When bitcoin broke the ATH of 2022 this year and climbed to $73k before it started dropping down, some predicted that bitcoin couldn't drop below $50k again this year, which Bitcoin has proven them wrong.
I'd argue that they were right with their predictions. Most investors rely on daily candles and see them as an indicator of market strengths and weaknesses. Since bitcoin is largely shallow and it's easy to get an hourly candle that gets nullified within the next 2 or 3 hours. The stable level that was defended was around $53k and there indeed was a wick down to 49500, but all that it showed is low market depth at that exact moment.
IMO if we go to $100k we can expect a 60% correction from there, so $40k is in play. The higher we go with the FOMO the higher the bottom will be. With $120k top, I would expect $55k to be the low point.
If we go lower, I'd start buying at $60k anyway. 50% is always a great moment to buy. If we went to 40k this year, I'd probably be selling all my stuff to get more bitcoin.