We went from $1200 to $1165, it's staying up nicely, so we must hope that we don't go below $1100 and I think we are reasonably ok and good to go for the next $1300 test.
I wouldn't really call that a big dump. It was a small dip. I wouldn't be surprised to see more of a drop to below $1000. The prices right now are still high so a correction is not unexpected.
I would call that little dip the correction. It was small but quite a sharp drop after it clearly went too high. There's plenty of support from investors as they slowly start to see it as stable, there's the (shouldn't be relevant but it is) hype about Japan's new laws, so generally the outlook is quite positive but in a different light as investors start to see that there might never be a good consensus with scaling but Bitcoin will be a good investment from a more "digital gold" kind of perspective.
The floor is really around $1050-1100 right now and it's unlikely to break that due to the strong resistance in the market.