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.