the price is sitting now on the second target, but potentially this could go to target 3 and 4 in the next weeks, if the bull market is going to hold the same pace.
I got a question from a follower on twitter what does it mean to take % profits.
Happy to answer. As you can see on all charts, it is absolutely normal for the price to swing up and down, sometimes 30%, before going higher, or to change course completely and go down.
There is NEVER a guarantee, based on past gains, that a coin will continue to go up forever.
Taking profits means, when you see such a big target hit and you just made 60% profits in a matter of hours, it is absolutely fine to sell 10% of the coins, a.k.a. take the top off.
This is how you manage the risk and protect your initial investment:
- The price goes up after you sell, no problem, don't buy back, you still have 90% of your coins to profit more.
- The price goes down after you sell, no problem, you have 10% profits that you can use either to buy more of the same coin at lower price, or to do whatever you like with them.
Thanks so much for your likes, follows and kind comments.
I'm on twitter as well, very active on giving more updates and advice.