The enthusiasm in the community is evident, given expectations around the potential approval of the Bitcoin ETF and its positive impact on the price of Bitcoin.

However, it is important to note that it is necessary to pay attention to technical aspects. For example, the current price of Bitcoin is approaching 0.618 Fib. The overall decline ($48.7k) from $69k to $15.5k.

It is important to note that this area is also related to the average price that a large number of investors paid for BTC 2-3 years ago, so they can sell and create resistance for higher prices, since according to statistics they are the only major group of losers.

If there is a stronger correction, the $30-32k level could serve as support, given that a lot of people bought BTC at this level, and it would also be testing the golden cross on the weekly chart.

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