In this article, we will evaluate the Bitcoin market 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 using six typical types of technical analysis. The strength and weakness of the market is evaluated 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.
The overall score was 2.5, same as last time. The pattern is a triangle hold, with Bollinger suggesting a squeeze and flattening. The moving average is a dead cross, and Ichimoku is starting to see an improvement in the three roles. MACD and RSI continue to diverge, but there are no major adjustments, making it look strange.
Triangle holding continues. In fact, the resistance at $38,000 in dollar terms (5.65-5.75 million yen in yen prices) has broken out a little, but as the dollar/yen has fallen, it has bounced back in yen terms. As far as I can see, there is no sense of direction.
moving average line
The 9MA is flat, the 25MA is upward, and the two lines are getting closer, but they have barely reached a dead cross.
Ichimoku Kinko Hyo
If the trend remains flat, the lagging line may catch up with the candlestick and the three-way upturn may be resolved.
The band that had squeezed but was wide is now shrinking, making it clear that the uptrend has come to a halt and has entered a plateau.
Divergence continues, suggesting a market reversal.
The RSI also continues to diverge, or rather it is expanding, suggesting a correction.
*This article is a reprint of the Rakuten Wallet technical report.
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