$MAGIC Doubled overnight—the weekend gains are all in altcoins!
Brothers, the major coins got hammered yesterday, and today the altcoins are teaching everyone a lesson. Just look at MAGIC: it started at 0.06 and shot straight up to 0.163, surging 129% in a day.
Why such a huge move? The majors have little liquidity over the weekend, so all the money has gone looking for opportunities in altcoins. BTC has just finished pulling back, and the main trend-following capital has nowhere else to go, so it can only pile into small-cap, older altcoins like this. They’re easy to pump, and sentiment catches fire in an instant.
But take a look at the 1-hour chart: after peaking at 0.163, it’s now pulled back to around 0.15. Clearly, profit-takers are rushing for the exits. The positive funding rate shows leveraged longs are piling in, and the RSI is already above 80—in seriously overbought territory. If you blindly chase it here, chances are you’ll end up stranded at the top.
With these wildly pumping coins, you have to wait for a pullback and signs of stability. Don’t try to guess the move yourself—a mistimed entry can mean liquidation. This weekend, Brother Gang is focused on altcoins. If you want to catch this move and find the next coin to double, come find me at Iron Fortress. #XRP财库公司Evernorth完成SPAC合并 #比特币反弹至8.3万美元
Brothers, the major coins got hammered yesterday, and today the altcoins are teaching everyone a lesson. Just look at MAGIC: it started at 0.06 and shot straight up to 0.163, surging 129% in a day.
Why such a huge move? The majors have little liquidity over the weekend, so all the money has gone looking for opportunities in altcoins. BTC has just finished pulling back, and the main trend-following capital has nowhere else to go, so it can only pile into small-cap, older altcoins like this. They’re easy to pump, and sentiment catches fire in an instant.
But take a look at the 1-hour chart: after peaking at 0.163, it’s now pulled back to around 0.15. Clearly, profit-takers are rushing for the exits. The positive funding rate shows leveraged longs are piling in, and the RSI is already above 80—in seriously overbought territory. If you blindly chase it here, chances are you’ll end up stranded at the top.
With these wildly pumping coins, you have to wait for a pullback and signs of stability. Don’t try to guess the move yourself—a mistimed entry can mean liquidation. This weekend, Brother Gang is focused on altcoins. If you want to catch this move and find the next coin to double, come find me at Iron Fortress. #XRP财库公司Evernorth完成SPAC合并 #比特币反弹至8.3万美元