Charles Edwards, the inventor of the technical indicator Has Ribbons, expressed his belief that the bottom is reached and his indicator shows a perfect moment to enter the market with a bullish position. We have been in a downtrend for a while and the freefall of the crypto market scared many short-term investors from approaching various crypto assets.
However, those who think about purchasing BTC and holding it can be a great moment to act. The latest signal generated by the technical indicator Hash Ribbons says that the current price of Bitcoin is very close to the lowest possible in this quarter. This analysis suggests that investors with bullish intentions should act right now and start buying.
Since the indicator went live three years ago and already showed 6 very good moments to buy with predictions made ahead of the price surge. Now, the indicator shows that people who want to buy on the spot market are in a good position to acquire coins without leverage and wait for them to appreciate them over a relatively long period.
At the same time, traders using leveraged positions can buy and wait for the asset to rise very soon.
Note that such predictions are based on technical analysis alone and may not carry as much weight as in bullish markets. The current crypto winter has been skewing predictions of many indicators that showed potentially good moments to enter the market.
While it is possible that this signal is legit and the price surge is coming, even the inventor of the indicator stresses that predicting bottom prices is very difficult, but the current signal is very likely to be a reliable forecast.
If you have any disposable income that you can afford to invest in a volatile and risky asset, you should consider investing in Bitcoin now. However, do not invest more than you can comfortably lose. Use other technical analysis techniques to confirm the signal and make your predictions based on your experience.