$ZEC bounced hard off 1,119 yesterday and ran to 1,225, but it stalled right at the volume POC and is back around 1,192 now, still up about 2.4% on the day.
On the NanoTrading Fire chart (4h) the POC sits near 1,226 with a thick ask band at 1,260-1,265 above it. The liquidation map is the interesting part: a short cluster of roughly $243M sits right on top of price around 1,200-1,215, and the bigger ones (about $242M and $258M) stack at 1,327-1,335. Longs are thinner, about $177M near 1,120-1,125, with bids around 1,130 and 1,095-1,100.
Binance futures: OI climbed from about $495M to $523M during the push and has cooled to about $516M. Funding is mildly positive (~0.005%), accounts are split about 51/49 long, top traders about 58% long. Not crowded either way.
My read: a clean 4h close above 1,226 probably runs those shorts and opens 1,260 then the 1,330 pocket. Lose 1,130 and I'd expect the 1,120 long cluster to get tagged first. Leaning up while $ZEC holds 1,130 🔥
Do you think shorts at 1,200 get squeezed this week or does the POC hold?
NFA, just my read.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#ZEC #Zcash #NanoTrading
On the NanoTrading Fire chart (4h) the POC sits near 1,226 with a thick ask band at 1,260-1,265 above it. The liquidation map is the interesting part: a short cluster of roughly $243M sits right on top of price around 1,200-1,215, and the bigger ones (about $242M and $258M) stack at 1,327-1,335. Longs are thinner, about $177M near 1,120-1,125, with bids around 1,130 and 1,095-1,100.
Binance futures: OI climbed from about $495M to $523M during the push and has cooled to about $516M. Funding is mildly positive (~0.005%), accounts are split about 51/49 long, top traders about 58% long. Not crowded either way.
My read: a clean 4h close above 1,226 probably runs those shorts and opens 1,260 then the 1,330 pocket. Lose 1,130 and I'd expect the 1,120 long cluster to get tagged first. Leaning up while $ZEC holds 1,130 🔥
Do you think shorts at 1,200 get squeezed this week or does the POC hold?
NFA, just my read.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#ZEC #Zcash #NanoTrading