Mike Smith
November 12
Economist and head of the investment firm The Pragmatic Investor, James Ford, has shared his recommendations for a profitable Bitcoin selling strategy. He noted that the key level for locking in profits aligns with the golden ratio, or the 1.618 Fibonacci level, from the previous price high. This level is at $102,000. Ford forecasts that the bullish trendline, drawn through Bitcoin’s previous peak values, should intersect with this level within the next two to three months, suggesting that the cryptocurrency’s price will reach $102,000 by mid-February.
For those looking to maximize profit and reduce risks, Ford recommends the following selling strategy:
1. Sell 50% of your Bitcoin when the price reaches $102,000 (the 1.618 Fibonacci level).
2. Realize another 30% at around $109,500 — where the bullish trendline acts as a resistance level.
3. Sell the remaining 20% of your Bitcoin once the price exceeds $122,749.
Ford also cautions that the Bitcoin market may experience a substantial correction after reaching the 1.236 Fibonacci level, located at $89,000. Twice, bulls have failed to hold above this level, making Ford’s forecast reasonable. Should a correction be confirmed, Bitcoin's price will likely fall to $82,002 before the bullish rally resumes.
