It sounds great when I hear lots of trader and crypto investors keep asking this question, " Is bitcoin hitting a 100k this week ?", well the right answer is; I don't know. I understand people are curious about seeing BTC at a 100k and hoping to see more highs. the thing is, bitcoin is a will gem and whatever highs we see now is just a scratch. However, people who had the opportunity to buy/ invest earlier were most fortunate. Bitcoin will get costly and costly and costly to point that buying to hold for profit with $1000 will become a very useless investment, which will make most people shift their focus to alt.
BTC IS PUMPING, ARE WE TAKING PROFITS ?
One of the reason why losers are losers is because the always think that the trend will continue forever. They become greedy and keep holding to the peak with no thoughts of taking profits from their investment. It happens all the time. people are so much confused with themselves and the market. they keep holding until the market phase changes, sending them back to their entry level or even lower than their entry level. Then they will begin to wish they should have sold earlier at a particular level gush!! all sick and tired!! , they keep repeating the same thing out of greed or maybe mis-information and lack of adequate market knowledge.
WHAT'S PROPER HERE ?
well If you asked me I will say; " be greedy when men are fearful, and be fearful when men are greedy". Market moves in phases, to which we have the accumulation phase, expansion phase and distribution phase. But the problem here is the difficulty to recognize these phases by most individual market participant. well consider the accumulation phase as a period of stocking your warehouses with goods, and expansion phase as the period of injecting/ influencing prices as the result of scarcity to appreciate, and distribution phase as, selling out your stocks to gain from the market appreciation. there after, you repeat the process. although the distribution phase is something similar to the accumulation, but the difference is in placement. the accumulation phase is categorize by after a long period of downtrend, follow by consolidation before expansion to the upside which
send us into a bullish trend. while a distribution phase is categorized by after a long period of an uptrend, consolidation follows before expansion, sending us into bearish trend. I know right now you might begin to asked; "with all being said ,how do I keep my profit?"
***HOW DO YOU take ROFIT?
Well there are different strategy to gradually take profits , but lets discuss just one; set a sell limit order at specific price levels to sell automatically , this way, you will find it very simple to sell your holding at favorable market price, while buying back at key levels when the price of the asset is decreasing.
CONCUSION
It is important to note that crypto asset is very volatile, offering many opportunities to every trader, but you need to see this opportunities and grab it, by doing what you have to do according to the phases of the market.
