That's one of the human mind fallacy. As an investor the first thing you need to learn is to neglect previous history.

If you paid $200 for dish at restaurant and it tastes like crap dont eat it.

No matter how much an asset costed yesterday, the question is does it costs less than his utility now. I know, it's easy to say than to do, but abstracting from previous price bias is essential.

I could advice you to make a spreadsheet with 100 virtual bitcoins and try to trade it with such a strategy. While trading virtual assets it's much easier to abstract from emotions and do what your rationale tells you. Then compare pnl and adopt such strategies.