How To BEST Predict Crypto Prices and Recognize Trends

crypto investment and trading are like a game in which winning or losing is determined based on market factors like demand and price these factors sometimes have to be determined quickly in a matter of minutes or even a few seconds i'm not exaggerating here guys things in the crypto world move fast if you didn't know how to recognize trends before everybody else does you'll be left behind today i'm gonna be teaching you how to make the big moves let's get it welcome to bitboy crypto the hardest working channel in all of cryptocurrency if you're new hit that subscribe button check the description for links you can use to connect with me in the bit squad all right guys i'm sure there is no need to emphasize any more about this one thing is knowing the rules another thing is knowing how to play the game the right way game theory i mean are you going to be one of those who don't risk and don't win one of those who throw their money into a gamble and rely on luck or will you be one of the smart ones and the professional traders who knows the ins and outs i reckon everybody would pick the third come on even an idiot should know what's best if you agree with me then you'll definitely need to understand how to recognize trends and predict crypto prices which makes you able to be prepared for the long run so let's dig into how forecasting crypto prices works so you can increase your earnings first of all let's start with the two most basic states of the crypto price bullish and bearish we have a bull market when the price is thriving or it's expected to keep rising for a while in the opposite direction a bear market indicates a time when the price is falling were expected to plunge sounds like a zoo huh please don't ever think simply that rising is always good or you will get wrecked these are the two basic principles if you predict the market will be bullish you're encouraged to hold on to your funds or even buy more coins than sell them when the price goes up contrary if you see bearish movements it's better to sell out before suffering from losses i just did that it's quite simple though right bowler bear that's what you need to keep in mind and determine case by case i can hear you guys asking now but bit boy how the heck are we supposed to know whether the market is bullish or bearish well it can be a hard one the answer will depend on the time and who you ask so don't expect anybody to tell you you got to figure it out for yourself also the time frames are important so i know probably not what you expected but thankfully we have a lot of data charts and tools provided by various exchanges and software all we have to do is chop them off and grasp the best ideas we can come up with so here i'm going to give you an introduction about several popular ways that are being widely used to analyze the market price they can be divided into three main categories technical analysis fundamental analysis and sentimental analysis technical analysis in particular involves all historical statistics including price movements trading volume and many other past indicators and metrics based on watching the price history records plus some extra calculation you may be able to notice similar patterns and catch hints of when it may go up and down again for example now that we just experienced a little bit of bearish action in the market what was the trend once the last bear market ended for bitcoin fundamental analysis approaches price direction from another perspective not from the crypto price itself from a macro viewpoint and other external factors these are things like the demand and use case for a project as well as other factors such as the world economy company revenue the weather forecast on an upcoming superstorm or a new marvel blockbuster i'm not even kidding if there is any big event coming in the future in a blockchain project that could potentially benefit from it you've got to keep your eyes open industries change so now we've looked at the historical trends in the current events that could affect the market the last key element sentimental analysis is the human factor including not only crypto traders but everyone no matter who they are from politicians celebrities reporters or even regular people who hang out in the walmart parking lot at least that's what they do here in georgia the more influential the more people are likely to affect crypto demand and price you guys may have heard the recent case in which several big name twitter accounts were hacked and tweeted out bitcoin phishing attempts to millions of users what a scam you know what i mean the butterfly effect can really drive a massive craze these effects can go both ways such as the prices mooning once a celebrity decides to tip their toes into crypto or maybe even paint their nails i'm sure though you are tired of theory so let's move on to the thing you will be facing every day when you make a decision reading charts i've heard many people complain about having no clue how to read and draw a conclusion from charts don't worry i'm here to show you the secret art it's not really even that difficult if you take a look at this candlestick illustration here price charts are an indispensable component and technical analysis they reflect the fluctuation in the price over a period of time which can be a 24 hour time period a week a month or even a lifespan here's a tip for reading charts though focus on the color of the thick column we like it thick green implies that the price gained value while red shows prices dropped you see it's easy like eating candies the two heads of the fit column represent the opening and closing price following the green and red rule up represents the closing price in green but the opening price in red with the opposite being also the case the next thing to notice is the thin line with the top showing the highest price and the bottom for the lowest price during that session congratulations you've now acquired all the data you need to read and understand a chart now you only need to practice and learn the rules so let's move on to a higher level to use the data to recognize the trend in market price we have another tool called trend lines this method focuses on outlining a linear route made from high or low points to draw an upward or downward trend while excluding abnormal or occasional fluctuations appearing during the whole period conversely there's another tool called a moving average in which you can track the movements by connecting the average of a range of market prices we often choose closing prices based on the moving average line you can catch up on the trend in the longer term together with typical points while trend lines are usually more suitable for short-term decisions these are the most basic things you should know about technical analysis and reading price charts which you might be dealing with a lot depending on how serious you want to take trading certainly it requires a lot more time and practice to master this technique let alone combining fundamental and sentimental analysis into your homework evaluating the business system or even a trader's emotions is much more sophisticated than these other advanced tools so for now what you need to do before thinking about those headaches is to try the best is to try your best to utilize the charts do you want my personal advice haste makes waste being the best at one thing is better than being mediocre at everything and i assure you guys that you will find crypto trading much more fun and enjoyable after doing that you guys make sure to keep your eyes on your portfolio and monitor events that could affect it good idea sir but now it's your turn what other tips do you have when it comes to detecting crypto trends what other techniques would you like to know about let me know what you think in the comment section below i hope you enjoyed this video if you did please make sure to smash the like button and hit subscribe to become a member of the bitsquat thank you so much for watching have a blessed day [Music] you

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