Bitcoin in Volatile Zone: Here is what to do in the current Market Situation

Welcome back,
In today's blog we will discuss about the current market situation as it is really necessary for everyone. I am going to try and put my experience to work here but hey this is crypto market and we should be ready to see the unexpected.

I may be wrong, I may be right there are both possibilities so there is no financial advice here and it is always a good idea to research on our own. Well this is not about a coin but the entire crypto market and the reason why I decided to write on this is movement in bitcoin price.

Let us have a look how bitcoin has moved over the period of last 24 hours.

In last two days the bitcoin came from $51k to $61k dollars and that is just 48 hours of time. I was wondering where are the people who use to say this is all fake and bitcoin will go to zero but anyways we will not waste our time talking about them.

Bitcoin has broken the resistance for more than two years as you can see in the screenshot below.

So, that is around two years and three months of time and bitcoin all time high is it can route for next, but I don't think that will happen here anytime soon. This 53-65k is the range for bitcoin that has been highly volatile, and we might see that in few days itself.

Source

The fear and greed index is also touching 82 and hey that is not something we can ignore, people are already in the greed mode. I have wrote a blog on fear and greed index before where you will learn what is FAG Index and what does it mean so you can check that out on my blog.

So, what should we do at this point of time? Buy, Sell, Hold?

Read this really carefully, this is the time when you can definitely book profit on the short term holdings as they are already in good gains. I bought few tokens which are doing good and I liquidated 50+% from them today.

For the long term holding, I will prefer not to touch them unless and until you are ready to risk your tokens never coming back at the price you are wanting to sell them. So, I am just going to hold them for now.

If the market goes up further, I will redistribute every token and take out 10% from each of them for the future opportunities that are again not guaranteed to us. So, for people who don't like taking risk simply hold on to your long-term holdings.

Short term - Liquidate,
Long term - Hold

These things are what you have to remember.

Thank you and Happy trading everyone.