Bitcoin Trade Update(s)
#bitcoin #etfapproval by Wednesday then #sellthenews
Traders,
We are up almost 3% on this trade and I am moving my stops up to entry price for a clean break-even exit should we dump before the ETF approvals. As you know, I am under the persuasion that the ETF approval news could be a sell the news event. But before the approval occurs, I think we may tag 48k and could wick up to as high as 50-52k. I will try to manually adjust my stops as we move up to this 48k target, trailing by approx. 3% and taking at least 50% of my trade off of the table at target point.
Update Jan 09 - 9:11 (UTC):
Bitcoin touched 47k. My final target is 48k but I wanted to capture some profit while I have it not knowing for sure how high we’ll get before some selling ensues. I took 50% off of the table and raised my stops to 45k. I’ll let the rest ride and trail my stops by about 3% from here.
Update Jan 10 - 14:10 (UTC):
Shortly after the SEC’s X account incident, I dropped my stops back to break even, unsure of how the market would react to the news. This keeps me in the trade for the time being.
