"Bull Market No Pressure, Bear Market No Support, How Did I Get Trapped by the Sunk Cost in the Crypto World?" When I was caught in a long position at 82,500 on Bitcoin, a series of rookie moves, looking back, really makes me laugh. The reason I was caught in that long was because I had cleared all my coins in October, was completely bearish, so I placed a long order at 82,500, thinking in case of a sharp drop, I could catch a rebound. I forgot to cancel it after so long. When Bitcoin first pulled back, I entered (so everyone should check their orders regularly and remember to troubleshoot). By the time I noticed, Bitcoin was already at 80,000, and I didn’t want to take a loss, so I had to add to my position. Seeing it oscillate around 80,000, I thought that might be a support level, so I added another position, bringing my average price to around 81,200. Just as I was thinking, it should rebound soon, and I’d exit at breakeven, the market ruthlessly broke through 80,000. Have you noticed? When the market is in a bull phase, resistance levels are not really resistance; they can be broken easily. When the market is in a bear phase, support levels are not really support. When I saw 80,000 break, because it was a sharp decline, I placed a order at 78,000, thinking this was the bottom. Soon after, I entered again, and it rebounded. At this point, my cost basis was around 80,172. Thinking it was stable now, it suddenly turned and dropped to 75,500. Well, I also got my 76,000 order filled. Now my average cost is 79,643. I don’t want to add more anymore. Sometimes, humans are just overconfident. If I hadn’t been so high-profile in trying to top out, I wouldn’t have opened such a long position in frustration. The market will teach every arrogant person. Luckily, I’ve been holding onto my Ether short at 30,14 without selling, which gives me some comfort. I’m not even balanced with these two positions—whatever happens, happens!!