Crypto Market Analysis: What To Expect In Q2 2023
- The end of Q1 saw Bitcoin prices above $29,000 and trending towards $30,000.
- History suggests that BTC may reach new highs after a significant upswing in the coming months.
- It is expected that Bitcoin will soar above $30,000 in the first weeks of April and reach crucial resistance near $35,000 by the end of H1 2023.
Recent Q1 Close
At the close of Q1 2021, Bitcoin prices were hovering above $29,000 and trending towards an even higher mark of $30,000. The price was consolidating within a narrow range which displayed the possibility of continuing with this trend in the coming days.
Previous Price Patterns
Bitcoin prices usually follow a repetitive pattern from the past and this can be seen in its recent breakout too. This breakout resulted in huge bullish candles being recorded over a couple of months, leading to an eventual upswing that pushed BTC to new highs. As per previous data patterns, one can expect a similar upswing in Q2 2021 as well.
Predicted Price Movement
It is predicted that Bitcoin will break out from its consolidation phase soon and surge high beyond the $30k mark during the first few weeks of April. In addition to this, once it reaches crucial resistance levels close to $35k by mid-year (H1 2023), another notable upsurge is likely to occur until year-end.
Overall, these predictions suggest that we can expect strong growth for Bitcoin in Q2 2021 as it breaks beyond its consolidation level and continues on its upward trajectory throughout the rest of H1 2023.