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Overview
Chart - Sonic (SUSD) 5-Day
Market Update β Stock Carnage vs. Bitcoin Resilience
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(For his chart screenshot, click here.)
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Chart - Sonic (SUSD) 5-Day [Former Fantom (FTM)]
Chartist: Kyle
(For the chart screenshot, click here.)
S is currently down 70% from ATH, and while itβs dropped under the mid-range, itβs still holding a bullish structure on the higher timeframes.
Weβre now approaching underside liquidity at the range lows, which makes this zone attractive to me for a DCA spot position. I'm not rushing in with leverage here, Iβm just building size patiently into weakness, with a clean invalidation in place.
Entry: $0.35 zone
Stop Loss: Daily close below $0.29
Take Profit 1: $0.50
Take Profit 2: $0.66
Take Profit 3: $1.00
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$60,000 Up for Grabs: Crypto Banter x BTCC Competition
Get ready for the ultimate trading showdown!
Crypto Banter has teamed up with BTCC to bring you a month-long Trading Competition thatβs packed with jaw-dropping rewards.
Weβre talking $60,000 in cold, hard cash prizesβdished out based on your total trading volumeβplus a lineup of exclusive, high-value incentives thatβll make your head spin. This isnβt just a competition; itβs a full-on crypto battle royale!
Hosted by the Crypto Banter legendsβSheldon, Dylan, and Kyleβthis isnβt your average event. Each host is running their own fierce competition, and youβve got to pick a side. Thatβs rightβchoose your champion wisely because you can only join oneteam. Will you ride with Sheldonβs sharp sniper strategies, Dylanβs bold chart hacking moves, or Kyleβs killer whale instincts? The choice is yours, but the stakes couldnβt be higher.
Want the full scoop on those extra juicy incentives? Check out this post.
Competition starts Today, April 4th - Register Now Below!
Choose to join your favorite Banter Host
T&Cs apply - See BTCC website for all the details
Not intended or available to UK residents
Banterβs Take
Market Update β Stock Carnage vs. Bitcoin Resilience
The legacy markets just endured one of their worst sessions in decades, with the S&P 500 dropping 5%βranking among the top 30 worst days since 1980. Yet Bitcoin held firm, still closing slightly green. The big question: is this early strength... or just delayed weakness?
That said, I donβt believe the bottom is in just yet. The S&P 500 could still fall another 5β10% before finding fair valueβpotentially dragging crypto into key liquidation zones. Here are a few things Iβll watch over the coming weeks that could help signal when a local bottom is truly in.
Key Takeaways:
Bitcoinβs Divergence?
While stocks tanked, BTC dropped just 0.79%. Itβs showing unusual resilienceβraising early hopes of decoupling. But correlation with the Nasdaq remains strong, so itβs not confirmed.
No Extreme Fear... Yetβ¦
Crypto funding remains neutral to positive. That means traders are still buying dipsβnot panicking. True bottoms historically form when funding flips deeply negative and retail fear hits max.
VIX Still Subdued
The Volatility Index (VIX) hasnβt yet spiked into the panic zone (37β50)βa common hallmark of macro bottoms. We're not there yet.
Critical Levels Iβm Watching
Reclaim $88Kβ$92K β Signals possible bullish continuation
Lose $72Kβ$73K β Opens move to $66Kβ$68K fair value gap
S&P 500 β 5β10% more downside possible before bounce zone
Solana Unlock β $200M in SOL unlocked today in low volume conditions; price remains bearish below $136 in my opinion
Final Word
Structure hasnβt shifted and I believe panic hasnβt peaked. A βhated rallyβ could come, but without real fear and negative funding, Iβll stay nimble and defensive.
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