INSUBCONTINENT EXCLUSIVE:
Bitcoin has largely remained unaffected by US Federal Reserve's hawkish stand and Ukraine crisisOver the past two months, as global asset
markets were whipsawed by an increasingly hawkish Federal Reserve and then Russia's invasion of Ukraine, Bitcoin remained stubbornly in a
asset class? Or a convenient tool for sanctions evasion crying out for stricter policing?For technical analysts, the discussion is of a more
prosaic nature; namely, identifying the numerical levels and trading patterns that might signify a sustained trend break - something that
could nudge Bitcoin out of its range and usher in either a strong recovery or another bear market
technical support and resistance levels
Bitcoin will encounter its next resistance in the $50,000 to $51,000 area, she said by email Thursday
to Ron William, founder of RW Market Advisory
He cites so-called accumulation patterns, which have recently been supported by safe-haven flows triggered by the escalating geopolitical
exchange FTX, points to the 50-day moving average as well as recent lows around the $33,000 and $34,500 as levels to watch - with $29,000
He says it's both a psychologically important level and a target in a long-term regression analysis
