I have been thinking about when to start selling my 2 bitcoins I purchased for $21,000 each average price during 2022 lows.
I keep hearing things like we could spike to 200K really quickly and stuff like that, maybe in just weeks.
My question is when will you guys start to sell if we have a major spike?
I used to think I wanted to sell at 100K, but this is rising so fast I have been thinking more like 150K to start selling.
How will you sell, slowly into a spike or wait for a set price and just dump.
You have enough questions here and I can't blame you, it's a general panic when it comes to the liquidation of an asset at a very good price that will not cause regrets on whether you liquidated it at a price that would make you miss more money or blaming yourself for not liquidating it soon enough.
Well, first, I would like you to note that there is no perfect trader/investor just as there is no perfect speculation of the market, so there can't be perfect liquidation of positions as well. You should know that liquidation could come with luck as well, this is where luck and expertise are working together due to people's approach because some people would just liquidate at a particular time that the market would start selling without any prior analysis, they will just use their instinct and it will be a near perfect decision. But this is still a style that is random, it is never professional. If You would like to liquidate your asset professionally, I bet you use your chart guidance.
I knew it when the long-term bullish trend of Bitcoin started in 2023 through chart readings, so good chart readers would also know when the long-term bearish trend of the coin starts. This is the best time you liquidate to avoid mistakes. You can use the weekly and monthly charts together for proper analysis to achieve the purpose, and you will never regret it.
Personally, I believe Bitcoin would hit $100,000 in this bullish season and might still hit above $120,000 as well. The comeback level should be between $100,000 and $150,000 as well. If such an assumption is what you want to use, fine, but note that it is just a random pick for the liquidation. What if the asset moves far above the level? This is why you need your analysis.