 The 100% success rate bitcoin by signal is flashing yet again back in January, which is the last time that this by signal flash I told you guys about it did a whole video and everything what happened after that bitcoin went up over 52% so hopefully you guys listened if not you might be in luck because the by signal has flashed once again What's up guys? My name is j and welcome to bitcoin daily in today's video We will be breaking down the by signal. That's flashing on the bitcoin chart We'll break down the indicator how it works and why a signal has been so successful in the past Including back in January of this year So the indicator is known as the hash ribbons indicator on trade of you just go up to indicators search for hash ribbons And it's the first one right here once added to your chart will pop up on the bottom just like this This indicator is based off bitcoin's hash rate, which is the measure of computing power being used on the bitcoin network The higher the hash rate the more powerful the network is and the more security is against potential attacks when the hash rate is high It means that a lot of miners are actively participating in the network and when it's low it means that there's less minor participation Hash rate can also be used as an indicator of interest and adoption of bitcoin as more miners join the network It means that more people are investing in bitcoin and as a result the hash rate increases as you can see in the chart We're currently at all time highs in bitcoin's hash rate meaning that interest and adoption of bitcoin has continued to go up Now the hash rate alone doesn't generate the by signal on the hash ribbons indicator The by signal is based on the relationship between the hash rate bitcoin's price and its moving average when looking at the chart You can see that we have different colored dots. This has to do with that relationship between those three components So let's dive into the specific process of how the hash ribbons indicator generates a biasing So the bi signal is generated in three stages. First, we have the miners capitulation state This is when the 30 day simple moving average of the hash rate falls below the 60 day simple moving average and the hash ribbon chart turns red This stage indicates that miners are losing interest and confidence in the network and it's a bearish signal for the market Next we have the end of the capitulation state This is when the 30 day simple moving average of the hash rate rises above the 60 day simple moving average Which creates this green dot and the hash ribbons chart becomes green This stage indicates that miners interest and confidence in the network is recovering and it's a bullish signal for the market Finally, we have the recovery of bitcoin's price momentum stage This is when the 10 day simple moving average of the bitcoin price rises above the 20 day simple moving average The blue dot lights up with a signal to buy this stage indicates that price momentum is recovering And it's a bullish signal for the market It's worth noting that all three stages must occur in sequence for the bi signal to be generated The blue bi signal only flashes when the network hash rate and the price momentum are both recovering Now that we understand the process of how the hash ribbons indicator generates a bi signal Let's take a look at how it's done historically including how it performed when it gave its last signal this year back in January So last time it gave us that bi signal was back here in early January And as you can already see bitcoin's price went up over 52 percent from that bi signal You can see that last year in the summer it hit capitulation stage and it hit stage two But it never hit that stage three Which is it why it did not give a bi signal during this time here Which ended up being good because as you guys can see the price went down If we look back to august of 2021 We can see that we got a bi signal there and bitcoin's price went up 57 percent after that bi signal If we look back to november of 2020 when we got a bi signal here You can see that bitcoin's price went up 235 percent And if you keep going back on bitcoin's chart following these bi signals You're going to see over and over again bitcoin's price has always gone up after the bi signal And eight out of 11 times that this bi signal has happened The bi signal from the hash ribbons was indeed an indicator of the macro bottom of the bitcoin price Including in january the bi signal from the hash ribbons indicator was indeed An indicator of the macro bottom of the bitcoin price So as you guys can see the hash ribbons indicator is a powerful tool for identifying potential Bottoms and finding good times to add to your bitcoin long-term positions I have alerts set up on this indicator on the weekly time frame And I recommend you guys to set it up as well This has gone 11 for 11 a 100 success rate So when this indicator has flashed a bi signal It's always been a good time to add to your long-term position If you guys found this video informative Don't forget to hit that like button And consider subscribing to the channel for more content just like this And before you go if you guys are looking to find the next 100x crypto I've found a way to leverage millions of dollars in research In this recent video I show you how to leverage the research And investments of three of the world's leading venture capitalist firms in crypto Just click the video on the screen right now I'll see you guys there Peace and love