Bitcoin has made good progress today compared to last three days today Bitcoin almost touched $60k ($59,390) as a result we have seen decent progress in other altcoins as well. Either this is a breakout point wherein bitcoin will proceed towards new ATH or a bull trap but I don't think it would be a bull trap as market just went through correction phase. What's your opinion on bitcoin at the moment?
In my opinion, the last few days the price of bitcoin is still correcting, although in the long term we can see a repeating bullish pattern but if the support at the $58k-56k area is broken then the possibility of a price decline could reach the level of $45k. Therefore, please be careful when opening positions, it is better to wait for the reversal to be confirmed first.