NFT News Daily TheBittimes.com

Although the majority of assets in the cryptocurrency sector got off to a slow start this week, Bitcoin (BTC) could be looking at a massive advance toward and beyond the threshold of $47,000 soon, provided it manages to break the key resistance that currently stands in its way. As it happens, Bitcoin’s realized price distribution (URPD) or unspent transactions output (UTXO), or the amount remaining after every transaction, suggests that the maiden cryptocurrency is facing “stiff resistance at $38,500,” as noted by crypto market analyst Ali Martinez in an X post on November 26. Having said that, the crypto trading expert also observed that the flagship decentralized finance (DeFi) asset “slicing through this barrier could help BTC advance toward $47,360,” which is the next significant point in the chart Analysis that Martinez shared. Bitcoin UTCO realized price distribution. Source: Ali Martinez Specifically, UTXO UPRD shows at which prices the current Bitcoin UTXOs appeared, ea...

Although Bitcoin (BTC) has started to slow down its gains from the past weeks that have seen it not just cross the critical $35,000 mark but almost reach $38,000, technical indicators suggest it might make a more significant move upward in the near future. Specifically, the “higher timeframe picture on Bitcoin shows that we’ve hit a crucial resistance zone,” according to the analysis carried out by the cryptocurrency trading expert Michaël van de Poppe shared in an X post published on November 17. Indeed, Bitcoin did briefly touch the pivotal resistance at the area around $38,000 (between $37,900 and $38,500), at the same time moving far away from the pivotal support between $31,114 and $31,790, as the cryptocurrency analyst’s chart suggests. Bitcoin price action analysis. Source: Michaël van de Poppe At the same time, pseudonymous crypto market analyst Trader Tardigrade has pointed out that Bitcoin would enter a “ parabolic bull run soon,” sharing a chart pattern Analysis dati...