Price and portfolio targets are stupid. Here's why.
In the last cycle, people hit themselves in the hopes of reaching some arbitrary number.
in many cases it was $100k BTC or they had a target number in their personal portfolio in mind, be it $100k, $1m, etc.
There's no point in risking your entire portfolio just to hit some random number.
Instead, do two things:
1. Stay adaptive: If your target is 10x but the market starts to look choppy and your portfolio is only 4x, then take profits. It's better to walk away with 4x than to lose completely.
2. implement a gradual profit taking system: for each coin you buy, develop a plan where you will withdraw a set % at certain multiples, for example, every time $SOL grows by +50%, I will withdraw 10% of my position.
As the cycle progresses, you can become increasingly aggressive with profit taking. The key is being able to assess where we are in the cycle and position ourselves accordingly - as opposed to waiting for some arbitrary target you've set for yourself.
Don't get me wrong - having a goal is good, but that goal should change depending on the market and its signals.
Otherwise you are just playing the lottery.
#Bitcoinâ #BNBAnalysis #UptoberBTC70K? #SCRSpotTradingOnBinance #APESurge
