GBPUSD has created a wonderful sell opportunity after rallying to multi-year highs.
A cross pair analyses of GBP shows that GBP is now showing bearish signs across many other currencies and is highly likely to reverse to the downside for a retrace.
Main target is the strong 1.40 level which happens to align with the 4 hour 200 EMA (Exponential Moving Average).
This is very unlikely scenario for Bitcoin in my opinion. But I am still posting it, for those who dont want to buy BTC for 50k or 40k... If we will see this cycle of bitcoin sell off after 2-3 years as it was in history in 2014 and 2018, the area around this curve after 80-85% decline (10-15k USD) would be the best opportunity for buying crypto currencies.
Indecision on the market is changing to a clear bearish mood
And the price action on the lower timeframes is clearly supporting this narratve
Therefore, I think now is a good idea to go short
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Bitcoin is dropping from my last danger zone, now I am predicting a new one around 55k.
We can drop straight down from here but most likely we will have one last bounce higher to 55k before dropping.
Price target is 15-20k.
Short BTC. Haters Welcome.