🔥The Hash Ribbons indicator tracks the activity of miners #Bitcoin . When this indicator gradually disappears (pink car) it means miners are gradually shutting down.
This is usually a good signal for Bitcoin price. Because after this indicator ends, a new bull cycle will usually begin. We saw this pattern in January and July 2023.
And now in 2024, the Hash Ribbons indicator has appeared showing that miners are gradually "surrendering". According to previous experience, if history repeats itself, this is a sign that a new Bitcoin price increase will take place soon.
