This article may disappoint you as there is no single method, pattern, or chart to help you predict cycle tops, nor is there any advice on where you should sell your crypto. and take the word. But there will be a map to help you know exactly where you can make decisions!
Currently there are many models, methods, and software to predict the peak price of Bitcoin, but you should remember that it is just a prediction, and no one can know exactly where, only when going through a bear market. and looking back, we can determine where the top of the market is, but it is important that all technical analysis, fundamental analysis, every pattern you refer to is for the sole purpose of you make the decision, the decision to buy, sell or hold really affects your profits, not the models, to be able to make the most accurate decision you can only rely on yourself Not an outside factor, the market will only give you signs that the top price zone may appear and the decision to sell or not is up to you.
The most important thing is that you have to write down your financial goal, what will you do with the profit you get from the market, will you buy the dream house, dream car, buy the things you see make sense to you, or pay off some debt… You have to know exactly why you are investing in crypto and what you do with it after you get the money is much more important than you guys. sit there and wait for the profits to increase every day and do nothing. Because of your bottomless greed, you just want more and faster but don't really know what that more money is used for? And boom… the market crashed and you just sat there and waited, waiting for it to bounce back again and slowly as the market fell and went into bear season.
You must know your financial goals very well because if then the market gives you an opportunity then it is the best time for you to take profits and realize the financial goals you want, there are many models available today. Different graphs and figures predict where the peak is, but which model do you believe in? Hard right? The type of chart, the checklist, the number that people look at to take profits is the most accurate table of your financial goals, you invest in crypto to make money, then that money helps you do things. What and if it helps you live the life you want to live, take each profit and tick the boxes of the financial goals you intend to achieve, if you don't have an anchor to anchor yourself then greed will carry you far along the fast current and you realize you have reached the end of the stream where a great waterfall falls down and destroys all the boats in the water.
Don't care and compare this person who takes more profit than you, diamond hand than you because each person has different circumstances, goals, capital amount, someone buys BTC from 5k and now they have x10, the mentality is very different from those who bought BTC at 40k and made a little profit.
And this can be a classic example, of course we don't know the back story of the owner of this house but if the owner of this house wants to build a house for his family, and that's why. due to his participation in the crypto market. Then when the market gives him the opportunity to do it, then he doesn't sell and fulfill his goal, maybe many of you will think why not hold longer to get 2, 5 or 10 houses. like that? But if the market crashes and goes into a bear market then you don't have a home, once you've accomplished your goal, where the market goes will only increase the excitement for you because you already have it. what you want when entering the market. And of course, no one can know where the bottom is and when the top is, so we have a method of dividing buy into each period and subdivide and sell according to market growth to get a good buy price and the selling price is high enough for you to achieve your financial goals, you have a few years to buy but a very short time to sell so without prior practice plus a well-defined target number in At first, it is difficult for you to make a definitive decision to press the “SELL” button.
In the previous article, I also mentioned the truth in investing that few people tell you it is emotion. You study many charts like NUPL, Stock-to-Flow, Bitcoin Rainbow, Willy Woo Chart, PTKT… and then what?
After you rely on those charts to determine the peak price area, do you dare to press the Sell button to take profits out of the market? When we sell we need buyers, when there are most abundant buyers, it is on the way up, not the price collapses and we panic sell to people who want to sell. It sounds simple in theory, that's why people love technical analysis and spend a lot of time looking at it and then not making any decisions about selling, buying, or continuing. keep holding. When you buy and sell with real money, it is closely associated with a very strong emotion, which is what makes you take the wrong and most difficult to control actions. Imagine you take profit in the uptrend, today you sell $1000 for profit but tomorrow can rise to $1,200 $1500 for example, that is a very difficult thing to do because you have to fight your own greedy emotions, that makes you procrastinate, wait and wait without really knowing how long you're waiting.
Without enough practice and a clear profit target, it is very difficult for you to fight that emotion. And to avoid the situation when you have sold all of your crypto but the price keeps going up, you can keep a portion of your portfolio so you don't get mad at yourself. 😁
The skill of dealing with emotions when making decisions is many times more valuable than the skills of analyzing charts.
Technical analysts can say entry and exit points without telling you what the accompanying emotions are, you have to ask, do they really trade with real money?
To reduce the pain of decision making, you can split and sell many different times during the bull run, and have to practice like that many times to make your mental emotions bearable. pressure to lock out more money when the market rallied strongly. The same is true when buying. No theory guys, anyone who bought BTC at 60k and now fell below 50k understands how painful it is to say, logically everyone knows BTC is correcting a few % and will recover recover in the near future but that is not a pleasant feeling is it, especially with large and important money to you.
Don't think I have to buy the exact bottom and sell the exact top to get the most profit, but really if you do that it's just luck and won't work consistently for long. and with a large portfolio, and for newbies and this is your first bull run, it's too good to catch ⅓ of the market's running price line, eg: you buy BTC at 50k and the top of the market is 200k, the running price is 150k (if you buy exactly 50k and sell at the top of 200k, you make a profit of 150k), you catch of the running price line of 50k in profit, you have done too well.
Trading with emotional resistance is never easy, it is true both when you buy when the price is falling and sell when the price is going up, if you don't practice enough and often enough, mentally You are still not used to making decisive decisions when needed, leading to hesitation and losing a lot of opportunities to achieve your desired financial goals, if you are a long-term HODLers then probably the last few years you have only buy and buy and very little experience of selling and taking profit in a short time, then this is the time when you can practice, depending on the size of your portfolio you can practice every week, maybe is to sell $10 $100 $1000 per week to practice psychology and decision making, that's not the amount you take profit, with a small amount of money, if the market goes up many times, it won't affect to your portfolio it's an opportunity for you to practice, because when the market rages and gives you an opportunity to complete your personal financial goal sheet, but if you don't practice n practice and prepare in advance, you will never hit the SELL button and take the profits out of the market, believe me, acting against your emotional instincts is never easy and only practice is continuous. A new routine helps you to do just that.
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