(Source: Beepple)

What signs do we rely on in words?

There are currently many models, methods, and software available to predict the maximum price of Bitcoin, but you should remember that this is only a prediction and no one can know exactly where, only going through a bear market can determine where is the top of the market, but it is important that all technical analysis, fundamental analysis, and any pattern you relate to is used solely to assist you in making your decision. The decision to buy, sell or hold really affects your profits, not the models to make the most accurate decision, you can only rely on yourself No external factor, the market will only give you signs that the top price zone might appear and the decision whether to sell or not is yours.

Most importantly, you need to write down your financial goal, what you will do with the profits from the market, to buy the dream home, buy the dream car, buy the things you think make sense, or pay off debt … you need to know exactly why You invest in crypto and what you do with it after you get the money is far more important than you are. Sit there and wait for the profits to go up every day and do nothing. Because of your bottomless greed, you just want more and faster, but you don’t really know what the more money will be used for? And boom … the market collapsed and you sat and waited, waiting for it to slowly recover as the market fell and went into bear season.

You need to know your financial goals very well, because when the market presents you with an opportunity, it is the best time for you to take profits and achieve your desired financial goals. But what model do you believe in? Difficult right? The type of chart, the checklist, the number people look at to take profits, is the most accurate table of your financial goals, you invest in crypto to make money, then that money will help you do things in life, you want to live, take every profit and tick the boxes of the financial goals you want to achieve. If you don’t have an anchor to anchor yourself, greed will take you far with the fast current and you will realize you have reached the end of the creek where a great waterfall falls and destroys all the boats in the water.

What is your reason for investing in crypto?

Don’t bother and compare this person who makes more profit than you, diamond hand than you, because each person has different circumstances, goals, amount of capital, someone bought BTC from 5000 and now has x10, the mentality is very different from those who which bought BTC for 40k and made a small profit.

BNB house in Vietnam

And this can be a classic example, of course we don’t know the history of the owner of this house, but if the owner of this house wants to build a house for his family, and therefore crypto market. If the market then gives him the opportunity to do so, he will not sell and achieve his goal, perhaps many of you are thinking why not wait longer to get 2, 5 or 10 houses. But if the market collapses and gets into a bear market then you have no home, once you get to your goal it will only add to the excitement for you where the market is going because you already have the market. And of course no one can know where the low and when the high is, so we have a method to split the buy into each period and divide and sell according to market growth to get a good buy price and the sell price is high enough for that If you achieve your financial goals, you have a few years to buy, but a very short time to sell, so without previous practice plus a clearly defined target number in the year At the beginning you have a hard time making a final decision, the button ” TO SELL”.

In the previous article, I also mentioned the truth about investing which few people say is about emotions. You study a lot of charts like NUPL, Stock-to-Flow, Bitcoin Rainbow, Willy Woo Chart, PTKT … and then what?

After relying on these charts to determine the top price range, do you then dare hit the sell button to take profits from the market? When we sell, we need buyers, when there are most buyers, it goes up, the price doesn’t collapse and we panic selling to people who want to sell. In theory, it sounds simple, so people love technical analysis and spend a lot of time looking at it and then not making decisions about whether to sell, buy, or continue. When you buy and sell with real money it is closely tied to a very strong emotion that leads you to take the wrong and most difficult to control actions. Imagine taking a profit on the uptrend, selling $ 1000 profit today, but can go up to $ 1200 tomorrow, say, $ 1500 really know how long you are waiting.

Without enough practice and a clear profit target, it will be very difficult for you to combat these emotions. And to avoid the situation that you have sold all of your cryptocurrency but the price continues to rise, you can keep part of your portfolio so that you don’t get mad at yourself. ????

The ability to deal with emotions when making decisions is many times more valuable than the ability to analyze diagrams.

Technical analysts can say entry and exit points without telling you the emotions involved, you have to wonder if they are really trading real money?

To reduce the pain of decision-making, you can split and sell many different times during the bull run and need to practice so often to make your mental emotions bearable. The same is true when buying. No theory folks, anyone who bought BTC at 60k and has now dropped below 50k understands how painful it is to say, logically everyone knows that BTC will correct a few% and will recover in the near future, but that’s not comfortable feeling, right? especially with big and important money for you.

Don’t think that I have to buy the exact bottom and sell the exact top to get the greatest profit, but really, if you do, it’s just luck and won’t work consistently for long. and with a large portfolio, and for newbies and this is your first bull run, it’s too good to catch ⅓ of the market run (e.g. 200,000 make a profit of 150,000), you catch the running price of 50,000 in profit, you did it too well.

From now on you have to practice

Trading with emotional resistance is never easy, it applies to both buying when prices are falling and selling when prices are rising, if you do not practice mentally enough and often enough.You are still not used to making critical decisions about what to do when necessary Hesitation leads and loses many opportunities to achieve your desired financial goals. If you’re a long-term HODLer, you’ve probably only had buying and selling in the last few years and very little experience selling and profit-taking in a short amount of time then this is the time to practice, depending on the size of your portfolio You practice every week, maybe it is to sell $ 10 $ 100 $ 1000 a week to practice psychology and decision making, this is not the amount you take away with a small amount of money when the market goes up many times this does not affect your portfolio, it is an opportunity for you to practice because when the market is raging giving you the opportunity to complete your personal financial goal sheet but if you do not practice if you practice and prepare ahead of time, you will never hit the SELL button and take the profits from the market, believe me, it is never easy to go against your emotional instincts and only practice is continual, a new one Routine will help you with this.

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