My personal take is that I am not selling even if the correction is stepper than this, since my plan is hodl for years the better part of my crypto. I do not use leverage nor run unnecessary risks, so I can keep on with my original strategy even if big drops happen.
Traders are still buying the dip, and this is likely to continue for a while. I'm opening a new long position at $49,000. There's a good chance we'll go up from here. Those who shorted might be left out. Just my two cents...