If $30k breaks down, the price could reach $20k very quickly.
The markets are lacking clear direction right now.
If the price does not rebound to 1.2250, the technical picture will become more bearish.
The GBP/USD price retreated in early trading as the US dollar firmed ahead of the latest US GDP and inflation numbers.
The BTC/USD pair declined sharply during the Asian session as investors rushed to take profit.
The AUD/USD rose in early trading as traders reacted to the latest interest rate decision from New Zealand and the strong house prices data from the United States.
The EUR/USD retreated in the overnight session as investors reflected on the strong home prices from the United States.
The BTC/USD tilted higher as investors placed their bets that the Federal Reserve will hold its monetary policy steady even as US consumer inflation rises.
The GBP/USD price is in a tight range as investors reflect on the upcoming full reopening of the UK economy and the relatively robust numbers from the United States.
A breakout beyond 0.7779 would be a bullish sign.
Bullish price action above 1.2250 will indicate a major breakout.
The GBP/USD is in a tight range as market participants reflect on the strong economic data from the United States and the UK.
The BTC/USD rebounded on Monday after crashing to a multi-month low of $30,000 last week.
Bitcoin just halved in value in less than one month.
The pair is not far from a new 2-year high price.