👇1-16) While every market correction is easily explained in hindsight, we've been relatively cautious. As we emphasized in our 10x Research Telegram Group chat on Sunday, the recent sell-off presents significant risks and offers a potential buying opportunity. We've identified the most important price levels to watch (stops), providing a roadmap for potentially protecting profits.
👇2-16) If we break those levels, it is crucial to prepare for several tough weeks and months ahead. While crypto has become big enough to remain a legitimate asset class, deep and prolonged corrections can still occur. Understanding and managing these risks is critical.
Bitcoin tends to rally +32% into the halving - hence our 68,000 target
👇3-16) Contrary to popular belief, we took a cautious stance on the post-halving, highlighting the lack of historical evidence to support immediate bullishness. In our Friday (April 12) report, we warned that Bitcoin miners could potentially sell $5bn of BTC inventories after the halving, which could adversely affect altcoins. This caution was validated as many popular altcoins experienced significant declines over the weekend.
👇4-16) A month ago, we wrote that Bitcoin ETF inflows would slow down – indeed, it has become evident to other market participants by now. We also believe many ETF inflows are arbitrage positions (25-30%) instead of outright longs – overstating the positive signaling effect.
