Bulls thought they had a win. +0.40% in one candle. "Wow must be going up forever to all time high!"
MMs (market makers): SIKE! Drops 0.42% which is even lower than the initial pump.
How do you play it then? Hedge.
For example, I started with puts:calls 4:1 ratio. Sold +20% and held the call -10%. Sold the call eventually +5% and it continued to +100%. Rinse and repeat.
I'll update this post with more examples as we go along.
Don't get disrespected by MMs. Hedge all your plays even if they're scalps. Follow me and drop questions in the comments if you have em!