Bitcoin (BTC) will rise above $45,000

In October, the price of BTC rose significantly, reaching a new annual high at $35,198.

Despite such a bullish forecast, closing BTC below the $30,000 mark cancels this scenario.

In this case, bitcoin may decline by 40% to the nearest support at $20,500. This growth was very important, as it led to a breakout of the $30,000 horizontal area. This area acted as support twice during the previous bullish cycle.