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$BTC When it comes to BTC's relative strength compared to GOLD, it's important to understand that this only occurs locally. BTC/GOLD has reacted strongly from the macro support zone we identified in February, and we used this as a resonance point to buy BTC spot, but we closed the position at break-even after reaching our first take-profit level. This resulted in BTC outperforming GOLD, in line with our plan. From a broader perspective, BTC remains in a downtrend relative to GOLD on the macro scale. It has now reached a resistance zone, which could serve as a bearish retest. I expect GOLD to gain relative strength from this area against BTC. Ultimately, I believe the range lows shown in the chart below could be reached this year and serve as a resonance point for long-term accumulation of BTC. These would be the lows of 2021 and the highs of 2019,