Bitcoin's price has failed to reach new heights, sparking a correction that has left investors wondering if the bull market is still alive. Despite breaking above a descending channel, the price has struggled to maintain momentum, leading to a fake breakout. The RSI's drop below 50% indicates bearish momentum, suggesting a decline to the $60K support zone is possible.

However, the 4-hour chart presents a more optimistic picture. The price has consolidated within a horizontal channel, and a breakout could lead to a retest of the $72K mark. Conversely, a channel breakdown would pave the way for a drop to $60K.

While the correction may seem daunting, it's essential to remember that the bull market might still have legs. The key is to stay vigilant and adapt to the shifting landscape. As always, it's crucial to conduct thorough research and consider multiple perspectives before making investment decisions.

In the ever-changing world of cryptocurrency, staying informed is key. Stay up-to-date with the latest news, analysis, and insights to make informed decisions. Remember, the cryptocurrency market is unpredictable, and only time will tell if the bull market will continue or if the correction will deepen.