I won't claim anything about where price is going short term, but if it took you 400% to start believing that institutions are here, then you were on the wrong end for quite some time

Just know they were already there at 4K and were present in the previous ('16-'17) bull run

Trends (temporarily) change at max acceptance of a narrative

Yes, we are about to go on a mouth watering rally - if we're lucky we see 300-400K by end of 2021

But is that reason not to manage risk after 400%, or even worse, long in to ATH resistance?

To me that answer is no

The result is pretty straight forward, either I

a. have to buy back higher or break even (if lucky)

or b. get a chunky discount

The former is something I am willing to risk, in return for downside protection of 2020's gains and opportunity of the latter

Zero arguments required - you do you