$MAGIC : Loses Key Demand Zone: Next Support Level Unprotected
SHORT SETUP MAGIC
Entry: $0.06760 - $0.06800
Stop Loss: $0.07050
Take Profit: $0.06240 (2R)
Key Levels: Support $0.06610 | Resistance $0.07480
Technical Analysis for $MAGIC : The price sits below the 9EMA (0.06818) but above the 21EMA, and MACDs line is under its signal with a negative histogram, indicating short pressure. ADX at 42 confirms a strong trend. Stochastic K is low (~20), a possible bounce cue, yet the nearest 1hour support is 0.0661. A break below would confirm the short bias.
Market Context: BTC fell 2.3% on the day, trading around $83,934 in a broadly negative market where 86.5% of assets are red. The overall
SHORT $MAGIC
SHORT SETUP MAGIC
Entry: $0.06760 - $0.06800
Stop Loss: $0.07050
Take Profit: $0.06240 (2R)
Key Levels: Support $0.06610 | Resistance $0.07480
Technical Analysis for $MAGIC : The price sits below the 9EMA (0.06818) but above the 21EMA, and MACDs line is under its signal with a negative histogram, indicating short pressure. ADX at 42 confirms a strong trend. Stochastic K is low (~20), a possible bounce cue, yet the nearest 1hour support is 0.0661. A break below would confirm the short bias.
Market Context: BTC fell 2.3% on the day, trading around $83,934 in a broadly negative market where 86.5% of assets are red. The overall
SHORT $MAGIC
