If you are in a long term long and have been averaging in since near the bottom at the end of last year or so then it's probably a good time to start thinking about taking some profits. I think I'm around %170 up at the moment....I can't complain about that.
The big question is if there is a retrace ( which there has to be at some point ) will it go deep enough to be worth taking some of your position out and popping it back in a bit lower. For tax reasons in my country I always think around a %20 drop would be worth it and that is probably the sort of correction I would expect at some point soon.
I'm not over leveraged so their is no reason to sell my btc unless I think the market will drop substantially and not recover quickly. Even with all the crashes in recentish btc history if you hold your btc you will see better returns than holding that value in a bank account with a deflationary fiat currency.
The trade off we see here is between less exposure to risk and a potential for safe accumulation vs parabolic gains and a blow off sell at the top situation you could miss out on big profits. It could also just continue to creep higher for months. Unlikely but you never know. All these options must be considered.
I would argue we have already had great profit so far and it can't climb forever. I feel like perhaps soon we will run out of steam but I would be hesitant to call when or either way. This could be a turning point especially with this triangle that has formed.
I have set alarms on the upper and lower trend line of the triangle and will act accordingly depending on the movement when it happens
I'm ready to sell or buy quickly and will be watching cautiously with patience! The other alternative would be to setup exchange buy/sell orders but I have limited fiat on/off ramp options where I am and would rather avoid exchanges where I don't have my keys or stablecoins for now.
I hope you find this useful!
The big question is if there is a retrace ( which there has to be at some point ) will it go deep enough to be worth taking some of your position out and popping it back in a bit lower. For tax reasons in my country I always think around a %20 drop would be worth it and that is probably the sort of correction I would expect at some point soon.
I'm not over leveraged so their is no reason to sell my btc unless I think the market will drop substantially and not recover quickly. Even with all the crashes in recentish btc history if you hold your btc you will see better returns than holding that value in a bank account with a deflationary fiat currency.
The trade off we see here is between less exposure to risk and a potential for safe accumulation vs parabolic gains and a blow off sell at the top situation you could miss out on big profits. It could also just continue to creep higher for months. Unlikely but you never know. All these options must be considered.
I would argue we have already had great profit so far and it can't climb forever. I feel like perhaps soon we will run out of steam but I would be hesitant to call when or either way. This could be a turning point especially with this triangle that has formed.
I have set alarms on the upper and lower trend line of the triangle and will act accordingly depending on the movement when it happens
I'm ready to sell or buy quickly and will be watching cautiously with patience! The other alternative would be to setup exchange buy/sell orders but I have limited fiat on/off ramp options where I am and would rather avoid exchanges where I don't have my keys or stablecoins for now.
I hope you find this useful!
Investoor from New Zealand.