Bitcoin Price Model Expects $45K 'Phase' to Hit in November

Analyst predicts Bitcoin to reach $45,000 next month

Bitcoin (BTC) is expected to hit $45,000 in November, according to popular analyst CryptoCon. Using a Fibonacci retracement model, CryptoCon believes that there is still room for BTC/USD to expand to the highest of the model's five targets to hit a mid-cycle top. He also flagged two key resistance levels that Bitcoin bulls need to clear in order for the $45,000 target to become a reality.

Bitcoin's current cycle behavior is "completely different"

Fellow trader and analyst Rekt Capital has described Bitcoin's current cycle behavior as "completely different" compared to previous cycles. According to his own cycle comparison, BTC/USD should be testing support at this point in its four-year pattern, rather than resistance. Rekt Capital believes that any significant pullback would represent a buying opportunity in the cycle.

Note: This article does not provide investment advice. Readers should conduct their own research when making investment decisions.