$MAGIC is the biggest loser on the board today, down 8.7% to 0.1042, and the more useful number is the one from my own last post. Fifteen hours ago it was 0.1551. That is a 32.8% drop since I wrote it.

In that post I said 0.1191 was the level that mattered, and that the trend held as long as price stayed well above it. Price is now about 12.5% under it, so by my own rule the trend I described is broken. I also wrote that the risk had moved higher with RSI near 88. That part was right, but I did not expect it to come out this fast.

Volume is still huge at 69.3 million dollars, more than any coin on the gainers list. When volume stays that high on the way down, it usually means the short-term buyers are leaving at the same time.

The other side of the board is a reminder that I can be wrong in both directions. $RLC, where I leaned bearish three hours ago at 0.936, is back at 1.013. It is still under the 1.085 line I gave, so my view there has not changed yet, but it is only about 7% away.

For MAGIC, I now want to see whether it can get back above 0.1191. If it can't, I treat the big week as finished.

#TreasureDAO #MAGIC