Death cross on daily fwiw

I believe that the bubble known as Bitcoin burst back in Dec ’17 and that the 2019 rally was the first counter-trend bear market rally which likely ended with the July highs. I could be wrong & there may be plenty of room left in this current rally but my plan was to game the initial bounce from the 8.82 support on GBTC up to this level. As I suspect this is just a short-covering/bear market rally and as such, it can end abruptly just when it starts to convince the BTC bulls it is the real deal (which is pretty much the nature of a bear market rally), I prefer to take my profits & move on to the next trading opp with an above-average R/R profile such as this trade had back when we entered a couple of weeks ago.

Not sure about the significance of the 13k level in BTC as I show the all-time high from Dec ’17 around $19,5k & the July ’19 top around $11,8k but either way, there’s nothing wrong with riding the wave as long as it rolls higher. Just keep in mind that GBTC is prone to very large opening gaps due to the overnight moves in /BRR (Bitcoin futures) and the other Bitcoin trading platforms. As such, a stop-loss order on GBTC can be ineffective for limiting any giveback of profits to a certain amount.