Today, $BTC slid all the way from 70,214.3 to 66,456.0, closing at 66,924.8, down 3.23%, on volume of 1.4B. Looking at this chart, I actually feel pretty calm. I didn’t chase that surge late last weekend. At the time, I thought I’d been too slow, but now I’m kind of glad I held back.
The low of 66,456 is worth thinking about. It was only a little over 400 points below the close, which suggests some buyers stepped in late in the session, though they weren’t especially decisive. I trimmed half my position around 68,500, and my stop-loss on the rest is set at 66,200, just below the low. It’s not that I think that level is guaranteed to hold. I’ve just made one thing clear to myself: if it breaks, I’m out. No arguing with the market.
The most frustrating thing about this kind of drop isn’t losing money—it’s not knowing whether it’s a shakeout or a reversal. Those who chased in at 70,214 are now down more than four percent. They hate the thought of holding on, but they’re afraid of missing a rebound if they sell. I used to be the same, treating my position like a matter of faith and thinking I had to be right the more I lost. Eventually, I realized that your position should follow the market structure, not your emotions.
The overnight session is underway, and at this level I’m just watching. No rush to add. The market never runs out of opportunities; what’s scarce is having ammo left when they come along. $ETH is closely correlated, so I’ll wait and see how it plays out on its own.
The low of 66,456 is worth thinking about. It was only a little over 400 points below the close, which suggests some buyers stepped in late in the session, though they weren’t especially decisive. I trimmed half my position around 68,500, and my stop-loss on the rest is set at 66,200, just below the low. It’s not that I think that level is guaranteed to hold. I’ve just made one thing clear to myself: if it breaks, I’m out. No arguing with the market.
The most frustrating thing about this kind of drop isn’t losing money—it’s not knowing whether it’s a shakeout or a reversal. Those who chased in at 70,214 are now down more than four percent. They hate the thought of holding on, but they’re afraid of missing a rebound if they sell. I used to be the same, treating my position like a matter of faith and thinking I had to be right the more I lost. Eventually, I realized that your position should follow the market structure, not your emotions.
The overnight session is underway, and at this level I’m just watching. No rush to add. The market never runs out of opportunities; what’s scarce is having ammo left when they come along. $ETH is closely correlated, so I’ll wait and see how it plays out on its own.