That is right all you can do as of the moment is watch and monitor the prices because it is to dangerous to buy at this price point. What I mean about that is you will lose leverage because you won't have a margin of safety when you buy it. Having a margin of safety is important when you are expected to hold your position for a long time before selling it for profit.
You def. right, I personally think buying now involves high risk as you don't know what might happen in the near future, the best thing to do now is to sit, relax and monitor the price. Bitcoin will always be here