The Hash Ribbons indicator on the daily timeframe gave a BUY signal for BTC.

We warn you, as promised. Prior to this, on June 18, the indicator signaled the end of the capitulation of#BTCminers on the daily timeframe.

Now it is important to wait for a confirmation signal to buy on the weekly timeframe. Statistically, more often than not such signals worked perfectly, especially at a distance. Bad news for bears. The trend, at least in the medium term, is against them.

There were long squeezes on the daily timeframe after the BUY signal. But not often. And this was associated with “black swans” or manipulations. For example, the “corona” dump in the spring of 2020, the#FTXscam in the fall of 2022, the manipulation of two fake news (on SpaceX and Evergrande) in August 2023. In any case, after that there was a steady uptrend.

On the weekly time frame the error is smaller. During menstruation - even less.

But as usually happens, while waiting for additional confirmations, you can miss the optimal entry point. It is clear that the Hash Ribbons signal is more about investing than about trading. Especially trading with shoulders.

Let us remind you that Hash Ribbons is an indicator developed by crypto analyst Charles Edwards. Essentially, this is a pair of moving averages of the#Bitcoinnetwork hashrate and mining difficulty, which can indicate the time of capitulation of miners and their inability to do business in the black. And if miners are out of the market, then the pressure from sellers is reduced.

The green signal (dot) and the blue dot with the word BUY on the indicator both signal potentially favorable moments to buy #BTC, but they represent different stages of the process associated with hashrate and miner capitulation.

Briefly:

- Green dot: An early indicator that the capitulation of miners has ended and the hashrate has begun to recover.

- Blue dot labeled BUY: A confirmed buy signal indicating a sustained improvement in the market and confirmation of favorable conditions for entering a position.

As you can see, there is not even a green dot on the weekly TF yet, but its appearance is close.