Gold has been retracing against BTC for a little bit now. The 1W SCMR chart is not bullish and the 1D is falling out of the cloud. Unless the price gets back into the cloud Gold will continue to under perform against Bitcoin. I find GLD to BTC important because both are battling each other as the best option for capital flight and/or a way to hedge against global instability.
If the price can't get back into the cloud the H&S will play out, and there is little support so it will likely test the all time low again.
If the price can't get back into the cloud the H&S will play out, and there is little support so it will likely test the all time low again.