Crypto day trading can’t be sustainable without accurate and frequently updated price forecasts, even when you trade a relatively stable coin like BTC. That’s why Traders Union experts have created their own service for daily Bitcoin price prediction.
Like the majority of other cryptocurrencies, Bitcoin can be very volatile. Its price can suddenly surge in almost no time, and you have to notice such trends early to utilize them and make significant profit. An experienced crypto trader can use technical analysis methods to recognize upcoming trends, but such methods may prove too difficult for novice traders. In a recent Traders Union article, the analysts have presented their new service for weekly and daily Bitcoin price prediction.
How BTC forecasts work
The price of Bitcoin depends on many dozens of different factors. Some of them are fundamental: the rate of adoption by commercial companies, the overall situation on the crypto market, various news or publications related to its future, technological advancements, and so on. Such factors generally affect the price in the long term and interest investors, not traders. Crypto traders are more concerned about short-term factors: they want to know where the trend is going right now and how the price will behave in the next several hours or days. These factors are covered by various technical analysis methods.
Traders Union experts have made their service for short-term predictions of BTC prices using several technical analysis instruments. These tools analyze the market automatically for each timeframe: from five minutes to one week. You can choose the timeframe you like to get an accurate prediction based on several indicators at once. The service also features a table with BTC price predictions for the next week that gets updated daily, so you can understand where the current trend is going in just a glance.
The service is mostly based on the use of moving averages, or MAs. These indicators help you get rid of random market fluctuations and see the underlying trend more clearly. Their signals are updated on a daily basis, so you can visit the page frequently and get fresh forecasts.
Best place to trade BTC
Even when you know how the BTC price is going to behave, that does not mean you can make profits that easily: finding a reliable exchange is just as important. The most useful option on the market right now is the ByBit crypto trading platform, according to Traders Union surveys. It offers a wide variety of futures for BTC and many other tokens, and you can trade them through a convenient mobile app. It’s novice-friendly and simple, and the minimum deposit is just $1. Moreover, the leverage rates go up to 100:1, allowing you to make money quicker.