CryptoQuant Analyst: Hash Ribbons Indicator Issues Bitcoin Buy Signal

On June 5, CryptoQuant analyst Darkfost said the latest data showed a buy signal for Bitcoin from the Hash Ribbons indicator, which assesses the stress level of the miner ecosystem by comparing hash rate 30-day and 60-day moving averages. The analysis points out that with the recent all-time high of bitcoin hashrate, miners are under short-term pressure and may be forced to sell bitcoin to stay afloat, and this sell-off tends to create long-term buying opportunities.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)