• Glassnode co-founders Jan Happel and Yann Allemann predict that September could bring good news for Bitcoin (BTC).
• They point to the relative strength index (RSI) as an indicator of potential bullish momentum.
• However, they warn that if BTC dips below $25,500 it might be difficult to push prices higher.

Glassnode Co-Founders Forecast Possible Good News for Bitcoin

The co-founders of the crypto analytics firm Glassnode, Jan Happel and Yann Allemann, think Bitcoin (BTC) could have a strong performance next month. They believe Bitcoin’s momentum indicator – the relative strength index (RSI) – is flashing bullish signals heading into September.

Potential Move Above $26K Hinges on Avoiding Dip Below $25.5K

The two warn that if prices drop below $25,500 then a move above $26K could prove difficult. The RSI sits just below 30 on a scale of zero to 100 which generally indicates oversold territory. Additionally, they note that while bears are dominating the market at the moment, selling pressure appears to be weakening and there is hope for a relief rally back up to test the $27K level.

Current Price Action

At time of writing BTC was trading at $26,059, down 0.1% in 24 hours.

Analyzing August Trends

Glassnode’s chart suggests weaker short-term energy which may affect the key support level of $25K while maintaining a neutral long-term view. To go above $26K in September sellers must lose grip and demand must increase for strong longs at this price point or higher.


September may bring positive news according to Glassnode’s analysis but it will depend on whether or not BTC can avoid dropping below $25,500 and rallying above 26K simultaneously in order to get there successfully.