1. Make sure the PS4 and TV is both on.
2. Unplug the HDMI cable from the back of the PS4 console and check to see if the inside of the HDMI cable and the Back HDMI port of the PS4 are in good condition. Make sure there is no metal sticking up and that there are no broken metal teeth. If everything is good, plug the HDMI back into the PS4 and make sure it is snug. Do the same thing to the Back of the TV HDMI Port and that end of the cable. Make sure everything is good and put it back in snug.
(If you see anything that doesnt look good with the HDMI port, like something sticking out of place, make sure to turn off the PS4 before you attempt to fix the part out of place. Also if there was a metal piece sticking out of place in the back of the PS4 HDMI port, after you fix it, replace the HDMI cable because that is surely broken too now)
3. Once you know everything is working and connecting properly, grab your DS4 Controller.
4. Hold the PS button down on the DS4 and dont let go until you see the PS4 turn orange. Then let go.
5. Hold the PS button down again on the DS4 and dont let go until you see the PS4 turn white. Then let go.
6. If you did this properly, you should see the PS4 begin to boot up normally.
*Possible reasons this may not work*
1. Your DS4 is not syncing with your PS4, so it will blink white and then shut off.
2. Your signal is still being blocked, check cables again and check the HDMI port again to see if it is broken.

Hector From Not2NerdyEnt talks about the PS4 Blinking Blue Light of Death. He was able to fix it. He came to the conclusion that it is easily fixable!
Video of blinking blue light -
Twitch -
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