Bitcoin Price Analysis: Will BTC Reach $30K After Recent Recovery?

Bitcoin and several major altcoins turned up sharply on March 29, indicating a bullish sentiment. Bitcoin is up about 71% in Q1 2023, the first positive quarter after four consecutive quarters of negative returns in 2023. Traders typically buy the pullbacks to the 20-day exponential moving average in an uptrend. The bulls are trying to cement their dominance further by thrusting the price above $28,868. If they succeed, the BTC/USDT pair is likely to soar to $30,000 and then continue the rally to the critical resistance at $32,500.