🐋 $MAGIC has fallen below the 0.12 level. Areas around key levels are often where limit orders and stop-losses are most concentrated.
After a break below, stop-losses on long positions underneath can be triggered one after another, leading to a faster downward move. But if large buyers step in at lower levels, the price could also be pulled back above the level.
Which do you pay more attention to: technicals or sentiment?
#MAGIC
Just a note, not investment advice.
After a break below, stop-losses on long positions underneath can be triggered one after another, leading to a faster downward move. But if large buyers step in at lower levels, the price could also be pulled back above the level.
Which do you pay more attention to: technicals or sentiment?
#MAGIC
Just a note, not investment advice.