The Hash Ribbons indicator has become very popular lately so I wanted to show how accurate it has been historically. The buy signal came on again last week, which is why there's so much buzz about this.
Note that there is no consistency in the time frames between the hash ribbon buy signal and the actual pumps.
The "BTC closing price divided by hash rate" provides a similar output, however I've noticed that it signals before pumps when the ribbon indicator does not. Update to come later on that
Note that there is no consistency in the time frames between the hash ribbon buy signal and the actual pumps.
The "BTC closing price divided by hash rate" provides a similar output, however I've noticed that it signals before pumps when the ribbon indicator does not. Update to come later on that
Comment:
Volume of pumps following hash ribbon signals - follows an exponential trendline. If the trend continues, pump #5 should be around $60bil
Comment:
shoutout to pinescript for sucking!