What to do? Sit back, relax and enjoy the ride. If you think "it is quite obvious that this is not the right time to buy bitcoin" then don't buy. Who says you have to do anything? If you don't want to buy at this price, just wait for it to dip until it hits a price you want to pay. If you need money that badly, get a second job. If you think the price will go higher, then buying and hodling is an option. It has always worked for me. If you want to grow your bitcoin hodlings through trading, then just trade a small percentage.

If you sell all or most and the price doesn't go down, but gets increasingly higher down the road, then in a few months or so from now you will be asking the same question, "What to do? Buy back in at a loss or what?"