Resistance

<ul class="news-points">
 <li>An X user shared in a post that BTC’s on-chain behavior is reflecting a cyclical pattern.</li>
 <li>At press time, BTC was trading at $38,765.40 following a 24-hour gain of 1.76%.</li>
 <li>Technical indicators suggest that BTC’s price could rise to the key $40K resistance level.</li>
</ul>
An X user by the username NeuroInvest Research stated in a post earlier today that on-chain <a href="https://coinedition.com/bitcoin-btc-price-prediction/" rel="noopener noreferrer nofollow">behavior for Bitcoin (BTC)</a> reflects a cyclical pattern. According to the post, this pattern seems to be stimulated by external events the majority of the time.
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 The on-chain behavior of <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> reflects a cyclical pattern, often stimulated by exogenous events. The heatmap visualizes various measures of behaviour overtime, highlighting how coins are mobilized in response to environmental stimuli, or anticipation of future stimuli <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f9f5.png" alt="🧵" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/ldzQMYw6k6" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/ldzQMYw6k6</a>— NeuroInvest Research (@Neuro__Invest) <a href="https://twitter.com/Neuro__Invest/status/1730737209689665594?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">December 1, 2023</a>
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The X user went on to add that there have been pronounced spikes in BTC outflows recently. Alongside this uptick in outflows, there has also been a notable increase in on-chain liquidity.
Meanwhile, the market leader was changing hands at $38,765.40 at press time. This was after the cryptocurrency re…
The post <a href="https://coinedition.com/btc-targets-40k-mark-after-overcoming-the-38k-resistance/" rel="noopener noreferrer nofollow">BTC Targets $40K Mark After Overcoming the $38K Resistance</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

BTC Targets $40K Mark After Overcoming the $38K Resistance

Coin Edition

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