This ‘100% Hit Rate’ Bitcoin Signal Just Flashed Buy: ‘A Big Deal,’ Analyst Stresses
Prominent cryptocurrency analyst Kevin says Bitcoin (CRYPTO: BTC) is positioned for significant upside after receiving a rare weekly hash ribbons buy signal, despite warning that golden crosses typically precede short-term pullbacks in the current bull cycle.
What Happened: “That’s a big deal,” Kevin said in his latest analysis published on Wednesday, noting this represents only the second time in Bitcoin’s history that the indicator has triggered at all-time highs.
The hash ribbons indicator, which Kevin describes as having a “100% hit rate on the weekly time frame,” last flashed a buy signal at previous all-time highs in December 2020 when Bitcoin was trading around $20,000.
That signal preceded a 231% rally to $65,000 over 13 weeks, with Bitcoin moving “pretty much up only” during that period.
More significantly, Kevin identified this as the third occurrence of back-to-back weekly …
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