Can you stand over the top tube with both feet on the ground? For a typical bike this measurement works okay for a typical person. If you can't straddle the bike, then it doesn't fit. The real question is - how typical are you?

Are your legs longer (or shorter) than average for your height? If the bike fits your legs but your legs are long for someone of your height, the the bike might be too long, meaning the handlebar might be too far away. If so your back will get tired riding it. Better to have it slightly small than slightly too large.