Traders Should Brace for ‘Decisive Move’ As Bitcoin Undergoes Savvy Accumulation Phase: Glassnode Co-Founders – The Daily Hodl



The co-founders of the crypto analytics platform Glassnode say Bitcoin (BTC) is at an important inflection point.

Jan Happel and Yann Allemann tell their 56,600 followers on the social media platform X that a BTC accumulation phase is underway, with a big move on the horizon.

“Navigating the Directionless.

BTC’s price resurgence finds equilibrium at $25,824, forming a potential launchpad. Multiple rejections at $25,000 reveal savvy accumulation in progress.

Yet, neither bulls nor bears show dominance; a battle at play. The why? Bullish momentum might be losing vigor.

Brace for a decisive move.”

Source: Negentropic/X

Bitcoin is trading at $25,696 at time of writing.

In an earlier tweet, the two co-founders outlined two levels that could determine whether Bitcoin takes a bullish or bearish path moving forward.

“Mid-term outlook: Favorable risk/reward, but short-term, uncertain ($25,800 – $26,800).

– Possible downside ($23,800 – $24,800) due to bearish trend.

– Signs of bottoming: RSI bullish divergence, fading volatility.

Consider buying after dip or solid $26,800 hold to break the downward trend.”

Source: Negentropic/X

As for the altcoin market, the Glassnode co-founders are issuing a word of caution.

“Minimize exposure to altcoins.

– Small and mid-caps show slight negative impulse and selling pressure.

– BTC, ETH [Ethereum], and large caps are in uncertain territory. A flat impulse doesn’t guarantee a strong upward move.

Safe entry for altcoins: Await BTC’s upward impulse and stability, confirm trend reversal.”

Source: Negentropic/X

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney





Source link


Like it? Share with your friends!