Totally agree. And for that we need some people to keep selling on the way up. If nobody does this could end up in a blood bath for everyone.
This is what Ive observed a few times but its arguable to what extent selling needs to occur to establish a price securely and allow further price appreciation in a sensible way. I saw this in Feburary and kept hold on the guess it was a reasonably established price base, not that we ever know how demand can change but it was reasonable.
In a much smaller way the price has just sold off some, a mere $130 fall which is little now. The bottom pricing marks in line clearly with a previous uptrend on the medium term. Decent action possibly, its recovered 50% of that fall very quickly but if it can keep confirming to a small extent with trends I'm not especially wary despite the heady pace here. So long as it keeps displaying some apprehension by markets.
Longer term I'm told it must consolidate but its really hard to call that because of how bitcoin is so volatile, its not clear. I think fundamentals might determine price ultimately. Also watch FIAT, the FED and Dollar Index, we all live in the same world over reliant on one currency.