During the correction phase, many traders actually used it to buy and eventually the price rose again, until it consolidated, which can be said between the seller and the buyer is balanced, so that later a trend will form again after breaking through support or resistance.
Well there was a crash on the last Saturday morning and the that was in three hours time crash to 45k and therefore I would assume someone bailed hard. This was not a correction because that would be gradual and more organic than this sudden dump.
After this the buying trend had come back in again and currently the price is back at 50k, we should be expecting some more dumps to happen so keep buy orders open at lower prices of 45k and 40k like I said in my previous posts.
If the level of 55k breaks and goes up, we can assume the bull trend is back in once again and that this dump had nothing really to do with any sort of "correction".