capriole_charles

We Are Skirting on the Edges of a Bitcoin Miner Capitulation

Long
BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
Bitcoin Hash Ribbons are extremely close to a potential Miner Capitulation.

Should a Capitulation occur (crossover of the ribbons), it is not the time to be buying Bitcoin .
The best times to buy Bitcoin is on Hash Rate recovery, as identified by this indicator.

For now, we are "still in the green", and Bitcoin's price may have already bottomed.
However, until we see continued Hash Rate growth, and separation of these Ribbons, we cannot be sure.

This is one of the most important indicators to be watching right now regarding Bitcoin's health… as when miners hurt, the market will hurt too.
Comment: No inversion yet!
Comment: FYI - notes on current situation, and likelyhood of capitulation:
Comment:
Comment: Miner capitulation just confirmed.
Trade closed: target reached

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