A car with wavy lines beneath it. Flashing means the system is working; steady means it is switched off or faulty.
Can you continue driving?
Yes — no immediate risk

Flashing, this symbol means traction control is actively working — cutting power or braking a spinning wheel to keep the car pointing where you aimed it. Steady, it means the system is unavailable, either because it was switched off or because of a fault.
Flashing: ease off the accelerator. The surface has less grip than you are asking for, and the car is telling you so as it happens.
Steady: check whether the system has been switched off by mistake. If it has not, drive with a wider margin, particularly in rain or on loose surfaces.
If it stays on with the system switched on, and especially if the ABS light is on as well — that combination usually points at a shared sensor.