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”.
summary
All 3, no sense of direction has come out splendidly. Parallel channel, Ichimoku cloud, supported by Bollinger band lower bound, half-price return, upper bound held down by cloud upper bound. The moving average line is also flat. Do you have an image that you will save energy by squabbling for a while and then move toward the end of the month when the Ichimoku cloud will thin?
pattern analysis
The range trade continues supported by the lower limit of 3.5 million yen introduced last time. After confirming the lower end of the range, the pair began to rebound, but the upper end was held back by a half-price return.
Rating: 3
moving average
After forming a dead cross around May 9, the bear market has come full circle, and both moving averages are flat with no sense of direction.
Rating: 3
Ichimoku Kinko Hyo
Buying signs of 3-way turnaround disappear, candlesticks enter the cloud, suggesting a struggle. Although it is likely to move upward, the upper limit of the cloud near 3.9 million yen will be a resistance. The reference line is also flat and there is no sense of direction. The stock is now accumulating energy through a struggle, and the market will move up or down near the end of the month when the clouds will thin.
Rating: 3
bollinger bands
Although it is supported and rebounded at the lower end of the band, the sense of direction is fading near the center of the band.
Rating: 3
MACD
It looks like the golden cross is close, but both the MACD and the signal are flat, and there is no clear sense of direction.
Rating: 3
RSI
Neutral around 50.
Rating: 3
grade
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.
*The information posted may include future forecasts, but these are the views of the individual sender, and we do not guarantee their accuracy or reliability. Please make your own final investment decisions.
| Editing: coindesk JAPAN
｜Image: Rakuten Wallet
｜Reprinted from: Rakuten Wallet
