According to the co-founders of crypto analysis platform Glassnode, Bitcoin is at an important turning point at current levels. Experts say that the BTC accumulation phase will begin with a big move on the horizon.
Can you buy Bitcoin today?
Bitcoin, which gained upward momentum the previous day, managed to rise above $ 26,400 at one point. This move coincides significantly with the levels noted by Glassnode co-founders Jan Happel and Yann Allemann. Analysts say that current levels are paving the way for a rally, but the outcome could also be downside:
BTC’s price resurgence stabilizes at $25,824, creating a potential launch pad. Multiple rejections at the $25,000 level suggest continued conscious accumulation.
But neither bulls nor bears show dominance; There is a war in the game. So why? Bullish momentum may be losing steam. Be ready for a decisive move.
As you follow on Kriptokoin.com, Bitcoin is currently trading in the region of $ 25,850. Happel and Allemann have previously outlined two levels that can determine whether Bitcoin will trend bullish or bearish forward.
Medium-term outlook: Favorable risk/reward ratio, but uncertainty in the short term ($25,800 – $26,800).
Possible levels due to downtrend: $23,800 – $24,800.
Bottom signs: RSI bullish, volatility decreasing. Consider buying after bearish or holding firm at $26,800 to break the downtrend.
Bitcoin offers $24,400 round trip
While Glassnode’s co-founders wait for the leading crypto to decide in the short-term, other analysts warn against potential bottom tests. This correction movement was revealed by the rally that the Bitcoin price started last night. Following the rally, short liquidations totaled $23.5 million for Sept. 7, according to data from CoinGlass. The long calculation for September 8 is still uncertain.
“Shorts were as expected,” wrote popular trader Skew in a segment of his overnight market news on X.
Fellow trader Daan Crypto Trades emphasized the importance of regaining ground lost in August. X told his subscribers, “Bitcoin has finally managed to rise above the September open level after testing it many times. Now testing again. The question is: Will it provide support as well as resistance? “It’s up to the bulls to try to maintain a ‘green’ September.”
Analysts say $26,000 is critical
Continuing, Bitcoin analyst Tony said that $26,600 is the line to cross, ignoring the strength of the overnight move. Along with an explanatory chart, “A nice rise from the lows of $25,600 but no follow through to the highs. So we’re stuck in the middle range again,” he explained. He also added:
No entry into Bitcoin for me unless we clear $26,600.
“Stay away from the altcoin market”
On the altcoin side, investors need to be more careful for a while, according to Glassnode’s co-founders. Analysts warned traders and investors with the following words in their current analysis:
Minimize your investors in altcoins. Small and mid-caps are showing slightly negative momentum and selling pressure. BTC, ETH [Ethereum] and majors are in uncertain territory. A flat momentum does not guarantee a strong upward move. Safe entry for altcoins: Wait for BTC bullish momentum and stability, confirm trend reversal.