Bitcoin’s narrow range trading is likely to end soon with a volatile breakout, which would also provide direction for major altcoins.
in the past week. That brings the total inflows of three consecutive weeks to $470 million, indicating a positive outlook.Large investors could be turning positive on Bitcoin because they anticipate a huge inflow of traditional finance money if the U.S. Securities and Exchange Commission approves a spot Bitcoin exchange-traded fund .
The pair could ascend to $32,400, where the bears are expected to again mount a strong defense. If bulls do not allow the price to fall below the 20-day EMA, the pair is likely to soar toward $40,000. Time is running out for the bears. If they want to make a comeback, they will have to quickly pull the price below $29,500. That could start a decline to the 50-day simple moving average of $28,312.
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