There was a local low at FWB:48K in March of 2022.
The Fib retracement level .618 between the ATH of SWB:69K and cycle low of 16k is at FWB:48K
Many traders are talking about exiting at this level, which will bring selling pressure
I can understand HODLing through the ups and downs, but if you're long with leverage, 48k seems like a great place to exit a trade.
I know I just made a price prediction for 136k for Bitcoin, but I think a temporary retrace is likely. Especially if the ETF is announced, and many traders exit to take profits.
"Buy the rumor, sell the news." We are in the rumor stage, people.