BTC crossed 10,000 and everyone goes wild, but that shouldn't change your process and how you approach each trade.
Bitcoin's main trend changed in early January and from there began to build a constructive pattern that created several entry opportunities. In late March and early May, BTC gave solid entry opportunities. If you set your initial stops correctly, you would still be long BTC.
Everyone thinks that BTC has to hold 10,000 but the trailing stop is actually at 8,253. Obviously if you are just now entering the BTC trade then you are going to have to have an extremely loose stop because you didn't buy from a proper base.
Now, if Bitcoin begins to put in several orange crosses over the next few days then I would tighten my trailing stop moving forward. Right now that stop would be in the 9168 area.
Best of Luck!
Bitcoin's main trend changed in early January and from there began to build a constructive pattern that created several entry opportunities. In late March and early May, BTC gave solid entry opportunities. If you set your initial stops correctly, you would still be long BTC.
Everyone thinks that BTC has to hold 10,000 but the trailing stop is actually at 8,253. Obviously if you are just now entering the BTC trade then you are going to have to have an extremely loose stop because you didn't buy from a proper base.
Now, if Bitcoin begins to put in several orange crosses over the next few days then I would tighten my trailing stop moving forward. Right now that stop would be in the 9168 area.
Best of Luck!
