$BTC It goes without saying that the dollar will underperform over a sufficiently long time frame relative to many assets or indices like SPX, GOLD, or BTC, because more dollar paper will be printed. However, during certain periods, when the dollar displays relative strength against global fiat currencies, the dollar can outperform these assets/indices in the short term, which has historically provided good long-term accumulation opportunities.

Over the past few weeks, we have covered many such indices to forecast BTC's underperformance relative to SPX, RUT, or DXY, which has helped us remain cautious. If DXY returns to the 100 area, I believe the dollar will continue to outperform these assets over the coming months. For GOLD, the scenario plotted in the chart below could be a realistic scenario, which would provide you with a good accumulation opportunity, after which GOLD will move higher against the dollar in the coming years. This index has already shown a 1W bearish divergence.