Bitcoin Flips ‘Macro Bullish’ in the middle of the first hash ribbon buy signal in 8 months
Bitcoin (Btc) Businessmen celebrate as one of the well-known BTC price measurements finally flipped Bullish again.
The famous Hash ribbon The tool, created by the volume of Bitcoin and Digital Asset Fund Capriole Investments, has printed a first signal purchase at a “macro bullish” event.
Hash Ribbon Sparks $ 100,000 Q2 BTC Price target
Bitcoin miners are set to make a return because the hash ribbon metric marked the end of their Latest phase of “capitulation”.
The hash ribbon monitors potential long -term purchase opportunities using hashrate; When the miner’s profitability is at risk and the network participants retired, it forms a capitulation which leads to long -term prices.
They are monitored using two moving averages of the hashrate: the 30-day and 60 days. Capitulations correspond to the former crossing under the latter, while the upside is true for purchase signals.
According to the data from Cointelegraph Markets Pro and Tradingviewthe hash ribbon placed on its latest purchase signal on March 24. It will be found in both the sun -and weekly time.
“It’s Macro Bullish,” Crypto’s Trader Titan write In X.
BTC/USD 1-week chart with hash ribbon data. Source: Cointelegraph/TradingView
The previous hash ribbon buy signal arrived in July 2024. At this time, the BTC/USD has not yet decreased, and it takes several months before a wave of upside down begins.
A similar scenario occurred after a purchase signal Printed on August 2023.
Optimism in the latest development seems to be tangible after most of Q1 2025 has been damaged by The failure in BTC price action.
“One of the most accurate mid-term indicators is Bullish today,” both businessman Robert Mercer added.
“Expects $ BTC to return to top of $ 100,000 in Q2 of 2025!”
Bitcoin finalizes “Multimonth RSI Downtrend”
Number Cointelegraph reportedBitcoin has already begun to have a bullish market turnaround as March approaches.
Related: Bitcoin should get this level of key 2025 to avoid new lows – research
The leader of the signs is the indicator of the KaMag -child index (RSI), which, like the Hash Ribbon, is in the process of returning to form after months of suppression.
In the weekly timeframes, the RSI confirmed a variety of bullish for the first time since September, while the sun -the -day chart shows a supporting support after destroying a downward run line since November.
“Finished Multimonth RSI Downtrend,” Trader and Analyst Recting Capital confirmed to the followers of X this week.
BTC/USD 1-day chart with RSI data. Source: Rek Capital/X.
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
