Bitcoin and altcoins find support in the bottom half of their current range, but excitement over spot BTC and ETH ETFs launching in Asia could spur a breakout.
, according to data from CoinGlass. Bitcoin bulls could continue to face challenges in May because the month has produced a negative monthly close for the past three years.for three consecutive days from April 24, per Farside Investors data. This suggests that traders are cautious and are waiting for Bitcoin to resume its upmove before buying again.Even as Bitcoin searches for direction, select altcoins may start to perform.
Instead, if the price breaks below $3,056, it will suggest that the bears remain in charge. The pair may then slump to the pivotal support at $2,850.) has dipped to the moving averages, an essential support for the bulls to defend if they want to maintain their advantage.If the price skids below the moving averages, it will suggest that the bears are fiercely defending the overhead resistance at $635. The BNB/USDT pair could then descend to the strong support at $495.
If the price rises and breaks above the 20-day EMA, it will suggest that bulls are attempting a comeback. The buyers will gain strength on a break and close above the 50-day SMA .
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