magic usdt long magic/usdt , long position based on trend and parallel channelLongby Mohamed_ChartUpdated 336
MAGIC : TA VIEWMAGIC on small time frame trending idea. Depending on the chart a view to $2 USD If this coin is able to confirm building, then it's on the right way for the next target. Longby GoldenbreakoutUpdated 8813
Shockingly effective way of catching crypto peaksHello friends. We have evolved our understanding of open interest by looking through hundreds of different altcoin charts and ultimately came to the conclusion that everything we thought we knew was a lie. We had thought that open interest functioned like this: Rising open interest means the current trend is strong, and falling open interest means the current trend is weak. This could make sense because let's say the price is rising and open interest is rising, that means more people are shorting and the shorts will fuel a move up, right? We learned this idea from Bitcoin Trading Challenge. But in this case, he was dead wrong, and the charts demonstrate this clearly. Go on Coinalyze right now and pull up a chart of Dogecoin. Scroll back to a time when Dogecoin pumped. Literally, any time when it pumped. Then add the aggregated open interest onto that chart. What you will find is that when this coin pumps sharply, and open interest also increases sharply, the move almost always leads to an equally sharp crash which causes open interest to fall. How do we explain this occurrence? coinalyze.net I have a new theory that I came up with myself this time. Sharply rising open interest means that retail traders have become very exuberant and are opening lots of highly leveraged long positions. Since these positions are high leverage, the open interest also falls when prices start to tick down, as their positions are closed off at a loss. It's true that shorts are also opening, but this is not very relevant since retail is crowding the long trade and the market thoroughly enjoys punishing retail exuberance. The strategy: Look for an altcoin that rises sharply in both price and open interest and then ticks down sharply to show a change of trend. Short with a stop clean above the local high, and ride the crash down to the base of the pump. Notes: This strategy should not be used on heavily illiquid shitcoins. These should not be traded at all, in our view. They present too much risk that the trade may have high slippage for an exit. Additionally, if there has been a strongly positive news event like the Elon Musk Twitter buyout for Dogecoin, you will see that this strategy is not effective. Shortby bowtrix335
MAGICUSDT Ascending Channel!MAGICUSDT technical analysis update Buy zone: Below $1.58 Stop loss: $1.37 Take Profit 1: $1.73 Take Profit 2: $1.88 Take Profit 3 : $2.10 Always keep stop loss Thanks HexaLongby HexaTrades1112
Magic Coin Price Prediction 0.87 Key LevelThis is a chart of the price of the Magic coin, presented on a weekly time scale. We've been tracking the Magic coin's price movements over the past few weeks, and have identified a key level of resistance that the price has recently broken through. Based on our analysis, the Magic coin appears to have broken through a key level of resistance on the weekly chart, indicating that the market sentiment towards this coin is bullish. However, as with all investments, there are no guarantees and it is important to be aware of the risks involved. Given this, if we see a dip in the price of the Magic coin back to the 0.87 level, it would present a good buying opportunity for those looking to invest in this coin. However, it's important to keep in mind that this analysis is based on past price movements and should not be used as a sole basis for making investment decisions. Other market indicators, economic and political events, and fundamental analysis should also be considered when trying to predict future movements of the Magic coin's price.by SuperTradeish2
MAGIC token formed bullish Gartley for upto 26.50% pumpHi dear members , hope you are well and welcome to the new trade setup of MAGIC token with US Dollar pair. On a 4-hr time frame, MAGIC has formed a bullish Gartley pattern for another pump soon. Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with tradeLongby moon3337
MAGIC ShortBINANCE:MAGICUSDT If the price reaches or gets close to the indicated area, it is a good idea to make a short, I consider that it is a fairly safe and good trade.Shortby PETEROLO_291Updated 3
$MAGIC - BREAKING THE CHANNELI would wish I could say I bought more in the channel. I think this will be one of the biggest performers in Q1 & Q2 of 2023. A potential 100x. The 'Nintendo' of Crypto. An #arbitrum-based coin with huge potential. Longby CryptoBoj0
Magic/usdt to fill wick.. BullishMagic/usdt to fill wick.. Bullish as long as bitcoin closes daily above 19.5k in my eyes.Longby UnknownUnicorn3237473113
Long MagicThis bull flag is looking really bullish and it's been holding strong. We could easily take out the shorters with stop losses with an impulse buy. The height of the pole is calling for the 1.618 fibonacci level. I see Magic pulling this off. This chart based off of The Elliot Wave Theory, Fibonacci, EMA’s, MacD , RSI , Momentum, and resistance/support zones combined with patterns.Longby WaltrAlexander6
At near bottom of 7-Week Cup & Handle formation on $MAGIC $MAGIC looks to be forming an approximately 7-week Cup & Handle formation (C&H) expected to pan out marked on the chart. Definition : As a stock forming this pattern tests old highs, it is likely to incur selling pressure from investors who previously bought at those levels; selling pressure is likely to make price consolidate with a tendency toward a downtrend trend for a period of four days to four weeks, before advancing higher. A cup and handle is considered a bullish continuation pattern and is used to identify buying opportunities. It is worth considering the following when detecting cup and handle patterns: Length: Generally, cups with longer and more "U" shaped bottoms provide a stronger signal. Avoid cups with sharp "V" bottoms. - CHECK Depth: Ideally, the cup should not be overly deep. Avoid handles that are overly deep also, as handles should form in the top half of the cup pattern. - CHECK (so far) Volume: Volume should decrease as prices decline and remain lower than average in the base of the bowl; - CHECK ; it should then increase when the stock begins to make its move higher, back up to test the previous high. - PARTIAL CHECK (some volume spikes but still below average at this price) Inline with the C&H Pattern, my own take is that $MAGIC is a well established token gaining traction in the "P2E blockchain metaverse" gaming space. The devs are working to launch their own chain at which point $MAGIC will be migrated from a coin, and tokenized (token), opening up opportunity to be listed on large exchanges such as Coinbase, Binance, Kraken, etc. Should that happen, the volume traded will 100x and the value could sky rocket. Longby PyleStyle115