Anonymous coin mining may soon have a big wave from organizations—or is it just a news trap to dump holdings?
Fortitude – a deeply specialized mining unit $ZEC – has just pulled in the former CEO of Hut 8 to pave the way for an IPO. Unlike most people who only focus on mining $BTC , injecting capital to expand Zcash infrastructure to tap into traditional funding flows is a move that stands out.
This news can easily trigger FOMO psychology and push $ZEC toward a breakout above a long-term resistance zone. However, in the current context of $BTC trading sideways around $77,943.2 (at the time of writing), the risk of getting caught in a fakeout is very high.
My take: Don’t chase the news. Watch the volume response at key resistance levels; if buying strength is weak, it’s better to stay out and wait for a confirming candle rather than enter early.
Guys, do you think this move by $ZEC is a chicken-trap lure or a real wave’s start? Discuss with me below! 👇
#ZEC #Zcash #Altcoin #Crypto #Trading
Fortitude – a deeply specialized mining unit $ZEC – has just pulled in the former CEO of Hut 8 to pave the way for an IPO. Unlike most people who only focus on mining $BTC , injecting capital to expand Zcash infrastructure to tap into traditional funding flows is a move that stands out.
This news can easily trigger FOMO psychology and push $ZEC toward a breakout above a long-term resistance zone. However, in the current context of $BTC trading sideways around $77,943.2 (at the time of writing), the risk of getting caught in a fakeout is very high.
My take: Don’t chase the news. Watch the volume response at key resistance levels; if buying strength is weak, it’s better to stay out and wait for a confirming candle rather than enter early.
Guys, do you think this move by $ZEC is a chicken-trap lure or a real wave’s start? Discuss with me below! 👇
#ZEC #Zcash #Altcoin #Crypto #Trading
