One dangerous thing I’ve noticed is that people set certain price levels for entry or exit points. They say, “I’ll buy/sell if the price reaches X.” But what if the price never gets there? Do you just hold your bag all the way back down again? That’s extremely risky.

This also incentevises biases. I want to buy back at X, so I seek conforming data. This is what I currently see

This also incentivizes bias. They want to buy back at X, so they seek confirming data. “I expect Bitcoin to drop around 70% from the peak, because that’s what happened last time.” Simply ignoring all the contradicting data. I’m seeing a lot of this right now.