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.
I would agree that "never again under 30k" is a big talk, think about grayscale ending up selling ALL their coins, we are talking about over half a million bitcoins, not half a million dollars by the way, half a million of BITCOIN, that would make bitcoin go under 1 thousand dollars probably, there isn't enough money in the market to cover that, even though it wouldn't be anything fundamental changed in bitcoin so I would end up buying, it would still crash until we cover it.
I am not saying that will happen, but never remove the possibility of rich people doing rich things, that is why I would never say "it will never go under 30k dollars again". Best I can do right now is "there is a high chance it will never go under 10k again" because that seems quite possible, we had 3k as number we never went under, and now it could be 10k by now due to the increase, but that is highest I can go to.