WHEN SHOULD I SELL?
Before you begin to think of reading a long copy, I want to remind you that selling is entirely your business!
Saying “Crypto is volatile” is akin to playing “Jingle bell” every Christmas. You just can’t escape hearing that song.
Same way you’d never escape huge market corrections as long as you never sell anything.
You know price will likely pump in a bull market, and when it does, it’s not going to go up forever. If you don’t accept this fact, thank you for being the whale’s exit liquidity! (shake’s hands).
When you invest in a token, your decision pointers are usually fundamentals ahead of technicals. Technicals are very helpful with price projections, but not so much for new tokens with little or no price history.
Tip: technical analysis is more important for trading than long-term investing.
You’re in those to dare my friend. New tokens pull up more surprises because they have little or no support/resistances. The risk/reward is usually huge.
You can ask for clues, but waiting for a mentor to tell you exactly when to sell is irresponsibility! You could sell and it continues to pump; or wait for the target and it never gets there.
On/off financial markets, irresponsibility leads to blame games.
The market doesn't always care about your analysis/projections.
One good way to analyze price projections without T.A is by comparing market caps of a new token v that of another industry leader under the same narrative. https://www.marketcapof.com is a cool tool you can use for this.
You may already know that coingecko/coinmarketcap are popular coin ranking tools. Visit any of them, click on the category and find a trending narrative. For instance, OHM forks. Pick one or two & do your research.
When you find a good one, you can go to “marketcapof” and compare what the price will be at the current marketcap of the industry-leading coin (that tool is super easy to use, trust me).
If you don’t think the marketcap of the new token can get there for a reason or two (one could be that the Bitcoin bullrun could be running out of steam soon), you can slash that cap/price in half. This helps you keep modest targets.
Anyways, the ultimate point here is that selling is your responsibility. This includes when you’re trading with an expert’s signals (paid/free). The rightful thing they should do is give you target areas on the charts. Where you pick is dependent on the level of risk you’re willing to take on.
No one’s freaking gonna tell you what to do with your hard-earned money!
Take responsibility!