Definition. Difficulty Ribbon is an indicator built from seven simple moving averages (200d, 128d, 90d, 60d, 40d, 25d, 14d) of Bitcoin mining difficulty, stacked as a ribbon.

Interpretation. Historically, periods when the ribbon compresses have been considered favourable buying opportunities.

Notes. Created by Willy Woo. For more information, see the introductory article.

This is the Point-in-Time (PiT) variant of Difficulty Ribbon. PiT metrics are strictly append-only and their history is immutable. The historic data does not necessarily reflect the best current knowledge, but the information at the time when a data point was first computed. PiT metrics are ideal candidates for applications in model backtesting and related quantitative purposes. Read our article on PiT metrics for more information.