Here’s how to exit the bull run this year!
Everyone knows how to get in – but where do you get out?
It’s become glaring by the day that we’re about to go full alt season mode!
ETH is about to break its ATH (All-time high) and this will trigger a lot of altcoins to move hard.
Pretty much everyone in crypto (who is doing the right things) knows they’re going to make money, but the burning question remains the exit plan.
When are you going to sell? You don’t want to sell too early and miss out on the big gains. And you don’t want to sell too late like those who saw all their gains washed away in 2017.
We’re going to have drawdowns that’ll weed a lot of people out only to see the alts market cap go 1000% more.
So here’s what you need to do:
First, accept that you do not know the top! Actually, no one does. Some technical indicators will become irrelevant – so things like overbought will make no sense – for an extended period.
Have some bags where you steadily take profit for trade purposes (don’t HODL away all your gains). The market will retrace and you can buy back lower.
Put away your gains safely and be cautious about spending (bears will be back someday). You can use some of it to compound while the bulls remain.
You’ll never sell the exact top – so sell some for profits along the way. Accept the fact that you’ll give away some gains (everyone will). But you don’t want to give away too much.
Keep an eye on the altcoin market cap dominance for when it matches at least half the height from the last bull run.
Here: https://www.tradingview.com/chart/cNW7kXMG/
20-30% drops are common in bullruns (people need to take profit); but when you start to see 50% drops, it’s time to exit the market completely!
We should have all summer for the bulls. for now, enjoy the fun.
I hope that we’re all able to change our lives this season. Cheers!
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Let me tell you a story.... back in late March I bought a ton of stocks. Amazon, Google, the Apple, the majors and also so big picks... Twillio, Shopify, some good Chinese ones... my plan was to have the market bounce back and sell. It did more than that....
But I sold after making just 15% having bought in at a bottom that meant it was almost impossible for me to lose my investment.
I was new to stocks and new to that sort of money. I came into a chunk of money just prior to the crash. I could have made so much in the last year has I held on to those stocks.
Anyway... I made a couple grand and I still had the money. Scared to get into the stock market with fears of another crash, I had faith that the crypto market was more resilient having pushed back quicker. I have a lot of bags. BTC ETH LINK XLM and I bought few more little ones like EWT and DOT. I have made a lot this year... and I am wondering if it is time to take my wins ans walk away from the table.
My thinking before...
But I fear that I am about to make the same mistake. Selling up just before a major run.
I regretted those stock sells for ages... only my gains in crypto have made me forget about them.
Am I about to make the same mistake again? In your opinion. (I get it... this is not financial advice blah blah blah)
May this bullrun make us rich