Riding BITCOIN - A 20% Trail would have given you a 130% gain

Bitcoin has been having a good run of late. A 20% trailing stop would have kept you in the trade since the lows of mid March - a 130% or so gain. Buyers are in charge at the moment and the RSI is indicating that value is still there. Odds would seem to favour a consolidation before continuation of its run. Keep an eye on volume though for confirmation. Never know in this market.

Just to look at a different view, a 14% trail would have kept you in most of the trade without too many re-entries but let you put your money into other areas during the flat spots.


Even looking at Bollinger bands and seeing how the stock compressed so significantly before the breakout would have given you a big clue that there was likely to be a big upward movement. You can see it starting to compress again which would indicate consolidation for a bit before another move - up or down. Be easy to put a stop around that 10500 mark to protect your position.


Additionally, Davey Day Trader's entry might give BitCoin a bit of a pump on the interwebs, so worth a watch for the entertainment value if nothing else.

#DDTG Global for the win :)