Trader outlines Bitcoin’s chances of rising to $45,000

A practising trader and founder of the Crypto Mentors project, Crypto Mentors Nikita Semov explains the current market situation.

Bitcoin failed to overcome the $39 700 resistance, from which we have already seen a significant sell-off. We consider whether a new low around $30 000 is possible or a rally to $45 000, as mentioned in the previous review.

The local uptrend, clearly visible on the hourly time frame, was broken — at a minimum, this signals movement toward the lower bound of the range. All long setups are occurring on decreasing volumes, which further characterizes the move as corrective.

The main buying level is $32 500. After breaching it, further declines can be expected. The local support zone is $35 500.

At present, given the emergence of buying activity, we expect a small correction to the $37 500-$38 100 zone, from which selling is expected to resume. The baseline scenario remains, but resistance at $45 000 persists — this remains the global level for sellers.