market prediction systems are extremely important to determine the entries and exits of the market in general, making a good study and practicing a lot we can see a great growth in our economy because of this will depend on our capital. so we must study and pay close attention to the market in general some weather event, some velico event, or simply the fall of an international market but really the best for me was the technical analysis. thank you very much professor for your great work that implements day by day this makes our intellect and personal growth grow.
Hi @jensys888
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