Bitcoin Traders : Hash Ribbons Signal Re-Seen. Hash Ribbons, one of the popular indicators used by Bitcoin analysts, is currently giving a signal in favor of the bulls.
Bitcoin price, which is currently at the level of 9 thousand 200 dollars, has been moving in the same region for a while. The next stop of Bitcoin, which has been stuck in the range of 9 thousand-10 thousand dollars for almost 3 months, is the subject of great curiosity.
Some cryptocurrency analysts think Bitcoin may be on the rise again in the future . What makes them think this way is that the Hash Ribbons signal has been seen again.
The Hash Ribbons indicator was created by combining the short-term moving average of the hash rate in the Bitcoin network with the long-term moving average. Analysts based on this indicator think that the bullish signal is lit when the short term moving average exceeds the long term .
This indicator has worked for many analysts so far. Because after Hash Ribbons gave “buy signal” on dates like 2016, Bitcoin price started to increase over time. As can be seen in the graphic below, the bullish signals given by this indicator were generally correct.
Moon Capital , one of the cryptocurrency reviewers , recently made a statement to delight Bitcoin investors. Moon Capital announced that the buy signal on the Hash Ribbons indicator has been seen again with the sharing made on its social media account.
This announcement of his own means that the price of Bitcoin may go up again . But at this point, of course, it should be reminded that the indicators are not certain .
Hash Ribbons have crossed.
Buy signal revealed.
$288,000 Bitcoin incoming. pic.twitter.com/QmSrni0kWv
— Moon Capital 🔑 (@Moon__Capital) July 12, 2020