#BTC/#XAU is a very informative chart.


The peak on the left shows maximum $BTC strength against $Gold and this coincides with the wave 4 low on the #Gold chart.
Gold then appreciated whilst #Bitcoin declined over the same period showing perfect inverse correlation.
More recently we have had BTC resilience and Gold weakness.
We can therefore look at Gold which is influenced by #Inflation and deduce where BTC is going.
Gold looks set to fall further and so we should likely see further appreciation of BTC in the short term.
As a result I will hold off shorting BTC for now
BTC0.27%
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