Dreams dictionary: Pit

Dreams dictionary: Interpretation 1
To dream that you are in a pit signifies feelings of hopelessness about some situation or circumstance. Also consider the familiar phrase of "being in the pits".
Dreams dictionary: Interpretation 2
If you feel you are falling into a bottomless pit, then it suggests that you are unable to recover from a setback. You are unable to overcome a problem.
Dreams dictionary: Miller Dream Interpretation
If you are looking into a deep pit in your dream, you will run silly risks in business ventures and will draw uneasiness about your wooing. To fall into a pit denotes calamity and deep sorrow. To wake as you begin to feel yourself falling into the pit, brings you out of distress in fairly good shape. To dream that you are descending into one, signifies that you will knowingly risk health and fortune for greater success.
Dreams dictionary: English dream book Zedkielom (Morrison)
If you dream you go down into the pit - so your things are unimportant and you will find the need. For the love of a woman, this dream means that the heart of her lover penetrated alienation. Falling into a pit in a dream - a prediction that you face adversity, loss: perhaps your favorite will not trustworthy person hurts you or deceit of an old friend. Farmer dream portends a poor harvest, rainy weather, livestock disease. After such a dream merchants, traders should expect heavy losses, the sailors threatened terrible storms. However, he will return home safe and sound.