The reader’s understanding of “this” affects their reading of “thy love.” If “this” is the speaker’s love for the youth, then “thy love” could refer to the youth’s love for the speaker: the speaker’s portrayal of his consuming love makes the youth love him more. If “this” is the speaker’s aging, then “thy love” could refer to the youth’s self-love or narcissistic love of his beauty: in watching the speaker age, the youth loves his youth even more. “Thy love” could also be a syntactically fraught way of saying my love for you, “thy” characterizes rather than possesses “love”, which would mean that the youth’s ability to perceive the speaker’s internal anguish makes the speaker’s love for him more strong.