$ZEC : THE FINAL LEG DOWN?
Everyone is getting increasingly bearish on $ZEC , but I think we could be approaching the final stage of this correction.
The real bearish signal came when $ZEC lost $1,420 and broke its daily swing structure. That was the confirmation we needed, and the move lower has played out since.
After weeks of failed rallies, patience is fading. Now everyone is talking about sub-$500.
Funny how people follow the entire move down, only to become most confident in the bearish case near the lows.
If the macro head-and-shoulders neckline breaks, we could see one final liquidity sweep around the previous all-time-high region.
But even that wouldn’t automatically make me bearish on much lower prices.
My base case remains the same: one final leg down, followed by consolidation and an eventual move higher.
Everyone is getting increasingly bearish on $ZEC , but I think we could be approaching the final stage of this correction.
The real bearish signal came when $ZEC lost $1,420 and broke its daily swing structure. That was the confirmation we needed, and the move lower has played out since.
After weeks of failed rallies, patience is fading. Now everyone is talking about sub-$500.
Funny how people follow the entire move down, only to become most confident in the bearish case near the lows.
If the macro head-and-shoulders neckline breaks, we could see one final liquidity sweep around the previous all-time-high region.
But even that wouldn’t automatically make me bearish on much lower prices.
My base case remains the same: one final leg down, followed by consolidation and an eventual move higher.
