TIPS FOR TAKING PROFITS: Identifying Tops for You to Note 🚀
If you don't know how to take profits reasonably, there are only two possibilities: 1 is buying the top, 2 is missing out on the big upcoming wave. 😅
Generally, when looking at a coin's chart, we will see the following stages:
🤑Accumulation → Pump 1 → Re-accumulation → Pump 2 → Re-accumulation → Pump 3 → Distribution.
🔥For those who love technical analysis, Fibonacci retracement will be an extremely useful tool, especially on larger time frames. But here’s a small tip for newbies: if a trendline breakout occurs, 90% of the time afterwards, the price will return to retest the trendline before continuing to run with the trend. 📉📈
If you follow a simple style, just look at how many green candles there are, and that's the time to sell 😁. Or you can also close based on Marketcap, TVL, or Volume (price increases but volume gradually weakens). This is a sign that funds are being withdrawn, whales/MM are starting to exit gradually, the price increases to lure FOMO investors in, and then they will wait to close with a nice candle. 🧐
So, what will your profit-taking rules be? Everyone should have their own strategy based on percentages! Here’s how I do it with $1000:
👉Close 20% on pump 1.
Wait for the next accumulation zone.
👉Sell 30% on pump 2.
Wait for the next accumulation zone.
👉Sell 40% on pump 3.
Keep 10% for long-term holding.
🦄Why keep 10%?
Remember the #front I shared, price 0.15 then up to 0.7. That’s 10% profit, and if the uptrend continues, 10% x10 means 100% profit. 💯
Tips for Predicting Market Tops 📊
Monthly Stochastic indicator hits peak (above 80+).
%K crosses above %D.
Monthly RSI hits peak (above 70+).
RSI crosses below 14SMA.
Just follow these tips, and you will easily take profits at the right time without worrying about buying the top or missing the next wave. Wish you success, and remember to adjust your profit-taking rules accordingly! 😎✌️