I think the best strategy is to hold bitcoins. Because i believe that in the future when all the bitcoin is mined the price will skyrocket so holding will make the most profit.
The OP is right you should know where to exit before you do a trade. Holding bitcoin is not always the right thing to do, sometimes you should set a sell to be able to maximize your profit. Although its bearish market if you know how and what to do, still you can gain more profit with the right strategy.