The two basic methods to forecasting price development are called technical analysis and fundamental analysis. The technical analysis attempts to predict the direction of prices based on primarily historical prices, past market data, and volumes found on price charts. The fundamental analysis, on the other hand, analyze the underlying forces and factors of the economy or a company.
In order to perform technical analysis on Bitcoin volume history and Bitcoin price, you will need to find Bitcoin price charts that provide information and display data in a more understandable manner and not just plain number tables without any essential information. We recommend you to start with Bitcoin Price Index (the charts available on the official Coindesk website). The closing prices or any period of time, let’s say one hour, a day, a week or a month are used to draw the Bitcoin price line. This type of chart can be used to get a preview of what the current prices have been doing lately, however, please keep in mind that traders usually need more information to draw their final conclusions.