Technical Analysis Suggests Bitcoin Could Outperform Gold

Monero has shown a long-term bullish trend with a gold cross, leaving the consolidation pattern.

Author: Omkar Godbole | Edited by: Parikshit Mishra Updated: Apr 15, 2025 9:15 pm Published: Apr 15, 2025 12:22 pm

Key points:

• Gold has outperformed Bitcoin over the past 12 weeks, but technical charts suggest that this trend may be reversing.
• BTC could match gold in growth rates in the coming days.
• Monero has shown a long-term bullish trend with a gold cross, breaking out of a consolidation pattern.

This is a daily technical analysis from CoinDesk analyst and certified technical specialist Omkar Godbole.

Gold (XAU) has outperformed Bitcoin (BTC) in the battle for demand over the past 12 weeks, but technical charts suggest that trend could soon reverse.

Gold prices have risen 22% this year amid interest in safe-haven assets and arbitrage, in which traders move physical gold from overseas to the U.S. to earn premiums on the Comex.

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At the same time, Bitcoin fell more than 8%. This led to a drop in the Bitcoin-to-gold ratio of more than 25%, which reflects the value of Bitcoin in US dollars compared to the price of gold per ounce in US dollars.

However, the downtrend indicated by trendlines drawn from the January 20 and March 3 highs has been invalidated this week. The ratio broke above the trendline over the weekend, signaling a bullish breakout that suggests the cryptocurrency can not only keep up with gold but may even catch up to its gains.

This statement is consistent with analysis by Joe Consorti of Theya Research, which shows that Bitcoin typically lags gold by 100-150 days.

The trendline break is accompanied by a positive change in the MACD histogram, signaling a bullish change in momentum. The bullish crossover of the 5- and 10-day simple moving averages (SMA) seen in the lower panel supports this view.

Gold Cross XMR

The outlook for privacy-focused cryptocurrency Monero (XMR) looks promising after last week's sharp jump from $165 to over $200, resulting in a long-tail candle on the weekly chart, indicating declining demand.

The token has emerged from a long consolidation pattern and is now trading at a 50-week low.

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