Elon Dump May 2021This drop looks eerly familiar with April dump. Bars pattern from April overlaps quite well on the current trajectory. If this level doesn't hold we could expect a second drop before creating a new local bottom and possibly moving on upwards.
Fundamentally I highly doubt Elon Musk and his financial team didn't do his homework regarding his bitcoin investment including environmental impact.
Remember Elon Musk doesn't do anything by chance and with his tweet he practically "lost" 400 million dollars from his BTC investments therefore any positive result for him and his companies has to be greater than that.
It's really unexplainable for a genius like elon to change his mind so quickly from the 21st of April on Twitter when he agreed with Jack Dorsey regarding Bitcoin incentivizing renewable energy.
I draw three separate but not mutually exclusive conclusions:
1. He bought the dip possibly with Space X (private company) (massive bitcoin outflows from exchanges today.)
or
2. He want's to 1up his chances to entry into Bidens renewable fuel credit.
or
3. He is politically coerced to discredit bitcoin to get access to the said renewable fuel credit.
