$MAGIC BUY SETUP IDEA 💡
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#MAGIC/USDT Technical Analysis
1. Ascending Triangle Breakout:
MAGIC has broken out of the ascending triangle pattern with volume confirmation.
The Ichimoku Cloud signals a strong bullish momentum, supporting the breakout.
2. Buy Zone:
The ideal buy entry point is just above the breakout level around $0.42 to $0.43. This ensures confirmation of the breakout from the triangle.
3. Take-Profit Targets:
First Take-Profit (TP1): Around $0.55, near the next resistance zone.
Second Take-Profit (TP2): Around $0.70, at the upper resistance area where historical price action indicates selling pressure.
4. Stop-Loss (SL):
Place a stop-loss below the triangle's lower boundary, around $0.36 to $0.38, to protect from invalidating the bullish breakout.
5. Sell Zone:
If the price falls back under the breakout point and closes below $0.40, this could signal a false breakout, leading to selling pressure.
This strategy ensures risk management while capitalizing on potential upward movement.
