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RE: STEEM: Breaking upwards or about to break upwards?
This though- Bloodbath? We haven't even got started yet, hehe :P
Now I'm getting worried. Lol. My portfolio is still a mess to be honest, I just keep on putting money in on different coins and ico. Too diversified. I'm hoping for another movement up and dispose some, and use the fund for other icos. For some reason im drawn to new projects! I hold a few top 20 coins, long term, and still steadily adding on these whenever able.
Your plan seems legit, specially since you're heavily invested, i think it makes sense.
I don't know if there's going to be a downturn (but all my expereince tells me there will be a deep correction at some point but I don't know when) but because I have so much of my net wealth in the crypto ecosystem, I would be crazy to not hedge against a fall. This can be done simply by allocating a proportion of all your holdings (10%,20%,30%,50% or whatever) to USD/EURO/other fiat and leaving those funds on an exchange (or better, more than one exchange) - so that if and when a crash occurs, you can use that money to increase your crypto holdings before the next rise. Alternatively if you have extra funds in a traditional bank account, then you can use this to buy in when prices are cheap. But if you have everything in crypto, then it simply isn't possible to buy in after a crash, or even buy in after a 'dip'! ;) Really depend how much you have invested in crypto. If it's not a significant proportion, then just holding through a downturn shouldn't affect you negatively too much. But you really have to decide if you want to be a 'holder' or a 'trader'. Personally, I'm both: one proportion is allocated to trading, and the other to holding.
I'm still a holder now, but have thought of the same approach as yours. Part holder and part trader. I need to be educated first on trend analysis before i jump into trading! ^_^