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Author DMM Bitcoin Market Report
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・Has the box market that has continued since the end of November also ended?
XLMJPY daily deal (created from DMM Bitcoin trading tool)
Stellar Rumen (XLMJPY) plunged around 25% in three business days starting February 21. Although it has been volatile since the end of last year, it has been constant, but this decline may not necessarily be a squeeze.
Let’s take a look at the price movement of XLMJPY.XLMJPY has risen three levels since the end of November last year.
The first raise was taken by XRP and will start on November 16. On November 17, the next day, when the 12,627 yen price range, which had been the highest since the beginning of the year (yellow arrow), broke, it continued to grow and reached the 23 yen level for the fourth consecutive rise. . After that, the XRP warming sensation receded and stopped, resulting in a smooth development.On the other hand, the lower price was limited and was reluctant to go down to the 12 yen level, which was the highest price before the sharp rise (blue arrow).
(This “market price that cannot exceed the high price after the increase, but the high price before the increase is supported” is called the cash zone market, and it is effective to buy and enter a line close to before the increase as shown by the blue arrow. It may be a strategy)
The same happened with the 1/6 break of the new year, which surpassed the previous high of 23.6 yen, stalled 40 yen earlier and then fell.It was a cash zone market that was reluctant to go down to the 23 yen level.
Let’s take a look at the third break. XLM has been in an uptrend since it hit 23 yen on 1/27, and has continued to grow since it hit the 40 yen level, which was the previous high on 2/7. After hitting a high of 62 yen on 2/13, the rally stopped. At this point, the market price in the 39-62 yen box area was assumed, but after that, due to the 2/21 bounce, it fell below the previous high of 39 yen with a lower beard and it closed at 2/22 the next day (red arrow).It looks like this time it was not a winning market if you bought it at the lower limit of the checkout area.
