You were spot o with this one....would you take profit now since it the 161 Fib line or wait until the next 4 hr candle to see if it is going to run some more?
Investor123
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@DarylCleveland Hey Daryl,
Personally I wouldn't, but it depends on your strategy and cost basis. My average cost basis now is $0.09716 per coin. I don't think we'll see that level again any time soon, so I don't want to sell those shares at this point. However, if you hold shares at a price say around $0.07 or less and those represent the bulk of your investment, you might "trade around" that as the price rises. So if you bought say 1000 coins at around 0.09, you could sell now and buy more at the bottom of the next correction. That can be a good strategy, but personally I wouldn't start that strategy until we get to more shaky territory at a higher price. In the meantime we've busted through the 161 fib line, corrected slightly, and resumed the upward trend, so I would keep a close watch! What goes up must come down eventually, so I'm looking for the next big correction and will try buying more at the bottom of that. Good luck!