Bitcoin boom or crypto winter? Key levels to watch on upside & downside

economictimes.indiatimes.com:

Federal Reserve and then Russia’s invasion of Ukraine, Bitcoin remained stubbornly in a range. Only the briefest dip below $33,000; never above $46,000. As the sideways trading dragged on, Vladimir Putin’s war in Ukraine — and the sweeping financial sanctions heaped upon Russia in retaliation — added fuel to a long-running debate about crypto: Is it the ultimate haven from increasing governmental overreach? Just another risk-on 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.

Did you Know?

You can earn interest like bank savings account on your Bitcoin wallet

Below are five analysts’ views on what key levels to watch, on the upside and the downside. The Bull CaseKatie Stockton, the founder of Fairlead Strategies, uses trading patterns she calls the “daily cloud” and the “weekly cloud,” trend-following indicators that help identify technical support and resistance levels. Bitcoin will encounter its next resistance in the $50,000 to $51,000 area, she said by email Thursday. Her “secondary breakout” level: close to $55,000. Bitcoin’s key tactical upside breakout zone remains between $44,550 and $46,000, according 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 tensions. If Bitcoin manages a sustainable break above key resistance at