Thread: $MAGIC Technical Analysis โ Breakout in Play! โจ๐
Letโs break down why $MAGIC just made a powerful move โ and whatโs next.
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๐ Timeframe: 4H Chart
$MAGIC broke out of consolidation and flipped key resistance.
The bulls are back in control!
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๐ Trend: Bullish
Higher highs & higher lows
Break above $0.12 confirms structure
Trendline support still intact
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๐ Key Levels
Support: $0.095 / $0.087
Resistance flipped: $0.12
Next targets: $0.145 โ $0.16
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๐ Pattern Watch
Bullish flag breakout
Clean retest of breakout zone
Possible ascending triangle forming
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๐ Indicators
RSI: ~63 (room to run)
MACD: Bullish crossover
EMA 50/200 (1H): Golden cross confirmed
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๐ Volume Confirmation
Breakout came with strong volume
Need continued volume to push higher
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๐ฏ Trade Idea (Example)
Entry: Break/retest above $0.12
Stop Loss: Below $0.105
TP1: $0.145
TP2: $0.16
TP3: $0.185 if BTC stays bullish
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๐ง Final Thoughts
Strong breakout setup
Watch for retest or consolidation
BTC stability will help push $MAGIC further
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$MAGIC doing MAGIC things!
Congrats to those who rode this move โ more upside possible if structure holds.
