{"id":22154,"date":"2025-04-15T12:32:04","date_gmt":"2025-04-15T12:32:04","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=22154"},"modified":"2025-04-15T12:32:04","modified_gmt":"2025-04-15T12:32:04","slug":"bitcoin-eyes-gains-versus-gold-after-trendline-breakout-monero-sees-golden-cross","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=22154","title":{"rendered":"Bitcoin Eyes Gains Versus Gold After Trendline Breakout, Monero Sees Golden Cross"},"content":{"rendered":"
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This is a daily technical analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole.<\/p>\n

For the past 12 weeks, gold (XAU) has outperformed bitcoin (BTC) in a race to draw bids, but this trend may be on the verge of reversing, according to technical charts.<\/p>\n

This year, gold has surged 22% because of haven bids and arbitrage plays involving traders moving physical gold from overseas destinations to the U.S. to take advantage of premiums on Comex. <\/p>\n

Bitcoin, meanwhile, has dropped over 8%. That has led to over 25% slide in the bitcoin-gold ratio, representing the per unit USD price of bitcoin relative to the per ounce USD price of gold.<\/p>\n

However, the downtrend, represented by trendlines drawn off Jan. 20 and March 3 highs, has been invalidated this week. The ratio topped the trendline over the weekend in a bullish breakout that suggests the cryptocurrency may not outperform gold, potentially catching up with the rally in the yellow metal.<\/p>\n

The message is consistent with analysis by Theya Research’s Joe Consorti, which shows bitcoin tends to lag gold<\/a> by 100 to 150 days.<\/p>\n

\"\"<\/p>\n

The trendline breakout is accompanied by the MACD’s histogram’s positive flip, signaling a bullish shift in momentum. The bullish crossover of the 5- and 10-day simple moving averages (SMA), seen in the lower pane, suggests the same.<\/p>\n

XMR’s golden cross<\/h4>\n

The outlook for privacy-focused monero (XMR) appears constructive following the past week’s sharp recovery from $165 to over $200 that left a “long-tailed” candle on the weekly chart, a sign of dip demand.<\/p>\n

The token has broken out of a prolonged consolidation pattern, with the 50-week SMA moving above the 200-week SMA to confirm a golden crossover, an indicator representing a long-term bullish shift in momentum.<\/p>\n

The immediate resistance is seen at $242, the February high, followed by $289, the April 2022 high, with support at $200 and last week’s low of $165.<\/p>\n

\"\"<\/div>\n","protected":false},"excerpt":{"rendered":"

This is a daily technical analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole. For the past 12 weeks, gold (XAU) has outperformed bitcoin (BTC) in a race to draw bids, but this trend may be on the verge of reversing, according to technical charts. This year, gold has surged 22% because of haven […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-22154","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/22154","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22154"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/22154\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22154"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22154"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}