BTC LONG
Sorry the chart image isn't really readable, but this is an analysis of BITCOIN and HASH RIBBONS indicator.
Hash ribbons concept in brief:
Hash rate determines amount of BTC mined. The higher the hash rate, the more mined. The greater the difficulty of BTC mining, the less BTC mined. With market efficiency theory, miners will mine when profitable and mine less when less profitable. HENCE, hash rate is a LEADING indicator of BTC value (price).
In HASH RIBBONS INDICATOR, the 30 day and 60 day hash rate are used as LEADING INDICATORS for BTC price action.
Grey dots = Less mining
Green dots = picking up steam (With brighter green as more steam).
Blue dots = BUY signal.
Data (using DAILY chart):
13 grey bubbles
7 lime green bubbles
10 blue bubbles
Consolidating some bubbles that occur within 1-2 weeks of one another, we have:
9 grey bubbles
6 lime bubbles
8 blue bubbles
currently we have grey bubble (4/24/21) followed by a lime bubble (5/17/21) 23 days later. (Historically this happens on avg of 26 day interval). Historically on avg, the interval from lime bubble to blue bubble is 25 days, which would put the next PROJECTED BLUE bubble at 6/11/21 (FRIDAY). Buy signal on indicator occurs on next stock trading day (Next day unless friday then goes to monday). [Yes i know BTC trades 24/7 - i'm not sure why the buy signal indicator works this way. I think b/c the hash rate data comes from TradingView and they may not update over weekends (?)]. Run up from Blue dot to Blue dot is on average 232% with PROJECTED PRICE AT BUY SIGNAL of around 45k. (Obviously this will have a huge standard dev given the exponential growth phase BTC is in). After hitting BLUE bubble, the next grey bubble occurs on average in 250 days and the next blue bubble in 310 days.
When to get out is a difficult question. (The growth has been exponential! Why get out!?!?!??!).
Hash ribbons concept in brief:
Hash rate determines amount of BTC mined. The higher the hash rate, the more mined. The greater the difficulty of BTC mining, the less BTC mined. With market efficiency theory, miners will mine when profitable and mine less when less profitable. HENCE, hash rate is a LEADING indicator of BTC value (price).
In HASH RIBBONS INDICATOR, the 30 day and 60 day hash rate are used as LEADING INDICATORS for BTC price action.
Grey dots = Less mining
Green dots = picking up steam (With brighter green as more steam).
Blue dots = BUY signal.
Data (using DAILY chart):
13 grey bubbles
7 lime green bubbles
10 blue bubbles
Consolidating some bubbles that occur within 1-2 weeks of one another, we have:
9 grey bubbles
6 lime bubbles
8 blue bubbles
currently we have grey bubble (4/24/21) followed by a lime bubble (5/17/21) 23 days later. (Historically this happens on avg of 26 day interval). Historically on avg, the interval from lime bubble to blue bubble is 25 days, which would put the next PROJECTED BLUE bubble at 6/11/21 (FRIDAY). Buy signal on indicator occurs on next stock trading day (Next day unless friday then goes to monday). [Yes i know BTC trades 24/7 - i'm not sure why the buy signal indicator works this way. I think b/c the hash rate data comes from TradingView and they may not update over weekends (?)]. Run up from Blue dot to Blue dot is on average 232% with PROJECTED PRICE AT BUY SIGNAL of around 45k. (Obviously this will have a huge standard dev given the exponential growth phase BTC is in). After hitting BLUE bubble, the next grey bubble occurs on average in 250 days and the next blue bubble in 310 days.
When to get out is a difficult question. (The growth has been exponential! Why get out!?!?!??!).
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