Being on the sidelines is a good choice at this point until there's more clarity on how the market will evolve. I'm not particularly sure behind the technical logic that BTC may have to drop further to below 80K, then makes it proper ascend to 108K and beyond. But this is what I'm mostly using as a reference point for now, in terms of understanding how things may play out in the coming days and weeks.
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The drops are healthy, they give people more buying opportunities. If price keeps going up, then it's not going to be sustainable for people to buy in. This position is the best buying opportunities but I guess the fear of the market is why many will not make the right moves