Bitcoin correction or The last major decline occurred on January 29.
After Bitcoin rose from $ 32,000 to reach a new high of $ 58,000.
The decline provides a great opportunity to join bitcoin, we can expect a massive bullish reaction after touching the $ 47,000-48,000 area.
Now a fairly similar candle pattern is reoccurring, with support around $ 48,000. So I can say that Bitcoin is making a corrective pattern to increase the number of buyers in order to attract buyers' power back.