When Bitcoin is mentioned, we should always have it in mind that only technical analysis cannot be held responsible to determine the direction in the price of Bitcoin. Just as technical analysis is important, the news has more effect in the price direction. It is news that can alter the market analysis, and create a new trend, of either sides.

The need of having patience is simply being a long-term holder/investor, and not a wavering one. The ups and downs around the price of Bitcoin is the fun side of it, down, as a time to jump in, and up, a time to take out profits.

The people who have challenges with such situations are traders. Day Traders gets lockup in these situations, where their analysis goes against their expectations or the news turns their analysis against them.