Bitcoin broke 47k and Ethereum Broke 2.5k: What should be our strategy now?
Welcome back,
In last 48 hours we saw major move in the market. If you would have bought any coin on Eth layer 2 or Bitcoin layer 2 you must have already made some profit by now. Stacks, Arbitrum, GMX, Matic, RIF, OP are all up with a good numbers.
bitcoin and eth charts together for 30m
Bitcoin and Ethereum have broken 47k and 2.5k mark respectively. Bitcoin also crossed 48k for a moment but have been trading under 47-48k range for good time now, I think for almost more than 24 hours the coin is seen in that range and what should we do at this moment.
If we look at the Fear and Greed Index, we can see that the number is at 74 and that means people are already in greed mode. Are you smart enough to fight the greed? How do you really fight it, face it and make profit out of the situation. Should you buy or sell or simply hold at this moment.
So, the greed can either denote a panic buying or selling for quick profit. If you will ask me and about my team, here is how we see this situation:
We plan to sell 5-15% of our holdings with good profit as the market can probably take correction and we can see bitcoin back to 44k range.
In second case scenario the bitcoin breaks 49k resistance and reach 50000 dollars and as we have 85% of our portfolio with us we don't have to worry of losing anything.
Remember that these are the coins with mid term holdings, they are the coins that are bought with a vision to make profit with them in next 4-6 months.
On our long term holding we never take risk. For example we have GMX token and we are not going to sell it even if it.
Now, you can plan your way. It is upto you if you want to consider my way of looking at the market. Feel free to share what is there in your mind so that I can increase my knowledge as no one is having 100% knowledge about anything and there is always space to learn more.
Thank You and Happy trading everyone.