Besides Bitcoin, during the past week, we saw Etherum also dip seriously against the dollar, breaking previous supports and moving as low as 530; Is this just Etherum making a correction or should we expect more moves to the downside. HODL or Sell?? 
Bitcoin price action determines the market movement. Right now, market is too young and no one is trying to value other coins than BTC. Institutional money is waiting to enter BTC. If BTC can gain institutional recognition and become store of value, perhaps a decoupling could take place where each coin is valued fundamentally and market doesn't move according to BTC. Right now, I think more correction is due but that won't be a deep one. You can hodl right now with a stop loss of 10%. I expect BTC to jump back after touching $5800 and their won't be any further correction. So, a stop loss of 10% can save you.