BTC/USDT - Retracement?

I am looking for shorts or staying out of this pair until we hit a level that mitigates my risk. It's too high to buy and we have hit a 161/8% fib profit target to the pip. Price could go further than this or could begin mean reversion. Usually after a move like this price comes back to 50% of the move to attract more bulls. I am looking at various levels to get back into the trend.