MAGIC long dubble bottom and falling wedge!
BINANCE:MAGICUSDT
MAGIC froms a dubble bottom pattern and huge falling wedge!
first taget 0.77 + 80%
second 1.0 usd +134%
MAGICUSDT.PS trade ideas
Just The Magic Idea!Hi traders...
BINANCE:MAGICUSDT CRYPTO:MAGICUSD KUCOIN:MAGICUSDT
⚠️ Disclaimer: The following insights reflect my personal perspective on the market, relying on publicly available information and historical data. While some opinions stem from my actual trades, others do not. I am not a financial advisor, and I bear no responsibility for your trading choices.
✅ Feel free to reach me out with any questions or recommendations. I am more than willing to assess and analyze any currency pair or index that piques your interest.
Comprehensive Analysis of MAGICUSDT: Awaiting a Bullish ReversalComprehensive Analysis of BINANCE:MAGICUSDT : Awaiting a Bullish Reversal
BINANCE:MAGICUSDT is currently trading close to its all-time low, presenting a potential buying opportunity. The Relative Strength Index (RSI) is signaling a massively oversold condition with a reading of 7.8, indicating a possible reversal in the near term. Additionally, a divergence is starting to manifest on the MACD, further suggesting a change in trend direction.
In September, MAGICUSDT attempted a breakout, although it turned out to be false. However, this retracement could be a necessary step for market confirmation before a potential uptrend. The coin has witnessed a substantial decline over the past 6 months, shedding 68.70% of its value1. Despite this, the fundamental utility of MAGIC as a cross-game currency in the Treasure Metaverse on Arbitrum's Layer 2 scaling solution hints at its potential for growth2.
Currently priced at $0.4299 with a market cap of $114,080,874 and a 24-hour trading volume of 37.66% $33,914,457, the token shows significant room for appreciation if market conditions favor.
Entry Strategy:
Entry: $0.43
Take Profit 1: $0.83 (Potential Profit: 93.02%)
Take Profit 2: $1.11 (Potential Profit: 158.14%)
Stop Loss: $0.38
Additional indicators suggest a mixed sentiment with Oscillators showing a neutral stance, while Moving Averages hint at a selling bias in the short term4. However, these technicals might shift with changing market dynamics.
This analysis is purely for educational purposes and not financial advice. It's crucial to conduct your own research and consult with a financial advisor before making any trading decisions. Trade at your own risk!
The MAGICUSDT IdeaCRYPTO:MAGICUSD BINANCE:MAGICUSDT
Hey traders..
The price is likely to rise to the first resistance zone (red zone), which is near the middle line of the channel. After hitting the middle line and making a few small swings, the price is likely to move up to the top of the channel, which is the second resistance zone (white area).
If the price fails to return to the channel and the pullback is not completed, it will move towards the support area shown in yellow. If the price declines, there is a possibility of a period of sideways trading between $0.4830 and $0.4550 on the high-frequency chart.
✅My opinion and suggestion is to enter a long trade above $0.4830 with targets of $0.5200 and $0.5850 after the pullback is completed.
⚠️ Disclaimer: The following insights reflect my personal perspective on the market, relying on publicly available information and historical data. While some opinions stem from my actual trades, others do not. I am not a financial advisor, and I bear no responsibility for your trading choices.
✅ Feel free to reach me out with any questions or recommendations. I am more than willing to assess and analyze any currency pair or index that piques your interest.
MAGIC/USDT Technical Analysis: Potential for a Bull RunMAGIC/USDT Technical Analysis: Potential for a Bull Run
Introduction:
In the world of cryptocurrency trading, it's essential to keep a close eye on the charts and trends. In this technical analysis, we'll take a look at OMXTSE:MAGIC and its current trading position at $0.556.
Chart Analysis:
As illustrated in the chart, #Magic is currently trading near a long-term resistance trendline. This is a crucial point to watch closely as it may have significant implications for the future price movement.
Bull Market Potential:
If #MAGIC/USDT breaks upward and closes above the trendline, there's a strong possibility that Magic will enter a long-term bull market. This could potentially lead to substantial gains, with a target range of $5 to $10 in the next bull run from #MAGIC.
Accumulation Opportunity:
On the other hand, if the trendline proves to be a strong resistance and is rejected, it might present an excellent accumulation opportunity. In this scenario, we could see the price retracing to around the $0.3 to $0.4 level.
Key Price Levels:
Resistance Levels to Watch: $0.65, $0.80, $1.08, $2
Support Level: $0.45
Conclusion:
The #MAGIC/USDT chart is currently at a critical juncture. A breakthrough above the resistance trendline could pave the way for a substantial bull market, while a rejection could offer a last chance to accumulate at lower levels. It's vital for traders and investors to monitor these key price levels closely to make informed decisions in this dynamic market.
Disclaimer:
This analysis is for informational purposes only and should not be considered as financial advice. Cryptocurrency markets are highly volatile, and it's essential to conduct your research and consult with a financial advisor before making any investment decisions.
