On September 28, Glassnode announced that the indicator called Bitcoin \u201cDifficulty Ribbon\u201d has moved to the \u201cbuy\u201d zone. Glassnode is a blockchain data and intelligence provider firm. The firm stated that the indicator gave a positive signal for the first time since March. The full tweet posted by Glassnode on Monday:\r\n\u201cBitcoin Difficulty Ribbon Compression trending up and broke out of the green buy zone for the first time since March. Historically, these have been periods characterized by a positive momentum indicating significant $BTC price increases.\u201d\r\nBitcoin \u201cDifficulty Ribbon\u201d\r\n\u201cDifficulty Ribbon\u201d is based on metrics made up of simple moving averages of bitcoin mining difficulty.\u00a0It is one of the on-chain metrics and created by cryptocurrency analyst Willy Woo.\u00a0The indicator developed as a way of measuring the best times to buy bitcoin. It points out to opportunities to buy BTC through miner sales. Historically, periods of high strip compression, such as the current situation, have been characterized as good buying periods.\r\n\r\nWhile miners are mining new BTCs, they are selling some tokens to pay for the costs. This situation creates downward pressure on the price. Later, the value rises due to the lack of miner selling pressure, and then growth occurs.\r\n\r\n\r\n\r\nFollowed this ribbon compression breaking out of the green zone, there have been several significant price increases over Bitcoin\u2019s lifetime. The most recent happened around April 2019. The BTC price rose from below $ 5,000 to over $ 13,000 in three months.\r\n\r\nAs a result, longer-term on-chain analysis, such as the difficulty ribbon, predicts that Bitcoin\u2019s future price action will be in an upward direction.