Joey Nafzger
The signal all whales are waiting for!
Published at:
16:23 – 08-20-2022
Today I will show a mega signal. What it is I will explain.
Hash ribbons, publicly available on TradingView, is an indicator made up of two simple moving averages (SMAs) of Bitcoin’s hash rate: the 30-day and the 60-day SMA. A downward cross of the short-term MA on the long-term MA marks the beginning of a capitulation period, whereas an upward cross spots its end.
As to be seen on the bottom of the Bitcoin chart (graph below) and it is really amazing indicator. The really important point it shows is we are in a capitulation phase.
The big thing is we need a cross for the red line displayed on Bitcoin chart as look at the Has ribbon indicator, over the grey line.
If we can see this cross maybe we will see the buy signal. When we look back history shows us it is a good indicator. Yet nothing works a 100%, but if you have a lot of indicators, if you have a lot of instruments to watch, you can maybe try to catch this point to make a good long position. (not a financial advice, yet it is possible.
It is possible we saw a bottom at 20k and it is possible to see a nice break out of the nice falling broadening wedge.
The falling broadening wedge is measured to be a reversal pattern and is bullish. Although the pattern is typically a reversal signal, a continuation of the downtrend is still possible.
Of course a falling broadening wedge is bullish. What do we need? We need a breakout. Over the red line as shown on the Bitcoin chart (graph above) and after this we will maybe see a new possible ATH (all time high) not impossible for MiD92 Crypto Division.
I know it is only TA (technical analysis) and the world is against this one. Everything what is happening in the world, everything is looking really bad, but if we are looking at this TA, it is not looking so bad. We have a broadening falling wedge. When we look a bit closer we see it, we have a broadening rising wedge. Which is a bearing pattern.
So maybe a nice buy signal with the hash ribbons after this we can go to the moon with the moonboys. Never ever FOMO!
Do your research or ask for advice when you are not certain of what you are doing.