The most difficult time for me in the crypto market is the time of rapid rise and big increases,
During these periods, quick and accurate decisions must be made to get out in time and no mistakes are allowed.
Delaying the exit may lead to suspension and loss of profits and capital, fatigue and waiting for years.
Also, early exit may cause you to miss out on huge profits that you have been waiting for years.
So this period is the most dangerous and terrifying for me, and I am completely free and my focus is entirely on the market.
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Here is a strategy and some ideas and tips for managing periods of rapid ascent.
First, you must know that this period is the last before the reversal and is between one and three months during which the market is full of goodness. In other words, I wait two years for this month or three months.
📌 Set specific profit targets for each currency on more than one resistance exit area and determine them using technical and fundamental analysis. Your analysis must be logical. And be committed to the goals.
📌 Dividing the exit from investments
Don't sell all your coins at once at one price.
Sell parts when you achieve each of your pre-set goals.
📌Using technical analysis
Take advantage of technical analysis tools such as support and resistance, reversal patterns, or any school you master, while integrating more than one indicator, the most famous of which are the Relative Strength Index (RSI) and the MACD, to determine the trend, weaknesses, and appropriate exit.
📌Follow market news and developments continuously.
📌Avoid making decisions to enter or exit the market based on emotions or fear of missing out (FOMO). Keep calm and follow your goals and pre-planned strategy.
📌Do not move between currencies and do not chase green candles.
📌 Do not re-enter after exiting the market, no matter how tempting it is, and stick to the plan and goals.
This, and God knows best, and we ask God to grant success to everyone.🌹