XAUBTC showing BTC weakness
The true indicator for me of BTC being bullish is always how it performs vs gold. XAUBTC is far clearer than BTCUSD.
A true bullish asset is bullish vs the class leader. Aka antifiat, gold.
When a H&S fails, it should be expected to fail violently. Meaning XAUBTC is aiming to go higher, and BTC has further downside to go.
We are at the edge now, stay tuned. This can turn nasty quickly.
I'm already short as the original call top and holding.
A true bullish asset is bullish vs the class leader. Aka antifiat, gold.
When a H&S fails, it should be expected to fail violently. Meaning XAUBTC is aiming to go higher, and BTC has further downside to go.
We are at the edge now, stay tuned. This can turn nasty quickly.
I'm already short as the original call top and holding.
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