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Analyst: Bitcoin's Hash Ribbon Indicator Is Forming A Buy Signal

Mary Liu

Summary: According to a tweet posted by on-chain data analyst Rafael Schultze-Kraft today, Bitcoin's Hash Ribbon indicator is forming a buy signal. The analyst explained that when the 30-day moving average of the indicator exceeds the 60-day moving average and Bitcoin price momentum is positive, the indicator forms a buying point.  Hash Ribbon indicator is to ...

According to a tweet posted by on-chain data analyst Rafael Schultze-Kraft today, Bitcoin's Hash Ribbon indicator is forming a buy signal. The analyst explained that when the 30-day moving average of the indicator exceeds the 60-day moving average and Bitcoin price momentum is positive, the indicator forms a buying point. 

Hash Ribbon indicator is to show the changing trend of Bitcoin hash rate and the health of the Bitcoin mining ecosystem by quantifying the relative growth rate of hash rate. The last time the indicator issued a buy signal was July this year.

By Mary Liu

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