Technical analysis by matrix method (2023/4/14) Bitcoin, new upward trend? : Rakuten Wallet | coindesk JAPAN


In this article, the Bitcoin market is analyzed in 5 stages (5 → 1: Strong → Weak) using six representative technical analyzes: pattern analysis, moving average (9MA, 25MA), Ichimoku Kinko Hyo, Bollinger Bands, MACD, and RSI. Evaluate the strength of the market with the average. I believe that fixed-point observation and objectivity are important in technical analysis. The aim is to eliminate arbitrariness and improve accuracy by combining multiple representative analysis methods.

*This article is a reprint of the technical report of “Rakuten Wallet”.


The overall score is 4.2, a strong number exceeding 4. The buy signal lights up outside the oscillator-type RSI, suggesting the occurrence of a new uptrend. The RSI has also not reached overbought and the market may be young. Last week, I said “let it go”, but it looks like it’s on the top.

pattern analysis

After breaking above the rising flag and reaching 4 million yen, the pair formed a small triangle crossing, but this morning, it broke out and explored room for an upside.

Rating: 5

moving average

9MA and 25MA were thin, but it avoids dead cross, and both 9MA and 25MA are upward and widening, and it is a strong shape that is practically close to the golden cross.

Rating: 5

Ichimoku Kinko Hyo

Buying sign of 3-yaku turnaround continues. The rise in the base line has come to a halt, and the conversion line is approaching.

Rating: 4

bollinger bands

The squeeze is turning into an expansion, forming a new uptrend. There is also the possibility that a band walk will start.

Rating: 5


The dead cross ends in a trick, and the golden cross appears. There is also a possibility that the signal lighting in the flat zone will be deceived, and both lines are slightly upward and there is no sense of momentum.

Rating: 4


Just before 70, overbought.

Rating: 2


Yasuo Matsuda
Rakuten Wallet Senior Analyst
Majored in the international monetary system at the Faculty of Economics, University of Tokyo. He is engaged in foreign exchange and bond sales and trading at Mitsubishi UFJ Bank and Deutsche Bank Group. Since 2018, she has been engaged in analyzing and forecasting the crypto-asset market at a crypto-asset exchange company, and is forecasting a peak of 8 million yen in 2021 and 5 million yen at the end of the year, which is almost right. Current position from January 2022.

*This article provides information for reference in making investment decisions, but is not intended to recommend stocks or solicit investment activities. In addition, Rakuten Wallet does not solicit investment or make definitive forecasts.
*Information sent may include future forecasts, but this is the opinion of the individual sender, and we do not guarantee its accuracy or reliability. Please make your own final investment decisions.

| Editing: coindesk JAPAN
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