Well, slap my knee and call me a digital goldbug, because Bitcoin traders are doing a jig! 🕺 That’s right, one of those fancy-pants Bitcoin price gadgets – the Hash Ribbon – just gave us the nod to buy, and it’s as “macro bullish” as a bull in a china shop!
This Hash Ribbon doohickey, courtesy of them brainy folks at Capriole Investments, just hollered its first buy signal since eight whole months ago. And let me tell you, that’s no small potatoes!
Hash Ribbon’s Magic: $100,000 BTC by Q2?
Those Bitcoin miners, bless their hardworking hearts, are about to kick up their heels again as the Hash Ribbon signals the end of their capitulation phase. This little tool keeps an eye on the miners’ profitability – when it’s as shaky as a leaf in a twister, it means capitulation, and you best believe that’s been a harbinger of price reversals more times than a cat’s got lives.
It’s all about them moving averages of the hash rate – the30-day and60-day, to be precise. When they cross like two ships passing in the night, it’s all hands on deck for buy signals!
According to the fine folks at CryptoMoon Markets Pro and TradingView, this Hash Ribbon flashed its buy signal on March24, clear as day on both your daily and weekly charts.
“This is macro Bullish,” says the trader known as Titan of Crypto, and he wasn’t just whistling Dixie.
The last time we saw a Hash Ribbon buy signal was way back in July2024. Now, BTC/USD was still finding its bottom then, but eventually, it kicked off like a mule with a burr under its saddle. Same story back in August2023 – slow start, big finish.
Despite the past, there’s a whole lot of hootin’ and hollerin’ over this new signal, especially after Q12025 was about as exciting as watching paint dry for BTC prices.
“One of the most accurate mid-term indicators is bullish now,” chirps Robert Mercer, another trader with a nose for these things.
“Expecting $BTC to go back above $100,000 in Q2 of2025!”
Bitcoin Shakes Off the “Multimonth RSI Downtrend”
As CryptoMoon’s been yammering on about, Bitcoin’s been dropping hints of a bull market comeback as March draws to a close. The big kahuna here is the relative strength index (RSI), which is shaking off the dust and showing signs of life after being squashed flatter than a pancake for months.
Weekly RSI’s showing a bullish divergence for the first time since September, and that daily chart’s testing support after breaking out of a downward trend that’s been a thorn in its side since November.
“The multi-month RSI Downtrend is over,” declares Rekt Capital, a trader and analyst who knows his onions.
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2025-03-25 13:32