I agree with you that holding is the most important thing in Bitcoin investment however not short term holding or trading but long term holding if we master the act of long term holding we will become successful investors, the reason why I decided to make it clear is because of newbies if one just say holding some set of newbie may think about short term holding or trading and which is very risky.
The only way to reduce the risk of losing in Bitcoin investment as an investor is by engaging in long term Bitcoin investment, holding your Bitcoin for long will help you relax and stop panicking, those who are into Long term holding Bitcoin volatility won't be something they should be afraid of because the longer you hold Bitcoin the more successful you may become.
Any newbie who categorises short-term holding and trading as the same thing has a long way to go as they need to learn the difference and make a decision on which one they want to do and which one will favour them.
Short-term holding and trading is just the same thing because both require that the market vomits profit within a very short interval of time, it could be within few days or few months (like position trading). Trading is not only when it is done within a day or few days but could span months just like the case of position trading that can last for as long as four months to six months or more. So short-term investment is more or less trading. I just needed to point that out, not that I don't understand the point you are making.
The person should have a target as there are times when you can just wake up after a long waiting and try to sell when the market is on bleeding level, which I don't consider a good one. Long-term holding and market target should also be considered.
Anyone that hesitate to sell this way probably invested might not have been fully prepared for long term investment but might just have purchased Bitcoin, set a selling price in his mind and was waiting for that price to reach so he will sell. My understanding of long-term investment goes beyond this as it is more organized and relaxing to hold for long-term without the urge to sell suddenly. I have also learnt through this forum that to succeed in holding Bitcoin for long, one must make appropriate plans for emergency funds that should be accessible in case of emergencies so that the investment will not be tampered with.