Bullish and bearish mid-term arguments.
Bullish signal:
We have picked up a lot of discussion on the Hash Ribbons indicator printing a buy signal on the daily time frame and that it means that the macro bottom for this cycle is in. It is built on moving averages based on the hash rate chart to be used together with the price chart. We believe that this is one of the more precise buy indicators available. However, we keep in mind that it did flash buy before the COVID-19 crash from $10.000 to $4.000, and also in August 2021 leading up to our top in November 2021 (a 79% crash followed). However, the buy print is definitely a bullish signal which tells us that price is about to trend upward, but it does not mean that these prices will never be seen again.
Vortex indicator:
A fairly new indicator invented in 2010. The vortex indicator is used to identify the end of a trend in addition to the beginning of a new trend. As you can see on the chart, positive peaks of the red trend line indicates that BTC has bottomed on a macro scale. This has so far been a fool-proof indicator for BTC on a macro scale. So far the vortex indicator has yet to peak on the bearish momentum.
Conclusion:
We remain bearish in terms of long-term BTC entry and stick to our manifesto as posted in the previous idea. A buy signal on the Hash Ribbons indicator may simply imply that price is headed for a retest of the mid-term moving averages around $28000. If it is rejected or not remains to see, but we are leaning on our theory that markets are not completely flushed to facilitate the start of a new cycle. Our projection is indicated with the green fractal.
We underline that all market participation is a calculated risk, and that one should never be sure, but confident.
Thank you,
We have picked up a lot of discussion on the Hash Ribbons indicator printing a buy signal on the daily time frame and that it means that the macro bottom for this cycle is in. It is built on moving averages based on the hash rate chart to be used together with the price chart. We believe that this is one of the more precise buy indicators available. However, we keep in mind that it did flash buy before the COVID-19 crash from $10.000 to $4.000, and also in August 2021 leading up to our top in November 2021 (a 79% crash followed). However, the buy print is definitely a bullish signal which tells us that price is about to trend upward, but it does not mean that these prices will never be seen again.
Vortex indicator:
A fairly new indicator invented in 2010. The vortex indicator is used to identify the end of a trend in addition to the beginning of a new trend. As you can see on the chart, positive peaks of the red trend line indicates that BTC has bottomed on a macro scale. This has so far been a fool-proof indicator for BTC on a macro scale. So far the vortex indicator has yet to peak on the bearish momentum.
Conclusion:
We remain bearish in terms of long-term BTC entry and stick to our manifesto as posted in the previous idea. A buy signal on the Hash Ribbons indicator may simply imply that price is headed for a retest of the mid-term moving averages around $28000. If it is rejected or not remains to see, but we are leaning on our theory that markets are not completely flushed to facilitate the start of a new cycle. Our projection is indicated with the green fractal.
We underline that all market participation is a calculated risk, and that one should never be sure, but confident.
Thank you,
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