BTC surges nearly 5% daily while analysts spot positive 'shift' away from gold
BTC approaches a critical 200-week moving average resistance as bullish forces maintain upward price pressure.
Bitcoin (BTC) surged to $67,000 during Wednesday's opening of Wall Street trading as bullish momentum overcame recent US tariff announcements.
Key points:
- BTC experiences continuous recovery momentum with price action climbing beyond $67,000.
- A critical long-term resistance line returns to traders' attention, placing emphasis on the weekly candle close.
- Analysis of gold markets shows an emerging RSI divergence pattern against Bitcoin.
BTC price approaches critical 200-week trend test
Information from TradingView indicated that BTC price experienced daily increases of 4.5% as the local recovery trend persisted.
The leading cryptocurrency demonstrated resilience despite U.S. Trade Representative Jamieson Greer's statement regarding 15% tariff implementations, potentially taking effect "within the coming days."
"So right now, as we talked about, 10% is in place. There will be a proclamation raising it to 15% where appropriate," he told Bloomberg.
While tariff-related news has historically triggered significant volatility across cryptocurrency markets, the magnitude of such impacts has diminished in recent months.
Having already benefited from a break in persistent downward pressure, BTC/USD consequently moved toward a significant long-term threshold represented by the 200-week exponential moving average (EMA).
As previously covered by Cointelegraph, the loss of this level as a support zone has historically served as a reliable bear market indicator.
Providing commentary, trader and analyst Rekt Capital reiterated previous analysis from earlier in February, highlighting that the forthcoming weekly close needs to settle above the 200-week EMA, currently positioned at $68,330.
Trader Castillo Trading similarly focused on weekly timeframe analysis, identifying a possible upside objective around $74,500 — representing Bitcoin's 2025 yearly low points.
BTC shows potential RSI bullish divergence against gold
While gold continued trading above the $5,000 per ounce threshold, crypto trader, analyst and entrepreneur Michaël van de Poppe identified encouraging signals for Bitcoin bulls to maintain confidence.
"Interesting enough; There's a strong bullish divergence on the daily chart of $BTC vs. Gold," he told X followers on the day, referring to the relative strength index (RSI).
"It's not confirmed, but given the recent strength (today and yesterday) in Bitcoin, I think a slight rotation is starting. It's about time."
This kind of reversal in capital movement patterns would contradict prevailing market sentiment from earlier in the year.
As previously reported by Cointelegraph, certain analysis had even determined that Bitcoin failed in its mission to become "digital gold" following its decline from October 2025 all-time high levels.