The Co-Founders of Glassnode Predict a Positive September for Bitcoin
The co-founders of Glassnode, Jan Happel and Yann Allemann, believe that Bitcoin could have a strong performance in September. They point to the relative strength index (RSI), a momentum indicator for Bitcoin, which is flashing bullish signals. However, they caution that if Bitcoin falls below $25,500, it may struggle to recover.
Key Points:
- The RSI for Bitcoin is just below 30, indicating oversold territory.
- The selling pressure for BTC is slowing down, suggesting a potential relief rally.
- Bitcoin’s price is currently at $26,059, down 0.1% in the last 24 hours.
Hot Take:
According to Glassnode’s co-founders, September could bring positive news for Bitcoin. However, they emphasize the importance of staying cautious, as breaking below $25,500 and surpassing $26,000 may pose challenges for the cryptocurrency. Investors should closely monitor Bitcoin’s performance in the coming weeks.
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