The correction is over now. It bottomed at $30k. News of a company getting a US charter for digital currencies today plus Grayscale starting to buy again on Tuesday quickly ended the consolidation period of the correction after the drop to $30k. Bitcoin will never go below $30k now.
Never again? So sure already? We're only at $38K.
This is right smack in the middle of the OTE short zone (the 0.618-0.786 Fib retracement). In June 2017, a BTC bull trap reversed in this zone before the market completed a second leg down, crashing 40-41% total from top to bottom.
We'll only know the bottom is in in hindsight. In my opinion, not enough time or price action has passed. I'd say there is still a decent chance of sub-$30K.