Is Technical Analysis Viable In the Cryptocurrency Market?
Year: 2023
Type: dissertation
Abstract: This thesis examines the viability of technical analysis in the cryptocurrency\nmarket using two commonly used oscillators. The testing period extends from\nthe inception of Bitcoin, XRP, and Ethereum until December 31, 2022. Six\nRelative Strength Index rules and three Moving Average Convergence Divergence\nrules are tested on four-hourly and daily returns. The methodology is\nheavily based on the influential paper by Brock et al. (1992). Our findings\nindicate that the examined trading strategies can generate occasional profits\nbut do not outperform the buy-and-hold strategy when considering transaction\ncosts.
Authors: Molnes, Emil, Wilberg, Mathias
Language: English
Subfield: Finance
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W6991966394