After dominating much of their second leg at Anfield, the Reds were stunned in extra-time by Atletico Madrid.
Llorente told Marca: "They started to put us in a position to attack and with the second goal we knew we had no choice but to go forward.
"They had millions of chances and I think they saw each other deep inside with the goals, but with our reaction they freaked out."
Recalling his two goals on the night, he said: "On the first goal I lost the ball and squeezed the goalkeeper, who gave me the ball.
"In the second, when Morata gave me the ball I looked behind and nobody came. I played it, I'm not used to being in those situations."