Don't look for reasons to analyze what has already happened after the fact.

Just like when the price retraces during an uptrend, enter the market when the price drops to what you think is a potential support and bounces back, then set the stop loss at the local low or previous low.

For now, set the target above 1:2, or look at the previously validated resistance to set the take profit.

Then you can go do other things. Set price alerts, and just check the market situation occasionally, and pull up the stop loss line as it moves away from the cost zone.

Wow, it's skyrocketing, can I short? Wow, it's plummeting, can I go long? Are you here to give away money? 😅