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By "all in" I mean all saved fiat. I own an appartment and a car. With my current profit from Bitcoin, I have the same amount that I will obtain from my salary for the next 20 years until I retire. And I usually save 2/3 of my salary which I convert immediately into bitcoins. Am I at the "fuck you" zone? Not yet, as I have to ensure my retirement. But in the 30-40K price range I will have enough to do it at least in my country, and live happily in a nice beach villa for the rest of my life. That is why I said this is an important level to me. On the other hand, I prefer to wait for the price which I believe is achievable in my lifetime. 40K is a too low and sure target, 120K is way more chalenging but satisfying. So I have 2 plans which depend on my needs in real life. If I am convinced that 40K is the top of the next bull run before a long and nasty bear year(s), I may be tempted to sell most of my stash. But if I am not sure, I will spend only 10-20% at that price range and continue to sell up to 120K. I may use some scheme like 10, 20, 30, 40% on every 50% (or 75%) rise of the price. It is based on your suggestions, which I tweaked a bit, so the overall loss is smaller compared to selling all at 120K. It saves more bitcoins for the bigger prices! My final sell would be at 120K. Plus, anything that I buy from now on untill I start to cash out, I will keep for the time when we finally reach the moon. Will it be 500K, 1mil, etc. I don't know yet. Time will tell.
What you are planning makes sense, and almost no matter what it seems difficult to really have any meaningful sense regarding whether any blow off top would be at previous ATH (path) x2, x6 or x10 or some other amount, so I am unsure about how prudent it would be to make vastly differing plans based on your anticipation of your then feelings about whether a blow off top has been reached.
Another dynamic that I can sense that you are toying with is to consider to be able to move some of the value that you have in BTC to some other locked in and assured asset, in order to preserve your BTC profits, and I am kind of torn about the necessity to act on those kinds of motivations, even though I understand that so many people have those kinds of motivations - so none of us can really step into the comfort level of other people.
Part of my thinking comes from the Morpheus meme that you might not need to hedge so much into other investments because merely keeping some value in bitcoin will be sustaining enough based on all available options and even while understanding that BTC corrections might still be violent, BTC is still likely to sufficiently hold enough value that there is no real rush to employ rash strategies in terms of cashing out your holdings.
This morpheus meme:
