Bitcoin

<ul><li>The Hash Ribbons indicator is nearing a significant buy signal, historically reliable after Bitcoin halvings.</li><li>Despite a 0.70% price dip, Bitcoin&#39;s trading volume surged by 102.54%, indicating high market activity.</li><li>Bitcoin&#39;s 1-day MACD trading below the signal line suggests a potential short-term bearish trend.</li></ul>As the <a href="https://cryptotale.org/ethereum-wallets-surge-as-bitcoin-dominance-weakens-heres-why/" rel="noopener noreferrer nofollow">Bitcoin </a>market teeters on the edge of a significant buy signal, <a href="https://x.com/ColeGarnersTake/status/1802914145177874852" rel="noopener noreferrer nofollow">Cole Garner, </a>an analyst, is closely watching the Hash Ribbons indicator. This metric, <a href="https://x.com/ColeGarnersTake/status/1802914276883255465" rel="noopener noreferrer nofollow">introduced</a> by caprioleio, has proven to be a reliable predictor of market movements, especially after Bitcoin halvings.<img src="https://lh7-us.googleusercontent.com/docsz/AD_4nXd39AIcxjadLkcjYJhrmbtgk1DIc23E9TwjgBsmS2KFKxsczuFmYeT9_OeavDCFF2TKABAsVjUbmdhfBiYDbbWpSXYs0pqIg6_dl_DGATPiJQZ8XiKxf-p6UDubY7k_2lWbOWK15pX8iSpaYA2apmljiJls?key&#61;8OyfsWAmmTyPMoo8VGXRlA" />As further noted by Cole Garner, when <a href="https://cryptotale.org/bitcoin-mining-costs-surge-post-halving-industry-faces-major-challenges/" rel="noopener noreferrer nofollow">Bitcoin’s </a>price drops below production costs, inefficient miners often shut down their machines. To cover their expenses, they sell their BTC holdings, causing the price to stabilize. This pattern has been <a href="https://x.com/ColeGarnersTake/status/1802914210973995130" rel="noopener noreferrer nofollow">consistent</a> following every Bitcoin halving, including the ones in 2016 and 2020, where the price went sideways for approximately 160 days each time.<img src="https://lh7-us.googleusercontent.com/docsz/AD_4nXcwdnj7ezeruHKFWYn5XXHeDeVRKYwRoI_imdL74cDoOtgUwlq2z6ZtcgGRENR6I5bzBUdYsiC4ab90XJvErIdWHJc50bMSu8fQLaeOKbN0K6NaaY1jqDo1WplqO8ofDQ9tonDo75Wv3XFqIVamNUd13xI?key&#61;8OyfsWAmmTyPMoo8VGXRlA" />However, this does not necessarily mean that Bitcoin will experience a stagnant summer. As the hashrate starts to recover, the Hash Ribbons will signal a potential buying opportunity. <a href="https://x.com/ColeGarnersTake/status/1802914243702030751" rel="noopener noreferrer nofollow">Historically,</a> this has been one of the most dependable indicators for Bitcoin purchases. Currently, the market is on the cusp of receiving this signal, which has garnered respect and attention from the cryptocurrency community.<a href="https://cryptotale.org/analyst-predicts-major-bitcoin-buy-signal-as-hash-ribbons-near-critical-point/" rel="noopener noreferrer nofollow">Read more on CryptoTale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Analyst Predicts Major Bitcoin Buy Signal as Hash Ribbons Near Critical Point

CryptoTale

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