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.

The post Analyst Maps Out How Bitcoin Could Surge to $45K – BTC Must Overcome These 2 Resistance Levels appeared first on CaptainAltcoin.

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