KARDMagic (Treasure) (MAGIC) futures data
Latest scan: October 13 at 08:08 AM UTC · updated every 4 hours
CROWD · FUNDING
CROWDED SHORT · p3Extreme short crowding: most futures traders on MAGIC are betting on a fall. The funding rate is at p3, in the lowest 5% of the last 6 months. If price turns up, short covering can speed up the move (short squeeze).
72-hour average funding: -134.00 bp
AVERAGE DAILY MOVE (ATR)
MAGIC moves about this much per day. A stop much tighter than this is risky.
SQUEEZE
NoBand width is at the 100th percentile of its history.
OPEN INTEREST · 24H
No notable change.
MARKET (BTC)
Bull · calm · trend upSETUP
Crowded short in a calm bull marketMost futures traders are betting on a fall, but BTC is in a bull regime and the market is calm; crowded shorts can get squeezed.
MAGIC price chart 4h · Binance futures
Chart by TradingView Lightweight Charts™
Key levels
| LEVEL | PRICE | DISTANCE |
|---|---|---|
| 20-day high | 0.16369 | +33.6% |
| 20-day low | 0.04740 | −158.6% |
| 55-day high | 0.16369 | +33.6% |
| 55-day low | 0.03980 | −208.0% |
Active signals
| Crowd | MAGIC · everyone is betting on a fall | p2 |
What happened after signals on MAGIC in the past?
Crowded short (everyone betting on a fall): 52 times since January 2023; price moved in the upward direction 7 days later 43% of the time (normal: 44%). Crowded long (everyone betting on a rise): 51 times since January 2023; price moved in the downward direction 7 days later 57% of the time (normal: 56%). 20-day high breakout: 34 times since January 2023; price moved in the upward direction 7 days later 28% of the time (normal: 44%). 20-day low breakout: 57 times since January 2023; price moved in the downward direction 7 days later 56% of the time (normal: 56%).
| SIGNAL | N | EXPECTED DIRECTION AFTER 7D | NORMAL TIMES | AVG. 7D |
|---|---|---|---|---|
| Crowded short (everyone betting on a fall) | 52 | 43% | 44% | +0.9% |
| Crowded long (everyone betting on a rise) | 51 | 57% | 56% | −0.5% |
| 20-day high breakout | 34 | 28% | 44% | −4.4% |
| 20-day low breakout | 57 | 56% | 56% | −2.0% |
Historical statistics; they don't show the future. If the difference from normal times is small, the signal carries little directional information on this coin.
FAQ
What does the MAGIC funding rate show right now?
Extreme short crowding: most futures traders on MAGIC are betting on a fall. The funding rate is at p3, in the lowest 5% of the last 6 months. If price turns up, short covering can speed up the move (short squeeze).
Are longs or shorts crowded on MAGIC?
As of the latest scan the crowd on MAGIC is: crowded short (funding percentile p3). p0 is the most short and p100 the most long moment of the last 6 months.
How much does MAGIC move per day on average?
MAGIC's average true range (ATR) is about 16.5% per day. A stop much tighter than this is more likely to be hit by an ordinary swing.
Are there liquidations on MAGIC?
No notable liquidation wave in the latest scan. Open interest changed −2.0% and price +0.6% in 24 hours.