This morning we saw a nice spike in Crypto.
Normally I'm asleep when these things happen but this time it happened in the morning.
I decided to take some profit in the same way I buy crypto.
I sold a tiny amount to Fiat.
If it comes down from here, I'll buy it back and when it goes up I'm also happy.
And that's pretty much how easy it is.
My general rule: You will always buy too early and sell too early. Just accept it. In the end Profit = Profit.
On Bitcoin I'm following this chart with interest. Especially after learning a little bit about TA.
(I always thought TA was hocus pocus, but by now I have seen it work too many times explaining price movements I couldn't figure out with fundamentals. But I am no expert and it's more of a hobby for me.)
That green line is the Daily moving average of BTC over 200 days.
It indicates the current trend (bearish, it's pointing down) and acts as a resistance (it's hard for price to trade higher than that line).
But for the first time since a long time we are very close to breaking it. That would be a good sign. But as of yet we haven't done so.
We also want that green line pointing up instead of down, indicating a bullish longer term trend but keep in mind it does always lags behind (it's an average of 200 days) so it could mean the bull trend has already started in dec 2018 it just doesn't show yet.
For now it indicates that the bigger trend is still bearish (and I do keep that in the back of my mind, like this morning).
But in general it's all pretty much long term strategy for me (I am super bullish on crypto long term (years)) and when it comes to making decisions like this morning they are all my own but I do like following the charts more than before.
Good luck!
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