follow_bitcoin

BTC closing price divided by Hashrate

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This indicator uses the following formula:

BTC Price / BTC Hash Rate

Onchain data has in the past been used successfully to correlate with future price action and sentiment. This indicator can be used to see when the price is oversold / overbought in relation to the Hash rate.

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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