Bitcoin finally breaks the parabolaAfter weeks of persistent parabolic moves, bitcoin finally slammed the breaks and changed gears, falling to $16,400 before finding a temporary floor.Since then, bitcoin has recovered some losses, reaching $18,700 before pausing once again at the time of writing.Clearly, bullish momentum has subsided, somewhat given that the parabola is no more.The 13-candle winning streak on the 3-day chart speaks to the fact that bulls were over-extended and exhausted.Hash ribbon flashes another buy signalMeanwhile, the bitcoin hash ribbon indicator has flashed another buy signal, indicating that this pull-back might be short lived.This signal indicates that \u2018miner capitulation\u2019 season is largely over, and that bitcoin is preparing for the next major move.The parameters for the above chart have been slightly modified in order to be more sensitive to incoming signals (i.e. the default settings haven\u2019t triggered a buy signal yet). However, these settings have no bearing on the indicator\u2019s accuracy as all prior signals line-up with the chart\u2019s default settings.In any case, prior capitulation and subsequent buy signals were accompanied by a period of relative accumulation before a continued grind higher. Given the accuracy of this signal, it\u2019s not unreasonable to treat price-action within the blue-range as an area to accumulate.Granted, the spread for this range might seem a bit excessive in comparison to previous moves, but that\u2019s only because price discovery hasn\u2019t ventured into the $30,000 plus region yet.After black Thursday in March, the hash-ribbon capitulation\/buy signal ranged within a $2396 range, representing a 50% spread from the lows within that time-frame. The same could be argued for bitcoin\u2019s current price-action.This scenario assumes bitcoin will be at all time highs by 2021, which is extremely likely in my estimation.Double bottom scenario?That being said, the 1-hour chart paints an uncertain picture in the short term \u2014 one which\u2026<\/p>","protected":false},"excerpt":{"rendered":"
Bitcoin finally breaks the parabolaAfter weeks of persistent parabolic moves, bitcoin finally slammed the breaks and changed gears, falling to $16,400 before finding a temporary floor.Since [\u2026]<\/span><\/p>","protected":false},"author":0,"featured_media":2796,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/afluxcoin.com\/pt\/wp-json\/wp\/v2\/posts\/2872"}],"collection":[{"href":"https:\/\/afluxcoin.com\/pt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/afluxcoin.com\/pt\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/pt\/wp-json\/wp\/v2\/comments?post=2872"}],"version-history":[{"count":0,"href":"https:\/\/afluxcoin.com\/pt\/wp-json\/wp\/v2\/posts\/2872\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/pt\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/afluxcoin.com\/pt\/wp-json\/wp\/v2\/media?parent=2872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/afluxcoin.com\/pt\/wp-json\/wp\/v2\/categories?post=2872"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/afluxcoin.com\/pt\/wp-json\/wp\/v2\/tags?post=2872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}