Hash Ribbons - Wrong Signals?

🗣: Yesterday we received a buy signal on Hash Ribbons and today we fell, why ⁉️

Answer: The Hash Ribbon is primarily an indicator of the BTC hashrate, it is 2 moving averages, and when after the capitulation of the miners (after the halving), we reached the plateau at least a little and began to recover, MA turned to the bullish side, which triggered the signal.

📝So it's simple - the hashrate has recovered.

💡Of course, considering other metrics, we have a fairly positive long-term picture and hashrate is a fairly powerful fundamental metric, the growth of which is positive for the reliability of the #Bitcoin network. But too much attention to only one signal is not productive.