Hash Ribbons
Hash Ribbons compares 30-day and 60-day MAs of network hashrate. When miners collectively switch off hashpower, the short line drops below the long one β the red phase marks miner capitulations. The recovery cross back up has historically been one of the most reliable buy signals, developed by Charles Edwards (Capriole) in 2019.
- Formula:
- MA(30, hashrate) vs MA(60, hashrate)
- Originator:
- Charles Edwards (Capriole, 2019)
- Data source:
- BRK (hash_rate ab 2009 β 30d/60d-MA berechnet) + bgeometrics-Inkrement seit April 2022. Vollbackfill 2026-05-28.
Strategies to backtest
Thematically related strategies from our library β try them in the backtest engine or read up on the methodology.
The classic trend-following signal β when the 50-day SMA crosses above the 200-day SMA, the trend has flipped bullish.
Open strategy βTwo EMAs plus an ATR-based neutral zone β like the commercial Larsson Line, but tunable, transparent, and backtested. Choose your bias.
Open strategy βMore Bitcoin indicators
Daily coin issuance in USD relative to its 365-day average. Values above 4 indicate miner-profit overheat (top), below 0.5 mark capitulation bottoms.
Estimated mining floor: average electricity cost + 30% operational overhead per BTC produced. Cambridge CBECI as data source.
111-day SMA vs. 350-day SMA Γ 2. Classic top signal by Philip Swift β historical crossovers nailed every BTC bull-run top to within days.