Taking profits will make sure you're not gonna end up a paper millionaire. But 90% of people still don't know how to develop a proper strategy. Here is a taking profits technique that will help you lock-in future gains. (Probably, this is one of the most important posts I've made) 🔸Compass Charts Before diving into the technique, we need to have a compass to rely on for understanding in which phase we're transitioning. To do so, I always use the OTHERS chart which, by excluding the top 10 assets, provide me the purest overlook of the altcoin market. With the use of the reverse Fibonacci technique, I found an area in which I believe the altcoin market will be headed to. This area fluctuates between 620B and 800B, less or more. Could the market go higher? Yes. Do you want to run the risk of wiping out all the potential profits holding everything above that area? No. Therefore you'll NOT be willing to buy anything in that moment, just shaving off your positions. An additional chart to match is the OTHERS D. which represents the altcoin dominance's impact on the market. The more it rises, the more an altseason and a potential top are likely to happen. A top cycle idea could be represented by reaching a 30% level. These charts are two of the most important and must be always remain under your radar. 🔸Taking profits technique One of my favorite tools to use for setting up taking profit levels is Fibonacci, especially with the methodology of the reverse ones. If you don't know how to do it I explain it in this post: x.com/IamZeroIka/sta… However, 99% of the coins, have a price action which is usually divided into 8/9 steps: - Accumulation - 1st impulse - Re-accumulation - 2nd impulse - Re-accumulation - 3rd impulse - Potential re-accumulation/4th impulse - Distribution This is the plan to respect: - Sell 20% during the 1st impulse - Wait for the 1st re-accumulation - Sell 30% during the 2nd impulse - Wait for the 2nd re-accumulation - Sell 20% during the 3rd impulse - Wait for the eventual 3rd re-accumulation - Sell 20% during the 4th impulse - Let a 10% bag run aka moonbag (what if they announce a partnership with 50 cent?) That's how you do it in a simple way just by looking at the price action. You'll notice that the majority of speculative assets move in this way. 🔸A few things to look for: If you'll continue to monitor these charts, you'll see that, once the top will be reached, huge signals will come out: - People will call for more - Taking profits will be considered a shame - Neighbors, friends and celebrities will start to talk about crypto - Advertisements, TV spots and mass media will pop out with huge bullish news at HTF levels - No one will consider the downside potential but exclusively the upside one - Crypto app will be the most downloaded app - Crypto Youtube videos will reach hundreds of thousands views Match the charts + match the signals = guaranteed top signals Sell, disconnect everything for a few weeks/1 month and you'll be considered a profit master.
