Crypto analyst Kevin (@Kev_Capital_TA) says a long‑watched miner health indicator — the Bitcoin hash ribbons — has flipped back to a weekly buy signal, a development he highlighted in a Jan. 8 video breakdown. Why it matters - The hash ribbons measure miner stress and recovery by comparing short‑ and long‑term moving averages of network hash rate. Kev describes it as a proxy for network health rather than a simple buy/sell switch: when the 30‑day hash‑rate average falls below the 60‑day, the model flags capitulation; when it climbs back above, it prints a buy signal (marked as blue dots on his chart). - Historically, the weekly version of the signal has been notable: there have been 19 weekly buy signals in Bitcoin’s history, and Kev cites an 84% “hit rate” for those signals leading to higher prices — though he stresses the record is not flawless. Recent signal activity - Around the end of December the ribbons flashed a capitulation signal in the second‑to‑last week, followed by a buy signal in the final week of December. Kev also noted the indicator was “flashing a capitulation signal” again in the current week (not yet confirmed), which could set up another buy if the 30‑ and 60‑day averages “mingle” and then resolve higher. A more cautious take - Kev qualified the model’s reputation: earlier in the cycle it produced buy signals in May and July that failed to deliver the stronger follow‑through seen in prior episodes. Historically, successful hash‑ribbons cycles have often produced 30–100% moves, but the May/July signals were more muted — breaking what had been framed as an almost perfect record. - He argues the context now is more favorable because the latest buy comes after a roughly 36% corrective drawdown and early signs of miner recovery, as the moving averages stabilize and attempt to turn up. Still, timing is unpredictable: the setup can play out over “two to four to six weeks,” or move sooner. Market snapshot At the time of his update, Bitcoin was trading around $91,009. Bottom line Kev sees the renewed weekly hash‑ribbons buy as a meaningful signal of miner recovery and potential upside, but he cautions that historical performance isn’t a guarantee and that traders should account for variable timing and recent cycle idiosyncrasies. Read more AI-generated news on: undefined/news

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