The time I chased $BTC after a breakout and paid for it

Looking back at the tail end of 2021, I made a classic mistake with Bitcoin that I still reflect on. We had seen a pretty solid run-up, and I had been watching it, but kept my powder dry. Then, it broke out past a key resistance level I had identified, around the low $60k's. My initial analysis was to wait for a retest of that level as support, or at least a consolidation around it, before considering a long. Classic patience play, right?

However, the FOMO got the better of me. The candles just kept printing green, and the narrative around a new all-time high was getting deafening. Instead of sticking to my plan, I entered a long position, not at the retest I wanted, but well into the new high territory. My stop was placed logically, but the entry was flawed. Sure enough, after a brief push higher, the momentum faded, and we saw a sharp correction. I was stopped out for a not insignificant loss. The lesson, clear as day, was that chasing a breakout without confirmation, especially after a significant run, is usually a recipe for getting burned. My disciplined entry strategy existed for a reason, and abandoning it for the fear of missing out was a costly reminder.