Recently, when trading cryptocurrencies, don’t you often hear the term ATH? Actually, this is not just a term—it’s an important concept that has a major impact on investment decisions.

ATH stands for All Time High, meaning the highest price that an asset has reached from the past up to the present. For example, the current Bitcoin ATH is about $126,000, and this is the result of strong upward pressure created by bullish market participants. When an asset reaches this level, excitement and expectations arise among investors and traders.

But here’s the important point: if you jump in without understanding what ATH is, you could suffer significant losses. Buying at the lowest price and selling at the highest price is ideal, but if you buy after ATH has been reached, you’ll get hurt during the subsequent correction phase.

So how should you respond when ATH appears? Many smart traders use technical analysis. They use フィボナッチ比率 (23.6%, 38.2%, 50%, 61.8%, 78.6%) to identify support levels and resistance levels, and also read price trends by referring to 移動平均線.

In the process of price moving toward ATH, usually three steps occur. First, in the “Action” phase, resistance is broken; next, in the “Reaction” phase, the momentum of growth weakens; and finally, in the “Resolution” phase, it is determined whether an uptrend is confirmed. Understanding this process is the first step toward putting the concept of athとは何か to practical use.

If you are holding an ATH position, investors face major decisions. If you believe in long-term holding, choosing to hold everything is also an option, but most investors choose to sell part of their holdings. At this point, using フィボナッチエクステンション to identify key levels such as 1.270, 1.618, 2.000, and 2.618 makes the next resistance points clearer.

Another important thing is to set profit-protection levels in advance. You can base them on percentages or use absolute values—either works. If you set it up so that profits can be automatically locked in when the price trend reverses, you can prevent reckless trading driven by emotions.

Be especially careful when increasing your position. You should limit it to cases where the risk-reward ratio is favorable and the price is at the support levels of 移動平均線. Investors who understand deeply what athとは何か tends to follow this rule more.

In the end, ATH is an important indicator for assessing market conditions and making decisions that match your investment goals. When you encounter ATH, how do you think about position management? I’d be happy to hear your experiences and thoughts.