Is the trend now still going up? What about its price correction, when will bitcoin correct its price?
At this point the trend is still up, but we're close to a point where things might become very interesting. In case we do manage to break through $20,000 in the coming days, perhaps weeks, we'll see the rush continue to extend further. If we remain below $20,000 for a while, we'll likely experience a short term decline. How far we'll decline remains to be seen since it depends on how much panic there will be, whether or not deep pocket entities are looking to pool their efforts together to get the market to sink as deep as possible to shake off weak hands, etc. If you're not a trader, then just keep holding through all this, because everything that happens is nothing more than a short term occurrence.
Good point. Getting to $20K and maintaining at its level is 2 different things. Because $20K is the new mental barrier for most traders, such barrier that they will might immediately jump at it and cash it out for easy profit causing the price to go down at significant levels. There are a lot of manipulators still, and we don't know what they will go once the price goes to $20K.
So yeah, holding is the only logical thing to do if you can't buy at this range. And then try to observe the trend. If you really think that its best for you to cash it out when it goes to $20K then by all means dump a few and enjoy your profits this Christmas holidays.