This chart from today's Early Look by Keith McCullough uses Bitcoin's historical ups and downs to show why it's OK to be long a bubble ... if you have an exit process. 

Here's how Hedgeye's CEO is risk managing Bitcoin after today's 10% gain.

A) Today, with Bitcoin “mooning” toward the TRR (Top-end of my Risk Range™ Signal), I’ll sell SOME = Partial Gain Booked, Exposure Maintained
B) If/when we see a correction toward the LRR (Low-end of my Risk Range™ Signal), I’ll buy SOME = That’s what we did in Portfolio Solutions late last week
C) If/when we register LHs (lower-highs) and/or an immediate-term TRADE breakdown, we don’t buy = We wait and watch for a potential TREND breakdown (where we’d sell all, then look to short it)

Click here to read today's Early Look in its entirety free as part of All Access Week.

CHART OF THE DAY: How to Handle the Latest Bitcoin "Mooning" - COTD

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CHART OF THE DAY: How to Handle the Latest Bitcoin "Mooning" - All Access Billboard Full Date

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