Bitcoin Analyst Says ‘45,000 Has Been Broken To The Upside,’ Shares The Next Target For BTC

Crypto analyst Cryptocon provided a noteworthy update on Bitcoin’s price action recently. Despite various market signals flashing overbought readings, BTC moved against expectations.

“Even though most Bitcoin data is overheated and topped out, the price has decided not to cool down just yet for the New Year, says Cryptocon.

Importantly, Bitcoin managed to achieve a decisive daily close above the $45K resistance level—a price point many analysts eyed as a potential cycle midpoint peak. Cryptocon himself viewed this zone as an area likely requiring a cooldown.

However, with BTC pushing through instead, historically reliable valuation models now suggest potential for continuation towards decidedly more bullish cycle highs. As one example cited, the MVRV-Z score remains conspicuously absent of euphoric overextension.

Transform Hundreds Into Millions With the Magic of Memecoins – think $BONK, but bigger!🤫

The key? Getting in early, especially during the IDO phase. Get in on NuggetRush now! This innovative memecoin blends play-to-earn gaming with real-world gold mining. Join soon to take advantage of the current ICO prices!

Show more +

In truth, the move above $45K caught Cryptocon by surprise based on topping signals across various indicators. Yet the analysts remain flexible in updating the analysis should new price actions conflict with prior theses.

This adaptability now has him eyeing the $48K 0.618 fibonacci retracement of Bitcoin’s macro move as the next feasible target while crypto markets defy cooling off. And he continues holding full BTC and altcoin positions in anticipation of what comes next following this show of strength.

You may also be interested in:

Check NuggetRush ($NUGX)

Sponsored: Invest Responsibly, Do Your Own Research.
Being in its ICO stage, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices
A unique play-to-earn gaming platform in the memecoin market
The platform combines artisanal and gold mining with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience
Fosters a strong community by encouraging physical meetups among members
NFT Integration with Prominent Characters
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.


Vignesh Karunanidhi
Vignesh Karunanidhi

Seasoned crypto writer with deep passion for blockchain and cryptocurrency