Light up the hash ribbon (BuySign)

The hash ribbon, which is a powerful BuySign that appears once every 15 months on average, was lit up the other day.

The lighting this time is due to the daily chart, and the weekly hash ribbon lighting is just around the corner.

The hash ribbon is an indicator showing the activity status of Bitcoin miners, and it lights up when 50MA exceeds 200MA.

This BuySigh has a high degree of reliability, and was once known as an undefeated signal, but during the Bitcoin crash in 2022, it hit a low price after lighting up.

Range expansion was formed in 2016 and 2019 after lighting, and there was a time lag until it began to rise.

It is not the kind where prices rise immediately immediately after lighting, but the track record that has suggested bottoming out in many cases cannot be overlooked.

Recently, an increase of 2.7 times was seen in 1 year after the hash ribbon was lit in January 2023, making it a useful indicator for Bitcoin investors.

It's not the strongest signal that will necessarily rise, but since it's a very strong BuySign, I want to keep a close eye on future price movements.