Technical Analysis Using the Matrix Method (2025/7/11) Is the Yen-Based All-Time High a Milestone? What Are the Upper Price Targets? 【Rakuten Wallet】 | CoinDesk JAPAN

In this paper, the Bitcoin market will be evaluated using 6 representative types of Technical Analysis: ① Pattern Analysis ② Moving Averages (9MA, 25MA) ③ Ichimoku Kinko Hyo ④ Bollinger Bands ⑤ MACD ⑥ RSI, assessed on a 5-point scale (5→1: Strong→Weak), and the average will be used to evaluate the market strength. I believe that fixed-point observation and objectivity are important in Technical Analysis. By combining multiple representative analytical methods, the aim is to eliminate subjectivity and enhance accuracy.

Summary

The overall rating is 4.5. Last time, it was difficult to determine whether it would "break through here and aim for an all-time high" or "be rebounded at the upper limit of the range and make another round within the range," but I mentioned that "break above the range". The market has beautifully broken through and reached 17 million yen, coming one step closer to the all-time high of 17.35 million yen.

The band walk of the Bollinger Bands, which was pointed out last time, is also clearly occurring, and the trend indicators are all at 5. The RSI has entered the 70s, but this momentum may stay above 70 for 1-2 weeks.

It seems there is still room for upside, with the next targets being a range double return of 17.9 million yen and a double return of 19.6 million yen from the rise since April.

Please note that we are using the BTCJPY chart from the Rakuten Wallet margin trading platform here. You can refer to the BTCUSD chart here (the link leads to TradingView's site).

Pattern Analysis

1425 million yen to 1610 million yen range has broken, and the battle is on. The target for the upside is 1790 million yen, which is double the range. Furthermore, the next target will be 1960 million yen, which adds the increase of 535 million yen from the April low of 1075 million yen to the lower limit of the range at 1425 million yen. Is the historical highest value of 1735 million yen in yen terms just a passing point?

Rating: 5

Moving Average

Golden Cross, both lines are upward and the slope is steep.

Rating: 5

Ichimoku Kinko Hyo

Breaking above the cloud's upper limit, the buy signal for the three roles has lit up. The baseline is also trending upwards, indicating a very strong signal.

Rating: 5

Bollinger Bands

Previously, I mentioned that "expansion and band walk seem to be starting," and indeed, the band walk occurred beautifully.

Rating: 5

MACD

Golden Cross, both lines upward.

Rating: 5

RSI

70 is in the overbought zone. However, in the case of BTC, if it does not bounce back at 70, there is a tendency to stay around the 70s for a while, and it cannot be said that it will immediately pull back.

Score: 2

Evaluation

*This article is a reprint of the Technical Analysis report of "Rakuten Wallet". *This article provides information for reference in investment decisions, but it is not intended for stock recommendations or solicitation of investment activities. Additionally, it does not conduct investment solicitation or definitive predictions as Rakuten Wallet. *The information provided may contain future projections; however, these are personal opinions of the sender and do not guarantee accuracy or reliability. We ask that you make your own final investment decisions.

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