$ZEC This new high is still being constantly broken—who still dares to short?
Just yesterday, I reminded everyone not to short ZEC. Before that, there was Grayscale’s accumulation; after that, there are whales continuously adding to longs. What can retail traders use to go up against the big players in the order book?
These liquidation numbers are enough to say it all—the primary liquidations are short positions! The purpose of ZEC consolidating at high levels right now is to lure short-sellers’ chips. Since the funding rate is still negative, shorting has no value at all. You not only have to pay funding fees, but you also incur unrealized losses. Every pullback is an opportunity for the long side to enter.
Once the shorts’ chips have been collected, the main force will naturally push the price up. Soon you’ll see ZEC at 1500. Longs, get ready to pop the champagne—it's over!
Just yesterday, I reminded everyone not to short ZEC. Before that, there was Grayscale’s accumulation; after that, there are whales continuously adding to longs. What can retail traders use to go up against the big players in the order book?
These liquidation numbers are enough to say it all—the primary liquidations are short positions! The purpose of ZEC consolidating at high levels right now is to lure short-sellers’ chips. Since the funding rate is still negative, shorting has no value at all. You not only have to pay funding fees, but you also incur unrealized losses. Every pullback is an opportunity for the long side to enter.
Once the shorts’ chips have been collected, the main force will naturally push the price up. Soon you’ll see ZEC at 1500. Longs, get ready to pop the champagne—it's over!
