Bitcoin's recent price action has left many investors concerned about a potential bear market. However, a closer look at the charts suggests that the current correction may be a healthy pause in an ongoing uptrend. The 50-day moving average remains strong, and the RSI is not overbought. A bounce off the current levels could lead to a renewed push higher, but it's essential to wait for a confirmation before making any buying decisions.

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The charts do offer a more optimistic view, and a bounce off current levels could be a good buying opportunity. However, it's crucial to wait for confirmation before making any moves.