Technical Analysis by Matrix Method (June 2, 2023) Bitcoin’s drop below the range is not as bad as expected: Rakuten Wallet | coindesk JAPAN | Coindesk Japan

In this paper, 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

The overall score is 2.5, which is a little weak. Despite breaking below the Ichimoku’s cloud, other indicators are not so bad. A downward trend within a range. Whether it will be supported at the lower end of the range next time or will break below this time depends on how far other indicators follow.

pattern analysis

Continuation of trading within the range of parallel channels. If I dare say, it is below the half-price mark of 3.75 million yen, which rose from 3.5 million yen to 4 million yen, so it is expected that the price will go to check the lower limit of the range.

Rating: 2

moving average

Golden Cross on May 28th. The rise of that amount has stopped, but the moving average line has no sense of direction.

Rating: 3

Ichimoku Kinko Hyo

The break above the clouds ended in failure, and now the break below. The lagging line is slipping below the candlestick, but the conversion line is barely above the reference line, and the sell signal for the three-way reversal is not lit.

Rating: 2

bollinger bands

Breaking out of the band and being denied a band walk to the center of the band. It looks like an upward trend has been denied, but there is no downward trend.

Rating: 3

MACD

One step before Dead Cross.

Rating: 2

RSI

No sense of direction at 40 units.

Rating: 3

grade

*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