You want to wait to purchase XYZ until it reaches an ask price of $8 because you think it’ll rise much higher, but only after it reaches $8, so you set your stop price to $8.
Let’s say, XYZ crypto is currently trading at $6 per coin. You want to wait to purchase XYZ until it reaches an ask price of $8 because you think it’ll rise much higher, but only after it reaches $8, so you set your stop price to $8.