$MAGIC Short Liquidation Alert
A notable $5.0263K was liquidated at the price of $0.54385, signaling strong bullish momentum as shorts were forced out.
What’s Next?
The liquidation indicates buyers are gaining control. Let’s plan the next move carefully:
Buy Zone
Entry Range: $0.530 - $0.540
This zone could act as a support area for the next leg up.
Target Levels
Target 1: $0.560 (short-term resistance)
Target 2: $0.580 (mid-term profit area)
Target 3: $0.600 (psychological breakout level)
Stop Loss
Place your stop loss at $0.520 to minimize risk in case of a reversal.
Key Insights
Bullish Sentiment: The short squeeze suggests continued upward pressure.
Volume Analysis: Check for increasing trading volume to confirm the breakout.
Risk Management: Stick to your plan, and don’t over-leverage.
Keep a close watch on the market’s reaction to this liquidation and adjust your strategy as needed. Patience and discipline are your best tools for success!