$MAGIC has already touched 0.16369, but has now corrected to 0.1531. This area will determine whether the upward momentum remains strong or is starting to weaken.
On the daily timeframe, Fibonacci and Supply & Demand need to confirm whether buyers can still defend the demand zone.
If MAGIC reclaims 0.16369, there may be room for the uptrend to continue. But if support at 0.11 breaks and cannot be reclaimed, be mindful of the risk of a deeper retracement.
You don’t always have to chase the market. Wait for confirmation, manage your risk, and let price show you the way.
On the daily timeframe, Fibonacci and Supply & Demand need to confirm whether buyers can still defend the demand zone.
If MAGIC reclaims 0.16369, there may be room for the uptrend to continue. But if support at 0.11 breaks and cannot be reclaimed, be mindful of the risk of a deeper retracement.
You don’t always have to chase the market. Wait for confirmation, manage your risk, and let price show you the way.