I'm watching a potential LONG on $MAGIC
Entry: $0.1130–$0.1140 after confirmation
TP1: $0.1200
TP2: $0.1250
SL: $0.1085
You know why I'm watching MAGIC for a LONG?
Look at the aggressive sell-off from the $0.160 region.
That wasn't just a normal pullback. Price dropped sharply, volume expanded during the sell-off, and the market flushed liquidity below the recent lows near $0.100.
But here's the interesting part.
Buyers stepped in after that flush, and price started recovering toward $0.113. This creates a potential relief-bounce setup, especially if sellers who entered late struggle to push price back down.
My key level is $0.113–$0.114.
If MAGIC reclaims this area, holds it as support, and prints a bullish market-structure shift, I’ll be watching for a move toward $0.120 first, followed by $0.125.
The important distinction?
A liquidity sweep can create the conditions for a reversal, but it doesn't confirm one by itself.
If resistance rejects price, I'm staying out. No confirmation, no entry. 📈
Entry: $0.1130–$0.1140 after confirmation
TP1: $0.1200
TP2: $0.1250
SL: $0.1085
You know why I'm watching MAGIC for a LONG?
Look at the aggressive sell-off from the $0.160 region.
That wasn't just a normal pullback. Price dropped sharply, volume expanded during the sell-off, and the market flushed liquidity below the recent lows near $0.100.
But here's the interesting part.
Buyers stepped in after that flush, and price started recovering toward $0.113. This creates a potential relief-bounce setup, especially if sellers who entered late struggle to push price back down.
My key level is $0.113–$0.114.
If MAGIC reclaims this area, holds it as support, and prints a bullish market-structure shift, I’ll be watching for a move toward $0.120 first, followed by $0.125.
The important distinction?
A liquidity sweep can create the conditions for a reversal, but it doesn't confirm one by itself.
If resistance rejects price, I'm staying out. No confirmation, no entry. 📈