Market seems a bit over valued and so there is a possibility for a sell-off in the near future. So decided to take some chips off the table. Hence booked profits since the price is close to inflection points that may trigger a sell-off.
Clearly aware of the fact that there is a possibility for a potential up move of about 20%, from the current levels, in the near term. But at the current situation the downside risk weighs more.
Will consider a re-entry if price falls back to the low of the channel line.