Yesterday during the day, Bitcoin's market was still within the box I had previously drawn, so I didn't issue an analysis. However, last night, Bitcoin's price dropped, and those who were caught in the dip had no good feelings at all. I mean, I placed an order at the previous high of £66,500, and I did get filled. At 9 o'clock, there was still a small rebound, but I didn't pay attention and went to watch a movie. When I came out of the cinema, it was still within the box, but after having a late-night snack, the sky fell; it kept dropping without stopping. Looking back now, Bitcoin's price has bounced back again and temporarily stopped falling. However, during the downward process, many long positions had their stop losses wiped out, and it must have been a tough experience last night.

Speaking for myself, I also held on to my position yesterday and monitored the market all night. It dropped from £66,500 to £65,400, which was about a 1,000-point drop. At £65,400, I did do some averaging down, with a low of £65,200. I had already given out these two price points of £66,500 and £65,400 a long time ago. Those who placed orders at these two positions should have been able to benefit from the £65,400 order, while those who had their stop loss at £66,500 should have been wiped out.

So why do I want to share this experience of holding a position with everyone? Although I made a profit, the process wasn't pleasant at all; the mental torment was no less than that of someone facing a liquidation. I want to remind everyone to always set stop losses when trading; holding on to a position is truly not the way to go.