The on-chain data UTXO Age bands (realized price) highlighting the approximate costs for short-term investors points to two significant resistances.
🔴 1-4 week UTXO --> 69K
🔴 1-3 month UTXO --> 66K
Short-term investors turning profitable means they might get excited and start talking about Bitcoin to people around them. This leads to new investors entering the market, which is one of the most crucial foundations for a bull rally. That's why I'm following this 2 resistance level closely.
Note: The levels mentioned above are approximate; you can find the details in the visual.
Written by burakkesmeci