$DADDY Hello! ZEC is definitely a long-biased instrument, and your conviction is just as strong in your actions. But I also want to add that $5000 (just like Bitcoin at $200,000) is currently difficult to forecast. However, when there is structure, history, and a Price Action methodology, you can work with what has already happened and understand where the big player is aiming.
Areas of interest, especially from the higher timeframe where the position was built, are crucial. Right now, ZEC is at historical highs, and the start of a correction in short from these levels is highly likely. Especially when there is supporting structure — that is, the candles showed weakness.
Now I’ll attach a screenshot where on the D1 chart the lows started updating and an engulfing pattern began to form. This is a clear signal that the long scenario is weak. Price can correct deeply in order to «shake out all the extra passengers», and only then go back into longs — that’s how the market mechanics work.
There is also risk and money management. After a signal like the one shown in the screenshot, it’s better to move the trade to break-even and not let price go against you. Even better is to close most of the position! Read it and draw your conclusion.
Also today I’m expecting an excellent long trade on Bitcoin!
$DADDY #DADDY $AI.DADDY