I'm actually surprised that Bitcoin reached this level, because I was expecting a correction to happen much sooner, but now I kinda don't want to believe in major correction and hope that ETF and halvening hype will keep the corrections small and short while the up movements will be massive. Although the previous bull market was wild with unprecedented deep corrections, so this is on the table now too, but seeing below $30k again would be quite sad.
I guess this could be the problem; Bitcoin likes to take the path of maximum pain for speculators. In 2023 this was continued upside, as many took profits too early and others got liquidated shorting the price. Now the path of maximum pain would be a return to $30K support imo, or lower, now that many speculators still anticipate higher levels since the ETFs have launched. Personally I'd be happy to see $30K again within the next few months, followed by healthy consolidation around $40K leading into and after the halving. It seems like much of the market was under the impression that Bitocin was in a "never-ending" uptrend, or new bull market, but so far in it's history this has never been a thing prior to halving. Corrections always occur eventually, and when they do and the trend shifts from bullish to bearish, they are usually quite severe.
