The Seasiders' boss has blamed a series of errors for the result and admits nerves could have been the cause for at least two of the goals conceded.
"It’s quite surprising isn’t it really, when you get a situation when the nerves come into things," he told BBC Sport.
"We get a free-kick for us, everything we’ve talked about, what we’ve planned and practiced, someone went off the cuff and did something different.
"He [Craig Cathcart] made a mistake and slotted it straight to their fella and then he’s slipped and they got a goal after two-and-a-half minutes.
"So that is what’s happening to us at the moment. If we could have got to half-time and settled down a little bit I could have had a big chat about what they were doing which was causing us a problem.”
"Then we’ve got to take a throw-in which you should work up the line, we’ve thrown it inside, Charlie’s [Adam] lost it and they’ve gone through and it's 2-0."
Holloway was particularly frustrated with the manner of Blackpool’s defeat but has refused to make excuses about the club’s league position.
"Those two things can be easily avoided which they should have been and unfortunately we’ve got a complete mountain to climb then and these things have been happening over the last few weeks and months," he added.
"Now we're there, we can’t argue we’re down the bottom and that isn’t good enough, what are we going to do about it?"
Despite sitting just one point above the foot of the table, Holloway insists he remains confident about Blackpool’s chances of survival and believes it will relieve some of the pressure from his players is they are expected to be relegated."I fancy us. When that happens we’re much better like that, rather than doing so well when everybody’s patting us on the back, well they’re certainly not now.
"The vast majority of the fans were excellent today, I need them to believe.
"Unfortunately sometimes the team needs to give them something to believe in and we haven’t been doing that lately.
"But we’ve got five left, we can’t hide from anything we are in worse form than anyone else so the bookies will probably be right if they say we should be the one that goes, but we’ve got a lot of fight in us we managed to prove that last year and we’ve got to do the same again."