BTC: Hash Ribbons Buy Signal. What can be derived from this?
Updated
Guys, support this idea by clicking the LIKE button, please. Thank you!
Let’s take a look at the performance of this indicator in the past
May & June 2012
Bitcoin went straight up after the signal in May. A 10% decline after the signal in June and then 100% gain
February 2013
BTC had a monster pump after the signal (I do not think that this pump will repeat this time)
January - June 2015
In 2015 Hash Ribbons gave us three Buy signals. After the first one BTC firstly dropped by 11% and then went up by 37%. However the second Buy signal is of particular interest, because BTC did barely nothing but small fluctuations after the signal. The third one was a classic go-straight-up-after-the-signal.
August 2016
In August 2016, after the halving in July, Bitcoin pumped up right after the Hash Ribbons Buy signal and doubled in price in 4 months
January 2019
Hash Ribbons Buy signal in January 2019 led to a small decline (-8%) before a moonshot of +283%
December 2019
After the buy signal BTC dropped by 5% before a 45% gain
In April 2020 BTC moved up right after the Buy signal and topped after a 34% rise
Now in July we again got a Hash Ribbons Buy signal. Based on the history of this indicator, we can expect BTC finally break through the declining resistance trendline coming from 20k top. But hold your horses, BTC can still pull back by 5-15% after the signal (in this case we would finally hit the 200-Day MA)
For a mid-term long confirmation we need a break above 10k. For aggressive traders out there you could jump in above 9.5k at the break of the sequence of lower highs.
Regarding the upside move, let’s be conservative and measure 30% up from the signal. That will put us at 12k. So, either way, we are talking about a pretty Big Move.
Let’s take a look at Bollinger Bands Width (in other words, how tight the Bollinger Bands are right now) and compare it to what we have in the past
We see that Bollinger Bands Width is completely crushed right now suggesting that a volatility spike will follow soon while Hash Ribbons Buy signal has just appeared.
What do you think about it? Share your thoughts in the comments!
If you like the idea, please, hit the Like button and subscribe to the profile in order not to miss our updates
The information given is never financial advice. Always do your own research
Let’s take a look at the performance of this indicator in the past
May & June 2012
Bitcoin went straight up after the signal in May. A 10% decline after the signal in June and then 100% gain
February 2013
BTC had a monster pump after the signal (I do not think that this pump will repeat this time)
January - June 2015
In 2015 Hash Ribbons gave us three Buy signals. After the first one BTC firstly dropped by 11% and then went up by 37%. However the second Buy signal is of particular interest, because BTC did barely nothing but small fluctuations after the signal. The third one was a classic go-straight-up-after-the-signal.
August 2016
In August 2016, after the halving in July, Bitcoin pumped up right after the Hash Ribbons Buy signal and doubled in price in 4 months
January 2019
Hash Ribbons Buy signal in January 2019 led to a small decline (-8%) before a moonshot of +283%
December 2019
After the buy signal BTC dropped by 5% before a 45% gain
In April 2020 BTC moved up right after the Buy signal and topped after a 34% rise
Now in July we again got a Hash Ribbons Buy signal. Based on the history of this indicator, we can expect BTC finally break through the declining resistance trendline coming from 20k top. But hold your horses, BTC can still pull back by 5-15% after the signal (in this case we would finally hit the 200-Day MA)
For a mid-term long confirmation we need a break above 10k. For aggressive traders out there you could jump in above 9.5k at the break of the sequence of lower highs.
Regarding the upside move, let’s be conservative and measure 30% up from the signal. That will put us at 12k. So, either way, we are talking about a pretty Big Move.
Let’s take a look at Bollinger Bands Width (in other words, how tight the Bollinger Bands are right now) and compare it to what we have in the past
We see that Bollinger Bands Width is completely crushed right now suggesting that a volatility spike will follow soon while Hash Ribbons Buy signal has just appeared.
What do you think about it? Share your thoughts in the comments!
If you like the idea, please, hit the Like button and subscribe to the profile in order not to miss our updates
The information given is never financial advice. Always do your own research
Note
Target Reached! Profit 30% without leverage 
🥇 Best Exchange for Leveraged Trading is ByBit
🚀💰 REGISTER HERE AND GET UP TO $30,000 WELCOME BONUS -> partner.bybit.com/b/cryptobullet
Twitter link: twitter.com/CryptoBullet1
🚀💰 REGISTER HERE AND GET UP TO $30,000 WELCOME BONUS -> partner.bybit.com/b/cryptobullet
Twitter link: twitter.com/CryptoBullet1
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.