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The indicator of the hash ribbon – A metric on a chain designed to identify the periods of capitulation of minors and subsequent recovery – just published a bull’s bitcoin signal. Several well -known figures in the BTC community have highlighted the event through articles on X, suggesting that the signal could mark a turning point on the market.
The ultimate bitcoin purchase signal?
Introduced for the first time by the chain analyst Charles EdwardsThe hash line is based on two mobile averages (generally the average of 30 days and 60 days of the bitcoin hash rate) to determine when the difficulty of extraction and the hash power can capitulate And started recovering. Traditionally, a signal “Buy” is triggered once the 30-day MA decisively crosses above the 60-day MA, indicating that any distress period led by a minor can be completed.
According to historical data, the main purchase signals have frequently appeared after net market slowdowns, sometimes coinciding with the lower cycle. Although the indicator is not infallible, it properly identified several previous stockings in the history of Bitcoin, especially in 2011-2012, during the depths of the 2014-2015 bear market, approximately $ 3,000 from the end of 2018 at the end of 2018, and near the region from $ 29,000 to mid-2010.
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Shortly after triggering the last crossover, the popular commentator Bitcoin archive poster: “Bitcoin Hash -Ribbon Flashs Buy Signal – This is one of the most reliable purchasing indicators. Significant price gains have followed 7 of the last 7 times, this indicator has been triggered.”
Edwards, the creator of the hash ribbon, has retweeted this post, a decision that many interpreted as an approval of the analysis. Adding to the discussion, a user noted: “The signal only flashed 20 times in the history of Bitcoin. 17/20 times, the most recent local bottom has never been raped with a fence. We can sweep the stockings, even the wicks below, but 85% of the time on the bottom and it is only from here. ”
Meanwhile, Jamie Coutts, Real Vision chief analyst, stressed The importance of monitoring several measures on the chain, even if the hatching ribbon flashes up. Although chain activity remains slow, metrics with the highest historic correlation with future prices performance are a flashing green. ”
In particular, many chain signals have not reached the previous cycle levels even when the Bitcoin price reached nearly $ 110,000 in mid-January. Traditional technical signals have not reached peaks from the past.
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Tony Severino, a technician of the approved market (CMT) and research manager at Newsbtc, recently offbeat From a bullish position to a bitcoin position. Severino, who is also the founder of Coinchartist.io, argues that the action of bitcoin prices and chain metrics no longer support common bruises in past cycles.
“The idea that Bitcoin must reach the extremes on indicators is a dangerous way of thinking. Higher pricing and lower summits on an oscillator are a lower signal,” said Severino recently.
Severino warn against expectations Bitcoin to reproduce your historic scheme to push certain motion quantity indicators (for example, RSI or MacD) at extreme levels. Instead, he notes that divergences – where the price climbs to new heights but that technical indicators do not confirm these heights – can exhaust the signal market. “The tools I use are fucked, end point,” he said via X.
At the time of the press, BTC exchanged $ 87,373.
Star image created with dall.e, tradingView.com graphic
