The Hash Ribbons is not an original indicator of mine, but one I coded based on many you can find on the trading view platform and developed by the community.
The 'Hash ribbons' indictor looks at the 30-day and 60-day moving average of the Bitcoin hash rate, which is used to show / approximate when sufficient miner capitulation has occurred (shown as a blue buy signal). It approximates periods where Bitcoin miners are in distress (cost of running mining rigs exceed return) and suggest BTC miners may be capitulating.
The relevance at this point of time is the hash ribbons are now flashing a start of a capitulation region.
Read the bellow articles for more information has there has been a lot set on this indicator.
* www.lookintobitcoin....charts/hash-ribbons/
* bitcoinmagazine.com/...s-a-market-indicator
The 'Hash ribbons' indictor looks at the 30-day and 60-day moving average of the Bitcoin hash rate, which is used to show / approximate when sufficient miner capitulation has occurred (shown as a blue buy signal). It approximates periods where Bitcoin miners are in distress (cost of running mining rigs exceed return) and suggest BTC miners may be capitulating.
The relevance at this point of time is the hash ribbons are now flashing a start of a capitulation region.
Read the bellow articles for more information has there has been a lot set on this indicator.
* www.lookintobitcoin....charts/hash-ribbons/
* bitcoinmagazine.com/...s-a-market-indicator