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悠哉独自在
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$ZEC This move is basically burying the chasing buyers for good. Yesterday they were still pushing at 1595; today it’s been directly dumped back to 1450. In 24 hours it dropped more than 5 points, and the trading volume was 2.366 billion USD.
When many people see the 1-hour RSI dropping to 23—extremely oversold—they want to bottom-fish. I suggest you calm down first.
From the contract data, the open interest has been falling from a high of 1733M all the way down to about 997M—a clear reduction. This drop is purely profit-taking from the earlier rally being cashed out in a concentrated way. Leveraged longs were liquidated, which pushed the price down further. Now the funding rate is only 0.01%, nothing unusual. The basis is also basically stuck near zero—there’s no strong bullish sentiment and no extreme squeeze expectation. It’s simply realistic sell pressure driving the market.
Looking at the K-line, the 4-hour chart has already broken below the prior support. Above, the range from 1500 to 1550 is packed with trapped chips. Any short-term attempt to rebound upward will face heavy resistance. On the daily chart, the RSI is still in the 60s, but it’s already turning downward. Overall, the trend is clearly weakening.
Honestly, I’ve lost too many times in exactly this kind of market where price gets smashed straight down from a high. Every time I think, “It dropped so much—it should rebound, right?” then I rush in and get buried. So I’d rather watch it bounce and do nothing. With U in hand, I feel no panic. Wait until it has finished dropping what it needs to drop, and those who need to cut have cut—once the order book gets quiet and nobody’s chatting anymore, that’s when it’s time to move. If you jump in now, you’re just taking the bag for the people who ran earlier.
Where do you think ZEC will drop to this time?
$ZEC #ZEC
When many people see the 1-hour RSI dropping to 23—extremely oversold—they want to bottom-fish. I suggest you calm down first.
From the contract data, the open interest has been falling from a high of 1733M all the way down to about 997M—a clear reduction. This drop is purely profit-taking from the earlier rally being cashed out in a concentrated way. Leveraged longs were liquidated, which pushed the price down further. Now the funding rate is only 0.01%, nothing unusual. The basis is also basically stuck near zero—there’s no strong bullish sentiment and no extreme squeeze expectation. It’s simply realistic sell pressure driving the market.
Looking at the K-line, the 4-hour chart has already broken below the prior support. Above, the range from 1500 to 1550 is packed with trapped chips. Any short-term attempt to rebound upward will face heavy resistance. On the daily chart, the RSI is still in the 60s, but it’s already turning downward. Overall, the trend is clearly weakening.
Honestly, I’ve lost too many times in exactly this kind of market where price gets smashed straight down from a high. Every time I think, “It dropped so much—it should rebound, right?” then I rush in and get buried. So I’d rather watch it bounce and do nothing. With U in hand, I feel no panic. Wait until it has finished dropping what it needs to drop, and those who need to cut have cut—once the order book gets quiet and nobody’s chatting anymore, that’s when it’s time to move. If you jump in now, you’re just taking the bag for the people who ran earlier.
Where do you think ZEC will drop to this time?
$ZEC #ZEC
Disclaimer: Includes third-party opinions. No advice. Binance AI may be used without guarantee. See T&Cs.