I'll update briefly, nothing lengthy.
First of all, BTC is very active and I hope $60,000 is the final price we will see, followed by strong BTC pumps.
WHY?
The 1-hour technical indicator is very good when the BTC price rises above the Ichimoku cloud.
Let me explain a bit about the technical factors behind my statement.
When the price breaks above the Ichimoku cloud while both MACD and RSI are trending upwards, it indicates that the supply in the equilibrium zone has been absorbed, demand is increasing actively, and buyers are willing to pay higher prices, reflecting a clear shift from equilibrium to supply-demand imbalance in a positive direction.
I can give examples from previous times.
The price breaks above the Ichimoku cloud + moves away from the EMA 200, and when the price drops, the chart starts to go below the Ichimoku cloud + the RSI and MACD indicators.
RSI and MACD are rising strongly, and when the price drops, MACD also decreases.
Although the price breaking above the Ichimoku cloud along with MACD and RSI trending upwards often reflects an improvement in supply-demand, this signal does not always open up a strong bullish cycle, as the crypto market is heavily influenced by sensational news, short-term speculative cash flows, and FOMO/FUD psychology, causing demand to potentially explode in a short time and then quickly weaken, leading to fake breaks instead of a sustainable uptrend.
But it's really quite interesting and I want to share it with you.
Have a nice evening 😂
⚠️ This is a personal opinion, not investment advice. Traders should remember to self-check and manage risks.