Bitcoin bounces from 50-day trend line with $72K BTC price now key focus
Bitcoin (BTC) returned to $72,000 on Wednesday as gold continued its rebound from four-month lows.
Key points:
Bitcoin price performs a support retest of its 50-day moving average before hitting $72,000.
Seller interest makes the area above the day’s high of key importance going forward.
Gold and US stocks combine with crypto to seek further relief.
Bitcoin traders: BTC price needs to clear $72,000
Data from TradingView showed BTC price gains of around 2% on the day, following a retest of its 50-day simple moving average (SMA).
This trend line, previously a key resistance obstacle, looked set to remain as new low-time frame support.
BTC/USD one-day chart with 50 SMA. Source: Cointelegraph/
TradingView
Commenting, Keith Alan, cofounder of trading resource Material Indicators, tied emerging BTC price strength to hopes of dialogue between Iran and the US amid the ongoing war.
The market, he wrote on X, “seems to like the idea” of negotiations, reflected in increasing Bitcoin whale buying activity.
“Would like to see a rally to $78k, but we're starting to see ask liquidity stack just below $72k where there seems to be a bit of profit taking,” he added.
BTC/USDT order-book liquidity data with whale orders. Source: Keith Alan/X
Data from CoinGlass showed a wall of ask liquidity appearing above $72,000 into the Wall Street open. Previously, news events sparked liquidity hunts both above and below spot price.
BTC liquidation heatmap. Source: CoinGlass
“Looks like bulls have found some juice again,” trader Jelle continued, anticipating “more sideways chop” for BTC price action.
Trader Daan Crypto Trades joined Alan in expressing confusion over the reliability of reports that US-Iran diplomacy was underway.
“The one thing I care about is price action, and Bitcoin has still remained pretty strong throughout all this mess. This $72K resistance area is one that has been pretty common for BTC to test but it still has not been able to sustain above that are for long,” he told X followers.
“Bulls need to get that level cleared and remain there if this wants to have legs and go test the $80Ks again.”
BTC/USDT perpetual contract four-hour chart. Source: Daan Crypto Trades/X
Gold rebound continues after $4,100 slump
US stocks and gold copied crypto in a relief bounce on the day, with the latter reclaiming the $4,500 mark after a trip to its lowest levels since late November 2025.
Related: Bitcoin value ‘off the chart’ as BTC price metric hits record lows in 2026
XAU/USD one-day chart. Source: Cointelegraph/TradingView
“Gold bounces upwards after taking the liquidity beneath the wick. Classic price action,” crypto trader Michaël Van de Poppe responded on X while analyzing the XAU/USD daily chart.
“I think that we'll slowly see the volatility wind down in Gold as it has established a range. Upper side of the range is $5,000-5,100. The lower end of the range is $4,000-4,200.”
XAU/USD one-day chart with RSI data. Source: Michaël Van de Poppe/X
Last month, Van de Poppe eyed early signs of a transition from gold to Bitcoin products from institutional investors.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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