Unpopular opinion for one of the most bullish coin at the moment
We have had one of the best rally with GMT for the past few weeks. I think a lot of people will start taking profit. If BTC push to 49K or consolidate at current level, we might hit $1.14. That area ($1.14~1.2) is going to be safe to short.
As for me, I personally executed a small amount of short position at $1.045 with a risk reward ratio of just 2.
As for entering LONG position, I would personally wait for a retest to $0.8 area.