The price of chasing momentum on $BTC

Learned a hard lesson last bull run on $BTC, jumping in after a significant leg up, convinced it was going to 100k overnight. My initial entry was late, and instead of letting the market tell me what to do, I started averaging up as it continued its parabolic run. This created a highly concentrated position that was incredibly vulnerable to any retracement, which, of course, came swiftly and violently. The pain of watching gains evaporate and then turn into losses taught me to respect entries and not get caught up in the FOMO of a moving market; position sizing and patience are paramount.