ZKC dropped -16.6% on 2x volume — but here is the weird part: the daily trend is still up and RSI is not even oversold.
📊 The Picture: At $0.0539, 4H RSI is 56 (neutral) and daily RSI at 66.6 (still bullish). Volume surged 2.05x on the dump, but the 4H MACD histogram is positive (+0.0008). Price is above SMA25 4H ($0.0487) and above SMA25 daily ($0.0407).
🧠 Why This Trade? This looks like a sharp correction within an uptrend, not a reversal. The high volume sell-off with neutral RSI means sellers are active but not dominant. Long/short ratio at 1.23 shows longs still committed. The short play here is betting the pullback has further to go before buyers step in.
📋 Trade Plan (SHORT):
• Entry: $0.0499 – $0.0579
• Stop Loss: $0.0699 (above the recent swing high — if price reaches here, the short thesis is dead)
• TP1: $0.0484 | TP2: $0.0469 | TP3: $0.0449
⚠️ Counter-trend trade. The daily uptrend is your enemy here. Quick profits or quick stop.
❓ ZKC: dead cat bounce incoming or more downside? What is your read? 👇
#ZKC #Crypto #DYOR
⚠️ Not financial advice. Do your own research. Trading crypto involves significant risk.