đ´ăBearish ¡ Short Sellingă $MAGMA
I just watched the order book around $MAGMA , and honestly itâs a bit nauseating. In the last 24 hours itâs been smashed by nearly 29%. The current price is 0.25274, and itâs right at the top of the decliners list. In the group, itâs all âit can still dropâ talkâbut have you noticed that after it got hammered down to the 0.253 area, the push downward has started to dull? Sell orders are thin and scattered, while buy orders just below 0.252 are quietly picking up. This doesnât smell rightâthis is a classic panic-tail phase to bait shorts. Whoever rushes in right now is basically providing fuel for the rebound.
Look at the microstructure. The nearest resistance above is 0.2565. Further up at 0.2607 is the supply wall that turned over after the old support broke. These two levels are where shorts can really enter comfortably. Iâm waiting for it to bounce back into the 0.2555â0.2580 zone, then Iâll stagger shorts thereânot blindly smash at the current price.
First target below: 0.2460. If that breaks, the extension target is 0.2392. That section is where todayâs real meat is.
Discipline first and clear: the stop-loss defense level is at 0.2593. As long as the four-hour close stays above it, it means this leg of selling was a fake fall and a shakeout. Iâll immediately cut my loss and leaveâno holding bags, no adding to average down. This trade has a risk-reward ratio of more than 3x. Itâs worth waiting until price reaches the level I want. Brothers, do you think this move is a bounce to short, or will it just drift down in the red? Drop your order level in the comments.
#ĺ¸ĺŽĺšżĺş #$MAGMA #ĺ續ĺŽć #ĺ犺 #Market Analysis
I just watched the order book around $MAGMA , and honestly itâs a bit nauseating. In the last 24 hours itâs been smashed by nearly 29%. The current price is 0.25274, and itâs right at the top of the decliners list. In the group, itâs all âit can still dropâ talkâbut have you noticed that after it got hammered down to the 0.253 area, the push downward has started to dull? Sell orders are thin and scattered, while buy orders just below 0.252 are quietly picking up. This doesnât smell rightâthis is a classic panic-tail phase to bait shorts. Whoever rushes in right now is basically providing fuel for the rebound.
Look at the microstructure. The nearest resistance above is 0.2565. Further up at 0.2607 is the supply wall that turned over after the old support broke. These two levels are where shorts can really enter comfortably. Iâm waiting for it to bounce back into the 0.2555â0.2580 zone, then Iâll stagger shorts thereânot blindly smash at the current price.
First target below: 0.2460. If that breaks, the extension target is 0.2392. That section is where todayâs real meat is.
Discipline first and clear: the stop-loss defense level is at 0.2593. As long as the four-hour close stays above it, it means this leg of selling was a fake fall and a shakeout. Iâll immediately cut my loss and leaveâno holding bags, no adding to average down. This trade has a risk-reward ratio of more than 3x. Itâs worth waiting until price reaches the level I want. Brothers, do you think this move is a bounce to short, or will it just drift down in the red? Drop your order level in the comments.
#ĺ¸ĺŽĺšżĺş #$MAGMA #ĺ續ĺŽć #ĺ犺 #Market Analysis