【$MAGIC Signal】Short squeeze retest, second bullish attack

$MAGIC 1H timeframe surging then retracing, price has pulled back from the upper Bollinger Band. After a volume breakout on the 4-hour chart, the current price is retesting near the breakout level.

🎯Direction : Long

⚡Entry : 0.0620 - 0.0625 zone, staggered entries

🛑Stop loss : 0.0605

🚀Target 1 : 0.0645

🚀Target 2 : 0.0660

🛡️Trade management:
- Execution strategy : After reaching Target 1, move the stop loss to the entry price, remaining position aims for Target 2. If the price falls below 0.0615 and rebounds without strength, exit early.

Negative funding rate as high as -0.57%, but open interest remains stable, indicating that bears have not withdrawn en masse, providing a basis for a short squeeze. The 1-hour RSI has fallen from overbought territory to around 66, offering room for another upward move. Order book shows accumulation of buy orders below 0.0625, with clear intent of support. In this structure, rejection of deep retracement is a sign of strength.

View real-time market 👇 $MAGIC
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