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,
We współpracy z: https://finbold.com/bitcoin-slicing-through-this-resistance-could-send-it-over-47k/
