【$MAGMA Signal】Short squeeze in progress, pullback is an opportunity

$MAGMA 1H timeframe experiences a violent rally followed by consolidation at high levels, 4H Bollinger Bands are fully expanded, and the price has broken above the upper band. RSI on the 1H chart surges to 91, indicating extreme bullish enthusiasm. The order book shows frantic order cancellations, with sparse sell orders, revealing the full extent of the capital support.

🎯Direction: Long (buy on pullback)

⚡Entry/Orders: 0.10660 - 0.10895, staggered entries within this range

🛑Stop Loss: 0.10600

🚀Target 1: 0.11836

🚀Target 2: 0.12307

🛡️Trade Management:
- Execution strategy: Reduce 50% of the position after reaching Target 1, and move the stop loss to breakeven. If the price falls back to the entry level, exit automatically to protect capital.

Funding rates and open interest are rising in tandem, indicating a typical short squeeze structure is forming. The 1H MACD fast and slow lines are strongly diverging, with bullish momentum still intact. Despite short-term overbought conditions, the 4H chart has just broken through a previous dense trading zone, with selling pressure quickly absorbed. The support around 0.1060 near the 1H EMA50 and previous breakout point is expected to hold. Under this structure, chasing the high directly carries higher risk; patiently waiting for the price to retest key levels is a more rational approach.

View real-time market 👇 $MAGMA
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