$ZEC H1 — STRONG BREAKOUT, WAITING FOR A RETEST FOR SUPPORT
ZEC has just broken above the 1,550 range and surged straight up to 1,653.67 with extremely high volume.
After that strong push, the price is currently correcting around 1,605. This is the moment to wait for reactions at support instead of chasing (FOMO) the price.
LONG PLAN 🟢 | $ZEC
Entry: 1,590–1,610
SL: 1,565
TP1: 1,640
TP2: 1,680
TP3: 1,720
Trigger: Price retests 1,590–1,610; it holds this zone and a H1 candle with a wick (rejection) appears or closes bullish again.
Personal view:
I lean LONG because the recent breakout came with very large volume and the H1 structure has shifted into a strongly bullish state.
However, the breakout candle’s range is quite wide, so it’s entirely possible that ZEC may shake out more before continuing. The 1,590–1,610 zone will be a key area to check whether buy pressure truly absorbs the sell pressure from profit-taking.
If the price reacts well at the Entry, the R:R will be much more favorable than buying immediately around 1,620–1,650. Conversely, if H1 closes below 1,565, then the LONG scenario is invalid.
Invalid: H1 closes below 1,565.
No FOMO. Wait for a confirmation retest.
ZEC has just broken above the 1,550 range and surged straight up to 1,653.67 with extremely high volume.
After that strong push, the price is currently correcting around 1,605. This is the moment to wait for reactions at support instead of chasing (FOMO) the price.
LONG PLAN 🟢 | $ZEC
Entry: 1,590–1,610
SL: 1,565
TP1: 1,640
TP2: 1,680
TP3: 1,720
Trigger: Price retests 1,590–1,610; it holds this zone and a H1 candle with a wick (rejection) appears or closes bullish again.
Personal view:
I lean LONG because the recent breakout came with very large volume and the H1 structure has shifted into a strongly bullish state.
However, the breakout candle’s range is quite wide, so it’s entirely possible that ZEC may shake out more before continuing. The 1,590–1,610 zone will be a key area to check whether buy pressure truly absorbs the sell pressure from profit-taking.
If the price reacts well at the Entry, the R:R will be much more favorable than buying immediately around 1,620–1,650. Conversely, if H1 closes below 1,565, then the LONG scenario is invalid.
Invalid: H1 closes below 1,565.
No FOMO. Wait for a confirmation retest.
