The post This is What Bitcoin Traders can expect from the $BTC price in Q2 2022! appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide
Ever since the beginning of 2022, the global markets have witnessed a significant swing due to multiple external reasons. Let it be the FED’s interest rates or the Russian conflict with Ukraine. But Bitcoin managed to sustain the trembled situation very firmly without undergoing a steep plunge. No doubt the price had dropped below $35,000 but it quickly regained within a few moments.
However, advancing towards the next week, the BTC price rally remains pretty uncertain. And therefore, both possibilities of a significant jump and a notable plunge surface. Therefore if the asset undergoes a prominent uptrend, then a strong recovery may be expected. Else the present consolidation may continue and eventually drag beneath.
Also Read: Bitcoin(BTC), Ethereum(ETH) & Cardano(ADA) Price To Hit This Level During the Weekends?
Bullish Case for Bitcoin(BTC) Price
According to Katie Stockton who is the founder of Fairlead Strategies, Bitcoin may clear the current $42K to $44K resistance zone. Further, the new resistance zone may be laid for the asset around $50K to $51K. A clear breakout from these levels may ignite a significant upswing beyond $55,000 at the earliest.
On the other hand, Ron William, the founder of RW market advisory, the BTC price may showcase a strong upside breakout between $44,550 and $46,000 very soon. The analyst believes that the geopolitical tensions may assist the Bitcoin price surge by slashing the current narrow trend. Yet, if BTC manages to break through the $45,000 positions then the path towards $54,000 may be cleared very soon.
Bearish Case for Bitcoin(BTC) Price
As Bitcoin also flashes some bearish signals, the head of sales at FTX crypto exchange, Jonathan Cheesman believes BTC price may shed some more gains. The 50-day MA for the BTC price is at the lower levels around $33,000 and $34,000. And hence a huge possibility the asset visiting levels below $30000 surfaces.
Many more bearish scenarios are predicted by yet another analyst, who believes the lower levels may be around $20,000. These levels have not been visited since December 2020 which is quite achievable in case the asset faces a long-term regression.
While both bullish and bearish cases form with the Bitcoin price in the near future, it would be pretty interesting to note the month-end deviations. The monthly close, specifically, the Quarterly close could play an important role to determine the price trend in the upcoming days. And hence if the BTC price closes the monthly trade above $44,000 resistance levels, then a fair chance of maintaining a bullish trend towards the ATH is quite possible.