Bitcoin’s dull range-bound action is likely to continue for a few more days as the bulls and the bears battle for control of BTC price.into the spot Bitcoin exchange-traded funds on May 3 and May 6, the tide turned on May 7 with an outflow of $15.7 million, according to Farside Investors data.
On the other hand, if the price turns up and breaks above $162, it will indicate that the corrective phase may be over. The pair could rally to $185 and later to $205, which is likely to act as a stiff barrier.) price action over the past few days has formed a tight range between $0.57 and $0.46. Traders generally sell near the resistance, and that is what happened on May 6.
Alternatively, the advantage will tilt in favor of the bears if the price slips below the moving averages. The TON/USDT pair could then slump to the solid support at $4.72.It is difficult to predict the direction of the breakout with certainty, hence it is better to wait for the price to start a directional move before placing large bets. If the price breaks above the 20-day EMA, the ADA/USDT pair could rise to the 50-day SMA and later to $0.57.
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