30 measured touches. That is how many times the 1h chart has traded 484.45 across its last 299 candles, and price is 485.45 right now.
Sellers have run this session. The 15m and 1h EMA stacks are both bearish (9<21<50), 1h RSI is 26.14, and price sits at 4.8% of its 24h range after a 4.86% drop. On the lower timeframes this is not a dip inside an uptrend. It is a slide into the floor.
484.45 is where $ZEC is decided, on 30 measured touches. Lose it and the next measured shelves are 478.04 with 36 touches and 470.24 with 42. Reclaiming 490.00, a level with 37 touches, is what invalidates the bearish read.
The uncomfortable part: volume is 1.7x its 20-period average on the 15m and 1.53x on the 1h. That participation is arriving into the decline, not into a bounce. Sellers are not thinning out.
Wider frame: the daily EMA stack is still bullish (9>21>50) with RSI at 50.12. The daily has not broken. The hour already has. $BTC and $ETH are the reference for whether this is one chart or the whole tape.
Which do you trade here, the daily that still holds or the hour that already broke?
#MarketSentimentToday #WhaleMovements
Analysis, not financial advice.
Sellers have run this session. The 15m and 1h EMA stacks are both bearish (9<21<50), 1h RSI is 26.14, and price sits at 4.8% of its 24h range after a 4.86% drop. On the lower timeframes this is not a dip inside an uptrend. It is a slide into the floor.
484.45 is where $ZEC is decided, on 30 measured touches. Lose it and the next measured shelves are 478.04 with 36 touches and 470.24 with 42. Reclaiming 490.00, a level with 37 touches, is what invalidates the bearish read.
The uncomfortable part: volume is 1.7x its 20-period average on the 15m and 1.53x on the 1h. That participation is arriving into the decline, not into a bounce. Sellers are not thinning out.
Wider frame: the daily EMA stack is still bullish (9>21>50) with RSI at 50.12. The daily has not broken. The hour already has. $BTC and $ETH are the reference for whether this is one chart or the whole tape.
Which do you trade here, the daily that still holds or the hour that already broke?
#MarketSentimentToday #WhaleMovements
Analysis, not financial advice.