Thank you.
Ready To See Some MAGIC?**Magic Coin (MAGIC) Fundamental**
Magic Coin is a decentralized finance (DeFi) platform that allows users to create and manage their own digital assets. The platform is powered by the MAGIC token, which is used to pay for transaction fees and to participate in governance.
Magic Coin is still under early development, but it has already attracted a significant amount of interest from the community. The platform has over 100,000 active users and has processed over $1 billion in transactions.
**Magic Coin Recent News**
* Magic Coin recently announced that it has partnered with Binance to launch a new fiat-to-crypto onramp. This will make it easier for users to purchase MAGIC tokens with fiat currencies such as USD and EUR.
* Magic Coin is also working on a new decentralized exchange (DEX) that will allow users to trade MAGIC tokens and other digital assets without the need for a central intermediary.
**Disclaimer**
I am not a financial advisor and this is not financial advice. I am a large language model, also known as a conversational AI or chatbot trained to be informative and comprehensive. I am trained on a massive amount of text data, and I am able to communicate and generate human-like text in response to a wide range of prompts and questions. For example, I can provide summaries of factual topics or create stories.
Please do your own research before making any investment decisions.
finally magic breaking descending channel seems like has already bottomed out and getting ready for solid recovery
formed and breaking descending channel expecting breakout soon incase of successful breakout expecting massive recovery in midterm
expecting 200% bullish wave in midterm incase of successful breakout
Magic/usdt longmagic is on trend line and magic can break that.
you can setup long position after that break.
first target : 0.77$
now: 0.56
Enjoy of trade :)
MAGIC invert Head and ShouldersMAGIC UPDATE: MAGIC created inverse H&S on daily TF and broke out from it already from the neckline with a good retest. What I’m waiting for is MAGIC to flip resistance to support at 0.5854 so we can take a good long to the daily resistance above where the imbalance is at 0.7177…. Don’t rush into longing it yet
Wait for daily to flip above the mention price….
Follow me for more alts update
Keep an eye on #MAGIC/USDT Diagonal Trendline in 4-Hour TF!Keep an eye on #MAGIC/USDT Diagonal Trendline in 4-Hour TF!
Wait for Previous Day Low $0.542 and zone breakdown to short $MAGIC.
The major resistance level is PMG $0.5780.
Magic : lost its charm.Short it without any doubt.
good RR.
wait for the entry at trendline retest on daily and that's it.
Magic 12h is bullish if... Magic is bullish and looks solid especially if it remains above point C.
Yous SL will be below the the price closes below the red line in 12h frame.
I believe it will continue upward so make sure to take profit as long it is going up!
All the best insha Allah!
Magic 1d looks amazing... Magic looks amazing since it is above the Vol. Bottom
Your SL will be 1d closing below the red line.
All the best insha Allah!
MAGICUSDT wants the breakout?MAGICUSDT is currently exhibiting a falling wedge pattern above the key weekly level at $0.4496. This pattern suggests a period of consolidation and potential trend reversal.
According to the trading principles associated with Plancton's strategy, a potential long trade could be considered if the following conditions are met:
Breakout from Resistance: The first condition involves a breakout from the $0.5313 resistance level. A clear and decisive move above this resistance would signify a significant upward movement in the price.
Confirmation of Support: After the breakout, it's crucial to see the former resistance level at $0.5313 hold as new support. This confirmation would indicate that the price is likely to continue its upward trajectory.
Falling Wedge Pattern: The falling wedge pattern itself is a bullish pattern. It often precedes a bullish breakout when the price narrows within the wedge and eventually breaks out to the upside.
If the price of MAGICUSDT satisfies these conditions, it would align with the rules outlined by Plancton's trading strategy. Traders who follow this approach may consider opening a new long position, anticipating further price appreciation.
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <= 1h structure.
Follow the Shrimp 🦐
MAGICI will be short in this TA
1 - 4 H close below 0.49$ will dump the coin lower (good support levels i mentioned in the chart)
Bounce now with breaking through resistance line (blue line) means the coin will bounce will other resistance levels above
#MAGICUSDT Trading Setup! 6-2023
#MAGICUSDT (Mid-term Setup) RISKY
Buy: 0.84000000 - 0.75600000
Take-Profit Targets:
Target 1: 0.98700000
Potential Profit: 17.50%
Target 2: 1.15500000
Potential Profit: 37.50%
Target 3: 1.63800000
Potential Profit: 95.00%
Stop-Loss: 0.63000000
Signal Risk/Reward: 25.00% / 95.00%
R:R = 2:1
Potential ROI: 50%
Risk Percentage / Position size: 1%
Exchange: Binance, KuCoin, ByBit,
Duration: 7-45 days
Confidence in Trade: Low
Technical Analysis:
we ask Allah reconcile and repay.
