BTCUSD: Network Hash Gives 10th Buy Signal In 9 Years
Updated
The Hash Ribbons indicator confirmed it's 10th buy signal in 9 years yesterday on the Daily chart at $7,245. Historically, this indicator has given the best opportunities for long-term investment during accumulation phases.
The 3 Day chart is also signalling a buy, confirmation would arrive tomorrow with the close of the current candle. The Weekly chart however, that has been flirting with "hash recovery" this week, has been unable to maintain this MA bull-cross for now, while the Monthly remains in capitulation phase.
No confluence yet on longer-term time-frames, but the Daily chart confirms enough for me.
Daily chart (2011-2015):
[u]Signals (2011-2013):[/u]
$4.08, December 27th 2011 (1)
$5.09, May 20th 2012 (2)
$6.46, June 22nd 2012 (3)
$20.55, February 2nd 2013 (4)
Daily chart (2015-2019)
[u]Signals (2015-2019):[/u]
$234, January 28th 2015 (5)
$234, May 2nd 2015 (6)
$238 May 28th 2015 (7)
$612, September 4th 2016 (8)
$3652, January 11th 2019 (9)
$7245, December 27th 2019 (10)
Average of 1 buy signal per year in the past 9 years. Only 2 buy signals have now occurred in the past 2 years.
3 Day chart:
Weekly chart:
[u]Signals (2011-2019):[/u]
$5.28, December 26th 2011 (1)
$6.35, June 18th 2012 (2)
$23.80, February 4th 2013 (3)
$227, January 26th 2015 (4)
$231, May 25th 2015 (5)
$3533, January 7th 2019 (6)
Average of 1 buy signal every 18 months in the past 9 years. 1 signal has occurred in the past 3 years, another is clearly due.
Monthly chart:
Extrapolating 2014 Correction - Could $6,500 Be The Low?
Two & Four Year MA's Claim It's Time To Accumulate
The 3 Day chart is also signalling a buy, confirmation would arrive tomorrow with the close of the current candle. The Weekly chart however, that has been flirting with "hash recovery" this week, has been unable to maintain this MA bull-cross for now, while the Monthly remains in capitulation phase.
No confluence yet on longer-term time-frames, but the Daily chart confirms enough for me.
Daily chart (2011-2015):
[u]Signals (2011-2013):[/u]
$4.08, December 27th 2011 (1)
$5.09, May 20th 2012 (2)
$6.46, June 22nd 2012 (3)
$20.55, February 2nd 2013 (4)
Daily chart (2015-2019)
[u]Signals (2015-2019):[/u]
$234, January 28th 2015 (5)
$234, May 2nd 2015 (6)
$238 May 28th 2015 (7)
$612, September 4th 2016 (8)
$3652, January 11th 2019 (9)
$7245, December 27th 2019 (10)
Average of 1 buy signal per year in the past 9 years. Only 2 buy signals have now occurred in the past 2 years.
3 Day chart:
Weekly chart:
[u]Signals (2011-2019):[/u]
$5.28, December 26th 2011 (1)
$6.35, June 18th 2012 (2)
$23.80, February 4th 2013 (3)
$227, January 26th 2015 (4)
$231, May 25th 2015 (5)
$3533, January 7th 2019 (6)
Average of 1 buy signal every 18 months in the past 9 years. 1 signal has occurred in the past 3 years, another is clearly due.
Monthly chart:
Extrapolating 2014 Correction - Could $6,500 Be The Low?
Two & Four Year MA's Claim It's Time To Accumulate
Note
Oops, the Weekly chart is actually this one, that is still signalling the hash "recovery phase" in fact:Note
This is also the first buy since 2016 approx $575 BTC, given there was no buy signal earlier this year:This is therefore the 8th buy signal in 9 years on this time-frame, average of 1 signal every 13.5 months.
There is notable confluence with the TD Sequential as the 5 Day chart is also printing a TD 9 Buy signal:
Last time we had a TD 9 Buy on the 5 chart was in January 2019 at $3,222 during miner capitulation. Go figure...
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