I didn't get my position completely established before the breakout. I'm not chasing price so I'll just sit for a bit over the summer.
I'm expecting a good run and then a correction in early November. I'd like to hedge my position around late October but I'm not sure exactly how to do that considering how I'm holding the asset and how the exchanges are functioning.
I know how to hedge properly, it's just the tools available aren't really that great.
If I could hedge properly, I would collar my position using out of the money put options, and sell even further out of the money call options to offset some of the hedging cost.
Once the expected correction happens, I would unwind the trade and use the proceeds to buy more BTC. Just how Buffet operates.