Did you buy $BTC?
The Bitcoin Hash Ribbon Buy (indicator released October 2019) was exactly one month ago today.
Let's check in on performance to date:
- Max downdraw: -5%
- Max Returns: +26%
So far, all within the normal historical range.
$6,000s is the break even cost of mining Bitcoin. Will miners dump? According to Hash Ribbons 30/60 Day Crossover and Hash Rate dropping below 200 Day Signal Line... this looks uncomfortable. 😬 One scenario is that miners may have stopped supporting the network to save on electricity and will just HODL their coins up to the Halvening (cost of mining after that...
If you're long term on cryptos this is one of the worst places to sell because it's sitting right on top of the trend line defined by historical miner capitulation.
People waiting for 3k are going to be disappointed. This line also expects the support region to be at the old all time high in April 2021 which means it will probably reach and exceed the old all...
The bullish case is here:
VPVR Point of Control, since $3K in September 2017: $8,188
Price has closed for two consecutive weeks above this PoC
Hash Ribbons buy signal - December 2019
1 & 2 Year MA bull-cross - January 2019
Price above MA Ribbons - January 2019
MACD bull-coss on Weekly - January 2019
The is continued analysis from the below, looking at...
Miner Capitulation / Hash Ribbons has signaled a buy on daily suggesting that hash rate is stabilizing. Hash ribbons flipped a few days ago and today the SMA 10 crossed over the SMA 20 which is the secondary condition for a long.
Looking at a long term scope, this strategy was supposed to beat even an early buy & hold. Mostly by reducing drawdowns significantly....
The Hash Ribbons indicator confirmed it's 10th buy signal in 9 years yesterday on the Daily chart at $7,245. Historically, this indicator has given the best opportunities for long-term investment during accumulation phases.
The 3 Day chart is also signalling a buy, confirmation would arrive tomorrow with the close of the current candle. The Weekly chart however,...
The chart speaks for itself. The extrapoled price comes from the "2018 miner capitulation" that caused the price to drop 50%. Will we go back to $3,800? Unlikely, but clearly this is possible if the capitulation is as aggressive as 2018. Notably the VPVR is supporting the price target of $3,800, as is the extrapolation, with forecasted price for the block halving...