In this article, the Bitcoin market is evaluated in 5 stages (5 → 1: strong → weak) using 1) pattern analysis, 2) moving average line (9MA, 25MA), 3) Ichimoku Kinko Hyo, 4) Bollinger bands, 5) MACD, and 6) RSI. , and evaluate the strength or weakness of the market based on the average.
I believe that fixed point observation and objectivity are important in technical analysis. The aim is to eliminate arbitrariness and increase accuracy by combining multiple representative analysis methods.

summary

The overall score is 3.0. Trading in a range of 7.6 million to 7.95 million yen, breaking below the sharp parallel channel. There are mixed strong and weak signals, and rather than there being no sense of direction, there is a shape that looks like it will break out either up or down, and there is a strong adjustment signal in the RSI, so I think I will try to make an adjustment first and then try the top price.

In addition, here we use the chart of BTCJPY from Rakuten Wallet’s margin exchange. Please refer to the BTCUSD chart here (link is to TradingView’s website).

pattern analysis

As I said last week, “There is a strong uptrend in a sharp parallel channel, but it looks like it will break below the channel in the short term.” As I said, the price has broken below the channel and formed a range of 7.6 million to 7.95 million yen. ing. It is close to a rising flag, but on the other hand, it has clearly broken below the channel, and it looks like it will make some adjustments. It’s not that I don’t have a sense of direction, but that I feel like I can escape either up or down.

Rating: 3

moving average line

After the Golden Cross, both lines are trending upwards, but the 9MA is likely to level off.

Rating: 4

Ichimoku Kinko Hyo

The buy signal of the 3-way turnaround continues.

Rating: 5

bollinger bands

As I pointed out last week, Band Walk has been dissolved. It wouldn’t be surprising if the band was adjusted to be a bit squishy and close to the center of the band.

Rating: 3

MACD

On the verge of a dead cross.

Rating: 2

RSI

The 70s were overbought and a divergence occurred, strongly suggesting an adjustment.

Rating: 1

Rating

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

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｜Edited by coindesk JAPAN
｜Image: Rakuten Wallet
｜Reprinted from: Rakuten Wallet