Bitcoin’s Most Reliable Signal Just Flashed—Next | Crypto News
The Hash Ribbon “buy” set off – a signal embedded in Bitcoin’s community hashrate dynamics – has flashed again, and technical analyst Astronomer Zero believes it may pave the best way to at least $170,000 per coin. A chart the analyst posted on X on 12 June overlays every prior weekly‐time-frame Hash Ribbon entry since 2020 on the BTC/USDT perpetual contract at Binance, illustrating why the signal is handled with virtually talismanic respect by some quantitative merchants.
Bitcoin Surge To $170,000 Imminent?
The graphic reveals 5 earlier occurrences of the capitulation-to-recovery crossover embedded in the Hash Ribbon algorithm. Each is marked on the price pane by a cobalt-blue “Buy” dot instantly beneath the weekly candles and linked to the following rally by a violet measuring arrow.
After the signal in late-2020, Bitcoin accelerated by 235% from the $18,000 consolidation ground to problem the then-all-time-high zone just above $60,000 before any main pull-back unfolded. Mid-2021’s ribbon occasion proved more modest – roughly 59% from a $30,000 base into resistance close to $48,000 – yet it still revered the rule that the market rewards the crossover with vital upside.
The next two alerts, printed in late-2022 and early-2023, have been far stronger: a 260% surge from the capitulation trough below $18,000, adopted by a 175% leg in mid-2023 that carried price cleanly to the long-standing provide shelf in the $60,000 space. In mid-2024, the hash ribbon signal led to a 100% rally above $100,000.
Most just lately, the ribbon crossed again three weeks in the past, with Bitcoin quoted at roughly $105,000 on the weekly close. The analyst annotates present price at $106,873 and attracts a contemporary horizontal barrier at the $160,000–$165,000 band – the extent that would align with the imply magnitude of earlier post-signal advances. Were the market merely to match the smallest historic share transfer (≈ 60%) from the current crossover, spot would lengthen to the $170,000 area indicated in crimson on the chart.
Hash Ribbon logic is mechanical. When the 30-day shifting average of community hashrate climbs back above the 60-day average after a period of miner capitulation, on-chain observers learn it as an all-clear that compelled promoting strain has exhausted. In the previous, that transition has coincided with aggressive spot accumulation seen on-chain and in derivatives positioning.
Sceptics will notice that correlation shouldn’t be causation and that a six-figure quote for Bitcoin already bakes in ETF inflows, a looming halving provide shock and a world liquidity cycle that may yet tighten. Still, Astronomer Zero’s chart underscores an goal truth: in the final half-decade the Hash Ribbon “buy” has never mis-fired. Whether historical past’s rhythm repeats or merely rhymes, merchants are watching the $170,000 degree marked on the chart as the next take a look at of that document.
At press time, BTC was down 3.1% over the previous 24 hours, trading at $104,898.
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