- January 7, 2021
- Posted by: virtualxstore
- Category: trading
Right now we’re approaching the all-time high so expect some resistance.
The best thing to do right now is to take at least some profits and let others fight for this zone because don’t forget, profits are yours only after you take them!
You can then buy back in again once we see a breakout.
FYI : Long term I remain very cryptos but not because I’m necessarily a believer or Hodler but simply because price is telling me that there are a lot more gains to be made in the coming months and years.
But, short term, I take profits and often close most of my positions simply because I don’t want my money to sit doing nothing when there’s a big correction coming.
And even if price keeps on going higher when I get out, I’m not necessarily bothered because I can simply buy back in again.
I rather miss 5%-10% of gains rather than lose my sanity and hair holding during a big correction.