Predicting the next Bitcoin price top: Here’s what may come after $23K

price surpassed $20,000 with ease on its third retest, buoyed by a surge in buy volume. Following the breakout, analysts anticipate the dominant cryptocurrency to eventually rise to the mid-$30,000s. However, in the short term, the expectations of a pullback are growing.

There are compelling arguments for both short-term bull and bear cases. Traders who are highly optimistic in the near term state that the surge past $20,000 has confirmed a new bull trend. With no technical resistance above it, a continuation of the rally is anticipated. Because there is no historical data to rely on above $20,000, Bitcoin (BTC) has entered unprecedented territory.