I think after a certain point a BTC increase will not result in a decline in the XMR/BTC price anymore, because most traders/investors that want to
jump on the BTC rally have already done so. At this point the rally is most likely not a rally anymore.
After the heavy retrace it looks to me like it is going for a second leg upwards, which actually already started. Bear in mind that we are up over 100$ from the lowest point of the retrace.
What I meant to say was, that at the point where most traders/investors are onboard, it's most likely a turning point and not a rally anymore, as it simply would lack fuel to keep the rally going.
I did not mean that this particular rally is done.