Gold & Bitcoin Rising from 18-Month Cycle Troughs | Christopher Grafton

General outlook: US Dollar Down (-> 40D trough). Gold Up (-> 40D peak). Oil Down (-> 20D trough). Copper Up (-> 40D peak). USDJPY Down (-> 80D trough). EURUSD Up (-> 20D peak). SPX E-minis Up (-> 20D trough). Nikkei futures Up (-> 40D peak). Bitcoin Up (40D trough). Ten Year Notes Up (-> 20D peak).

Gold broke out of its base after an 18-month cycle trough and is heading toward the next 40-day cycle peak.

Gold (daily bars)—still looking for the next 40-day cycle peak. Up.

 

Gold (XAUUSD, weekly bars). 

In early July, Bitcoin bottomed in an 18-month cycle.

Bitcoin (daily bars) now emerging from the 40-day cycle trough zone. Up.

 

Bitcoin (BTCUSD, weekly bars).

 

Reference:
Christopher Grafton (August 5, 2026) - The Macro Brief - 5 August 2026.