This time was not the right time to sell as you can see bitcoin price drop down again and if you sell now you will lose big profit. But take the chance to buy and hold maybe before this year end will be the good chance to sell and earn big.
I think every time is the right time for selling if the holder needs the money because all the investment in bitcoin is for overcome your financial problems and you will have o sell them when you want money. There is no such right time to sell bitcoin.It depends on when you have purchase and with what expectation have purchase
I do not think so the current market is favorable for selling because the market is not active for sellers which show low value these days. The market is looking favorable for buyers due to the low price these days, they price dropped yesterday at 6.1k dollar and today we see the same value so this is a low value and an opportunity for people to buy at this price because Bitcoin may not be available in future on this low price.