Steemit Crypto Academy | Course By @stream4u - submitted by @mubeenaslam

Hello Steemians, Hope you will be enjoying good health and wealth. First of all thanks to respected teacher who deliver this lecture in a splendid way. This is my first homework for the respected @stream4u

Price forecasting

Forecasting means to predict. When we talk about forecasting, actually we are talking about to judge something, to guess something or to give an idea about something that what happen with it in the future. This prediction based upon the past data. Let me explain price forecasting.
Price forecasting means to predict the price of any commodity about future. It means we are giving our views about the price of specific commodity the past prices keeping in view the past prices. For price forecasting, we have many indicators like moving averages, blinder band, Pivot etc.

1. Technical Analysis:

Technical Analysis means to measure price forecasting with the help of support line, resistance line. It can be helpful for price moment, chart pattern and for trading. In this analysis traders looks upon the current market price, past market price and then predict the future market price. It is the best method to predict the price of any crypto currency.

2. Fundamental Analysis:

In this method traders look upon the company balance sheet, policies of management, value of shares, balance sheet and also observe the ongoing projects of the company. After this they predict that in which way its prices would go. In this method, investors do not look upon the current price of the company shares.

3. Sentimental Analysis:

This Analysis based on the media tools like news, discussions, advertisement, Gazettes etc. This analysis is very risky. Sometimes, it will give you a huge profit and there are chances that it may take you to words huge loss.

Why price forecasting is needed?

Price forecasting is very important for traders, investors, financial marketers, banks and any other companies related to trading market. When any investor wants to invest in specific company, he must check its price forecasting to save his investment from loss. If he would invest without price forecasting, it might take away him towards loss. Another benefit of price forecasting is that it is helpful to make multiple trades in the prescribed market at one time.

What methods are best you feel for price prediction.

I think technical analysis is the best method of price forecasting. Because in this method we can use multiple indicators for price prediction like leading and legging. Other examples are average tools range, RSI, stochastic oscillator, support line and resistance line. Therefore, it the best method because in this method we predict the market price keeping in view the past market prices.
Because fundamental method contains some flaws like poor management policies, fake projects and bearish and bullish trend. The third analysis, sentimental analysis is purely based upon rumours because media news is not authentic way to predict the market prices.

Explanation through chart graph about price prediction:

[screenshot]

This is the weekly chart of BTCUSD. Current market price is 49445.13. Firstly, in the graph it is touching the resistance line. Now, it is in full back trading situation after touching resistance line. I expect this market will run to support line 42452.05 within 2 to 3 weeks. After touching this line it will again move upward to resistance line within 2 months.
This prediction is based upon technical analysis using the support end resistance line.

[screenshot]
Now what happen if inverse situation takes place as you can see in the above picture. If this situation created that the price line breaks the support line then it should be sell.
That’s all from my side. I hope you would like it. Waiting for your positive response.

Thanks

@stream4u