On Thursday, I opened a position on an uptrend in bitcoin, the price went in my direction, and then returned to the entry point. And then the most interesting thing began – Elon Musk published a post on his Twitter mentioning bitcoin and it flew up from 32,000 to 38,000 in two hours, or by more than 17%. I was very pleased and thought that Bitcoin will now continue its bullish trend towards 50,000 or even 60,000.
The price rallied a little more in the next hours, but then it drew a reversal pattern, which I ignored because I was sure that it would be rewritten up. But then there was a decline and bitcoin declined all weekend. As a result, after the opening of Monday, I received a loss, or rather a lost profit. The profit peaked at 64000+ points, but turned into 9000 points. It’s sad. It turned out that this post by Musk and the subsequent growth was decided by market makers to use for broad sales and shorts in order to continue the downtrend from 42000. Let’s see what happens next – in theory, the fall should continue and I will go short in the future in order to win back this movement … I will post screenshots after that.