ZEC is currently falling below the lower bound of the box, under pressure, with consolidation in the small-timeframe upward channel!
On the larger timeframe, it looks like a pullback. This will likely take a long time to work through the pullback!
Possible scenarios:
1 The small-timeframe breaks below the upward channel and continues to fall 📉
2 Breaks above the channel and rebounds upward into the box range, continuing to aim for 2 higher—but later it will still drop
At the moment, there isn’t an obvious trading opportunity. Just be patient and watch for when an opportunity arises! #zec
On the larger timeframe, it looks like a pullback. This will likely take a long time to work through the pullback!
Possible scenarios:
1 The small-timeframe breaks below the upward channel and continues to fall 📉
2 Breaks above the channel and rebounds upward into the box range, continuing to aim for 2 higher—but later it will still drop
At the moment, there isn’t an obvious trading opportunity. Just be patient and watch for when an opportunity arises! #zec