Disclaimer: The analysis and trading setups provided are based on our interpretation of market data and should not be considered as financial advice. Trading involves risk, and past performance is not indicative of future results. It is essential to conduct your own research and consider your individual financial circumstances before making any trading decisions. We do not guarantee the accuracy or completeness of the information provided. By using our analysis and trading setups, you acknowledge that you are solely responsible for your trades and investments, and we are not liable for any losses or damages incurred. It is recommended to consult with a qualified financial advisor before engaging in any trading activities.
we ask Allah reconcile and repay
IS Magic feeling magical?This technical analysis reviews the digital asset MAGICUSDT on the OKX platform. I've performed an analysis using a three-hour (3H) and a forty-five-minute (45M) timeframe, and the crucial findings are presented here. In the subsequent sections, the methodology, detailed analysis, and results will be expanded upon.
GENERAL INFORMATION:
MAGICUSDT has recently shown considerable volatility, with a significant 17% pump in one trading day and substantial transaction volumes. This report aims to analyze its recent performance, assess the market sentiment, and provide insights into its near-term price movements. Moreover, given the significant influence of Bitcoin (BTC) on the broader cryptocurrency market, a brief analysis of BTC's performance is also provided.
Methodology:
The analysis utilizes various technical indicators, including candlestick patterns, trading volumes, key resistance and support levels, and an assessment of overbought (OB) conditions. Robo advisors (ROBOs) are also used to provide trading signals, forming part of our interpretation.
Analysis and Interpretation
3H Review
The following six hours could be pivotal for MAGICUSDT. The asset needs to open and close above $1.0690 to foster more bullish momentum. An overbought warning has been in place since the 28th, suggesting potential price exhaustion. Interestingly, there are still two out of three bullish ROBOs indicating that profit-taking could be an option for those currently in trade. Despite the recent rally, the overall sentiment appears neutral, tending towards bearish considering the current performance of BTC.
45M Timeframe
A strong candle formation was observed on the 30th, confirmed by ROBOs. MAGICUSDT managed to open and close above the critical $1.0433 level, which served as a support. However, it rapidly reverted to a resistance zone, as seen by the repeated strong rejection. The current location is a "hammer head" in the trading squeeze, indicating an imminent decision on the asset's next move. Ideally, an open-close above $1.0430 could suggest a more bullish sentiment or potential squeeze target.
However, all three ROBOs are currently indicating buy signals, suggesting a bullish stance. Yet, this could potentially be a trap leading to a short opportunity, warranting caution for traders. The overall sentiment leans bullish, but it is recommended to wait for the support box to break before initiating a short to the point of interest (POI).
BTC Performance:
The performance of BTC presents a bearish signal on a 45M timeframe. It is currently hovering between the 50/25 level, which is usually considered a bearish indication. Also, it is hovering around the POI, with a rejection at the $28k level observed. An entry suggestion on the 30th was at $27621.
Conclusion
In conclusion, the next few hours will be decisive for MAGICUSDT, with the possibility of significant price movements. Traders should pay close attention to the asset's price behavior around the key levels highlighted in this analysis. Considering the market's prevailing volatility, careful consideration of risk management strategies is recommended.
Disclaimer
This analysis is based on the current market situation and historical data. It does not guarantee future performance. Cryptocurrency trading involves substantial risk, and each investor should consider their risk tolerance level before making decisions.
MAGIC Possible Playout ChartThe price of Magic has successfully broken through its resistance level at $0.746. The presence of a bullish flag pattern also indicates that Magic has the potential to continue its upward momentum. The observed potential for an increase has a nearest target at $0.8725, with a potential profit opportunity of 17.13%. Currently, the market situation provides a favorable opportunity for engaging in swing trading or scalping.
Moreover, the market capitalization of Magic has reached $169,260,206, and it holds the 153rd position on CoinMarketCap (CMC). With a relatively high market capitalization rank, Magic is considered a fairly popular asset for trading. The total trading volume for Magic has reached $51 million USD.
Apex Zone ahead | Just follow itDaily Chart
BINANCE:MAGICUSDT is moving to apex zone and massive move will happen
MAGIC is along the support but some times rejected the resistance
So, if MAGIC breakout resistance, MAGIC will go up 0.86
Otherwise, MAGIC breakdown support, it can down to 0.635
RSI is crossing over 50 so I expect MAGIC will breakout
Wait for next move
MAGICUSDTTime to rebuy BINANCE:MAGICUSDT
"Daily crypto market analyses I provide are personal opinions & not financial advice. Trading carries risks, so do your own research & seek advisor's help."
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MAGIC ANALYSIS (4H)Hi, dear traders. how are you ? Today we have a viewpoint to BUY/LONG the MAGIC symbol.
This analysis is the diametric F wave of the big D wave of the previous analysis. In fact, this is a zoomed-in analysis of the previous analysis
Wave F from D, which is a diametric, has not finished yet, and I think we should move towards two announced targets from SWAP or OB.
Note: The structure of the previous analysis, which is 1D time frame, is valid
For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
Comment if you have any questions
Thank You
