Analysts Debate Over the Next Expectations for Bitcoin, Another Retest or Cycle Top Targets?

Analysts debate over the next expectations for Bitcoin

Some expect another retest before a parabolic pump.

Others expect BTC to set its cycle top targets in the next 2-3 months.

The price of BTC continues to trade between $108,000 and $110,000, showing strong and steady promise of a greater pump ahead. Now, analysts are taking a closer look at the BTC price charts to determine what move to anticipate next for the price of the pioneer crypto asset. To specify, analysts debate over the next expectations for Bitcoin, will it face another retest, or will it go on to hit its cycle top targets?

Analysts Debate Over the Next Expectations for Bitcoin

The pioneer crypto asset, Bitcoin (BTC), has shown an exceptional performance so far. Looking back at the Bitcoin Halving event, the price of BTC set a surprise first-time record, where BTC price set a new ATH price event before the Bitcoin Halving event took place. This has never happened before, in previous cycles, BTC always set a new ATH after the Bitcoin Halving event took place

Soon after, BTC experiences a slow up and down movement until the price of BTC finally hit higher targets that took it to the $90,000 price level. Once the new year began, BTC hit its first 6-digit ATH price. However, the next three months then took the price of BTC to a prolonged and much-needed correction phase. Here, the price of BTC went as low as $70,000 prices

Analysts concluded that BTC’s early pump meant that a correction would lead to a healthier market ahead. Which is what the crypto market has been entering right now. In detail, analysts are seeing that BTC has broken part the $108,000 price resistance level and has been trading between $108,000 and $110,000 prices in the last few days. This means that the price of BTC could soon go on to hit much higher targets

Another Retest of Cycle Top BTC Targets?

With these expectations in mind, analysts are trying to anticipate what is next. On the one hand, some have set the next ATH targets for BTC between $114,000 and $137,000, on the other, some expect another retest to occur first. As we can see from the post above, one analyst says that a bull flag breakout on the daily timeframe is turning out to be a fakeout, concluding that Bitcoin has failed a retest

Meanwhile, another analyst notices that many analysts and traders are expecting BTC to experience its peak price for the bull cycle soon, based on data from previous halving cycles. If this is true, and BTC follows the same pattern as previous bull cycles, then the price of BTC could very well set its cycle top prices in 2-3 months. However, others expect a deviation from previous bull cycles, meaning a longer run to cycle top prices