$MAGMA is now looking like that very moment when the crowd has already bought a beautiful story, and the chart decided to remind everyone who’s in charge here. 🩸
First came the push to $0.69.
Then— a sharp sell-off.
And now it’s especially interesting to see who’s still inside.
Longs are already at $4.29M versus $1.53M for shorts.
L/S — 280%.
But only 19.69% of longs are in profit.
For shorts, it’s the other way around—65.68% are still sitting in gains.
I really don’t like this picture for anyone who was jumping in after the pump.
Buyers came at the top, and the market can now use their positions as fuel.
I wouldn’t chase after $MAGMA right now.
First, I want to see where the seller stops.
#Crypto #MAGMA
First came the push to $0.69.
Then— a sharp sell-off.
And now it’s especially interesting to see who’s still inside.
Longs are already at $4.29M versus $1.53M for shorts.
L/S — 280%.
But only 19.69% of longs are in profit.
For shorts, it’s the other way around—65.68% are still sitting in gains.
I really don’t like this picture for anyone who was jumping in after the pump.
Buyers came at the top, and the market can now use their positions as fuel.
I wouldn’t chase after $MAGMA right now.
First, I want to see where the seller stops.
#Crypto #MAGMA
