This post is an extension of my last one, so if you haven't read my last idea take a look at it first and then come back to this one for a better understanding.
We have a buy signal on the Hash Buy indicator and halving is in 137 days.
I went through the charts to test the significance of the hash buy signal.
I looked at every signal in the history of BTC and this is what I found:
- We got 9 buy signals in total
- All of them were followed by an 200% increase in price
- On average it took 255.44 days for the price of BTC to increase by 200% after we got this buy signal
In the following we will take a look at all the signals:
As we can see it can get very messy. This are the first 4 buy signals until we reached a new ATH .
The orange numbers are the number of days until BTC price increased by 200% after a Hash buy signal.
Another thing that is interesting to note is that one Hash buy signal doesn't mean an instant 200% increase and there can be multiple signals until the true rally begins.
This are again 4 signals until we reached the top of the last cycle.
And we see again most of the time we see more sideways movement and more Hash buy signals before we start to move up.
And this is now. The last signal nicely picked the bottom for BTC .
Currently, we have a confirmed Hash buy signal which means we should see a 200% increase of BTC price from today.
This would put us at $21,192.05 which is slightly higher than the old ATH at $19,730
This also matches up with the upcoming halving in 137 days, because BTC price usually goes parabolic after the halving.