Analyst Maps Out How Bitcoin Could Surge to $45K – BTC Must Overcome These 2 Resistance Levels

According to crypto analyst CryptoCon, Bitcoin appears primed for a move to $45,000 in the coming weeks as it enters the mid-cycle peak of its current bull run. However, BTC must first overcome two key resistance levels at $36,400.

CryptoCon notes that historically, Bitcoin price has typically continued surging to its “mid-cycle top” after concluding the second phase of its macro price cycles. With Bitcoin now in the fourth phase, the mid-cycle peak represents upside potential to around $45,500.

Past price cycles show this mid-cycle climax tends to occur within two months from the end of the second leg. Given phase two likely finished in September, Bitcoin could hit its peak target as soon as November if history rhymes.

Fueling this potential move is growing optimism that the SEC may finally approve a Bitcoin spot ETF, allowing mainstream investment exposure. Analysts speculate this could ignite a surge past all-time highs near $69,000.

However, CryptoCon points out two major resistance levels must be overcome to maintain bullish momentum. These sit around $36,400 and line up with Bitcoin’s fair value ceiling and the upper boundary of its current trading range.

Convincingly breaking above that key zone would signal a straight shot towards $45,000 as buyers take full control. But failure to push through could mean prolonged consolidation before another breakout attempt.

With Bitcoin holding firmly above $34,000, bulls feel the stage is set for an assault on $40,000 and beyond. But bears will look to defend critical resistance points and trap overeager longs. The coming weeks will prove pivotal in determining if Bitcoin can launch into a new mid-cycle parabolic advance.

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Petar Jovanović
Petar Jovanović

As the Head of Content at Captainaltcoin, I bring years of experience in the crypto industry. With a strong belief in the potential of the web3 market since 2017, I'm passionate about sharing valuable insights and knowledge. Feel free to connect with me on LinkedIn and let's discuss the exciting world of cryptocurrencies and decentralized technologies!