The Hash Ribbons indicator gave a BUY signal for BTC already on the weekly time frame. They promised to let us know as soon as this happened. The week closed (and with a very bullish candle), the indicator signaled an alert.

Let us remind you that on the daily timeframe the signal appeared on July 24th.

After this, convinced and chronic bears can only sympathize.

Since the beginning of 2019, in 8 out of 8 cases, after the appearance of this signal on this TF, the asset was followed by stable growth in the medium term. True, at the same time, twice at first there were manipulative takedowns:

- Winter-spring 2020, on the “corona” dump. But the removal was only two months after the signal. Since the signal, the#BTCrate has grown by 44%, giving the opportunity not only to move the stop to breakeven, but also to make good money.

- In August 2023, on two fake news (on SpaceX and Evergrande). There was exclusively manipulation with the participation of top media. And after a correction of about -15%, after 2 months the#BTCrate began to grow by +174%, to the new ATH.

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.

Interestingly, the appearance of a green dot on the weekly timeframe was forced this time. This, as can be seen in the graph, has already happened in the past.