🐋 $MAGIC has broken above the 0.125 level. The area around a key level is often where limit orders and stop-losses are most concentrated.
Once it breaks above, short positions’ stop-losses overhead can be triggered one after another, driving a sharp move higher. But if volume fails to follow through, it can just as easily be pushed back below the level.
Where do you see the key dividing line?
#MAGIC
Once it breaks above, short positions’ stop-losses overhead can be triggered one after another, driving a sharp move higher. But if volume fails to follow through, it can just as easily be pushed back below the level.
Where do you see the key dividing line?
#MAGIC