Bitcoin’s Most Important and Profitable Buy Signal Is Just About to Trigger

Tony "The Bull" Severino

Last Updated: June 11, 2024 2:04 pm

3 mins read

bitcoin btcusd crypto hash ribbons buy signal

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Despite falling prices, one of the most important and profitable buy signals in the history of Bitcoin is about to trigger.

Unless a sharp decline happens and miners powering the cryptocurrency protocol begin to capitulate, the signal is just days away from confirming.

Bitcoin Price Holds Above $9,000, Just Days Away From Most Important Buy Signal Triggering

Bitcoin price has traded sideways for the last month and then some. Volatility in the normally notoriously explosive cryptocurrency asset has reached shocking lows.

All signs suggest that the leading cryptocurrency by market cap is gearing up for a massive move. Perhaps one of its biggest ever.

Data suggests that when Bitcoin trades sideways and consolidates for this long, it typically moves over 20%. A pump usually follows a breakout, but the longer the sideways, the more dangerous the results.

The last two times volatility dropped this low, fireworks ensued when it returned.

The first was prior to Bitcoin’s drop to its current bear market bottom at $3,200. Before that, kicked off the asset’s historic bull market and rise to $20,000.

The instance that resulted in the bull market, came just after the asset’s last block reward halving in 2016. The cryptocurrency is at a similar point in its market cycle.

More signs are suggesting that the asset may be ready for another breakout to the upside. Hash Ribbons, one of the most important and profitable signals ever, are just days away from triggering a buy signal.

Bitcoin BTCUSD Hash Ribbons | Source: Trading View

Hash Ribbons Buy Signal Kicked Off Last Bull Market, And An Over 3,000% ROI

There’s no arguing the importance of the Hash Ribbons indicator. The tool is yet another Bitcoin fundamental analysis indicator designed by analyst Charles Edwards.

Edwards also created tools that look at cost of production, energy value, and much more.

These tools make up some of the most critical tools in Bitcoin analysis, especially from a fundamental standpoint.

Hash Ribbons signal when miners powering the network are capitulating. When that’s over, it signals a “buy.”

Several times throughout cryptocurrency’s history have resulted in a significant upside following the buy signal triggering.

It appeared just ahead of Bitcoin’s rise from the bear market bottom to $14,000 in June 2019. It also triggered just ahead of the pump to $10,000 in early February, and again on the way up to current levels.

Bitcoin BTCUSD Hash Ribbons | Source: Trading View

Prior to those instances, the Hash Ribbons buy signal resulted in the last bull market. After the buy signal, Bitcoin price rose over 3,000 percent, reaching an all-time high of $20,000.

Unless a catastrophic collapse occurs, this buy signal is just days away from happening again. If it does, these current lows may be the cheapest prices Bitcoin will ever trade at again.

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.