$MAGMA
caught my eye this morning after it bounced clean off the 0.15 zone with some decent volume behind it. Price is sitting at 0.15925 right now and the structure on the lower timeframes is starting to tighten up in a way that usually means something is about to happen.
What got my attention was how it held that level without much of a fight. Smart money does not usually let a level like that breathe that long unless they are accumulating. Could be nothing but it feels like distribution is done and buyers are slowly stepping in.
My plan here is pretty straightforward. Entry 1 around 0.158 where the recent consolidation base sits and Entry 2 a bit lower at 0.152 just in case we get one more shake before the move. Take Profit 1 is at 0.172 which is the last local high it needs to clear and Take Profit 2 is up at 0.189 if momentum carries. Stop Loss goes at 0.144 below the swing low where the thesis would be invalid.
Feels like this one could push higher if it holds structure into the next few hours. I am watching this closely because the setup is too clean to just scroll past.
As always size accordingly and do not put in more than you are okay losing. Crypto moves fast and setups fail. This is just what I am seeing not financial advice.
Not financial advice. Do your own research before making any trading decisions.
#cryptosignals #altcoins #magma Follow for more live setups as I find them.