This is essentially where I had problems a year ago. At that time, we would push up and then retrace our gains very quickly. As someone said, investing is easy at the bottom. That and I think profit taking will occur the closer to ATH we go.
I have a band drawn out in the 42-44 range from last year and that area still holds true as both support and resistance, though it seems on the resistance side we pushed through quickly and re-tested. This would coincide with September volatility.
GBTC is one of my long term plays so I am 'letting it ride' more than I am protecting profits, but I do feel that a small % stop loss is prudent the closer we get to September. This is basically what I was doing in May (but maybe not protecting profit as much as I should have, in hindsight).
Not financial advice but just remember the time to settle funds and how quickly GBTC can pivot back to the upside, so stops should be set lower than you would normally and now your entire holdings. When we get to 42-44 the risk is fairly high at that moment for a pullback. IMHO of course (based on my experience).
I have a band drawn out in the 42-44 range from last year and that area still holds true as both support and resistance, though it seems on the resistance side we pushed through quickly and re-tested. This would coincide with September volatility.
GBTC is one of my long term plays so I am 'letting it ride' more than I am protecting profits, but I do feel that a small % stop loss is prudent the closer we get to September. This is basically what I was doing in May (but maybe not protecting profit as much as I should have, in hindsight).
Not financial advice but just remember the time to settle funds and how quickly GBTC can pivot back to the upside, so stops should be set lower than you would normally and now your entire holdings. When we get to 42-44 the risk is fairly high at that moment for a pullback. IMHO of course (based on my experience).