Hello everyone. This analysis all about Hash Ribbons indicator.
Big shout-out to capriole_charles who is inventor of this indicator.
---What is Hash Ribbons?---
Hash Ribbons are 2 SMA (Simple Moving Average) Line that generates average of Hash power of BTC.
Slower one has 60 SMA - Faster one has 30 SMA
When this indicator made golden cross and appear "BUY" signal, IT WORKED %100 time in history.
When this indicator made death cross its shows us "CAPITULATION". If you use this signal as Selling signal its worked +50%. Which is very good.
But i want to focus on BUY signal side. Because it is appearing right now.
It appeared 10 times. And last one is as you see in 27.12.2019
Lets go history and what happened before when this indicator shows us "BUY"
I want to say something here. The chart above is sideways more than 6 months.
Still this indicator working very well. There is a possibility that we are in here at the beggining of this sideways right now.
It means potential sideways on the way and slow price actions, boring times possible. Still "+" signal.
As you see whenever this "BUY" signal appears, damage is done and no more price falling after that.
BUT still sideways is possible.
As conclusion;
Hash Ribbons only indicator that when miners are more looking for generating more BTC or not.
Miners are think that "if price will go up" or "mining is profitable right now" they are open their machine and generate BTC.
This LEAD bitcoin mining cost to the upside. (More miner means more hash power more difficulty level)
Like I said, more sideways can possible. But this indicator worked perfect until today.
It doesn't mean that it will work after today. No financial advice. Do your own research.
Thanks for reading. Like, share and follow for more. Thanks.
Big shout-out to capriole_charles who is inventor of this indicator.
---What is Hash Ribbons?---
Hash Ribbons are 2 SMA (Simple Moving Average) Line that generates average of Hash power of BTC.
Slower one has 60 SMA - Faster one has 30 SMA
When this indicator made golden cross and appear "BUY" signal, IT WORKED %100 time in history.
When this indicator made death cross its shows us "CAPITULATION". If you use this signal as Selling signal its worked +50%. Which is very good.
But i want to focus on BUY signal side. Because it is appearing right now.
It appeared 10 times. And last one is as you see in 27.12.2019
Lets go history and what happened before when this indicator shows us "BUY"
I want to say something here. The chart above is sideways more than 6 months.
Still this indicator working very well. There is a possibility that we are in here at the beggining of this sideways right now.
It means potential sideways on the way and slow price actions, boring times possible. Still "+" signal.
As you see whenever this "BUY" signal appears, damage is done and no more price falling after that.
BUT still sideways is possible.
As conclusion;
Hash Ribbons only indicator that when miners are more looking for generating more BTC or not.
Miners are think that "if price will go up" or "mining is profitable right now" they are open their machine and generate BTC.
This LEAD bitcoin mining cost to the upside. (More miner means more hash power more difficulty level)
Like I said, more sideways can possible. But this indicator worked perfect until today.
It doesn't mean that it will work after today. No financial advice. Do your own research.
Thanks for reading. Like, share and follow for more. Thanks.
