Short liquidation leverage continues to build above the current price, with a major cluster around $0.5254 (~$1.50M). If momentum continues, that zone could become the next liquidity target.
The thesis behind $DASH was the exceptional move in $ZEC to the $700+ level.
That was the strongest part of the thesis, and it’s now broken (at least for now )
Capital efficiency is one of the biggest factors separating successful traders from unsuccessful ones.
Even if the trade eventually works, it’s not worth the doubt, the opportunity cost, or the negative emotions of sitting through it.
$ZEC looks very weak and appears due for a larger correction. Because of that, I don’t expect the privacy-coin narrative to gain much momentum anytime soon.
No win. No loss. Spot position closed at break-even.