$ZEC
ZEC ETF suddenly goes wrong
The big hammer once said ZEC would have a waterfall drop in just 10 days
Now it’s just piling on more bad news
In the first week alone, net outflows totaled $93.6 million
Where the hell did the bag-holders go?
This round of ZEC
suddenly feels a bit awkward
Not long ago, it was the coolest kid around
With countless ETFs rushing in and chasing it
And the first one hit was Grayscale’s ZCSH
It still saw inflows of $98.2 million in the first two weeks
Back then I even joked in a post
saying don’t—oh come on—profit-take and cash out so quickly
And I really did end up calling it
This time, Grayscale saw a full $93.6 million outflow
A direct reversal
So far, ZEC has already dropped to about $1,308
Within a week, it’s down 71.5%
It’s now about 23% down from the previous high
Why did everyone rush to buy ZEC a couple of weeks ago?
And now everyone is running away
Actually, the crypto market is very realistic
ETFs are like chasing-the-rally missiles
But they can also become atomic bombs when things start dropping
In fact, the big hammer said on September 23
that ZEC would drop hard
Not sure how many friends remember
At the moment, it looks like
ZEC’s daily chart is turning its head
The 4-hour chart has flipped bearish
The short-term downtrend has already been set
Why did we judge the waterfall would happen before?
Because the top formed a terminal flag pattern
while still being an ascending channel
And it couldn’t break through when it pushed higher
So it was very likely to drop
At the very least, it would likely range and consolidate
So the short-term downside is certain
The initial call is a drop to around 1,100
1,041 is the last defensive level for the bulls
If it breaks down,
it would damage the bull structure
and then we might need to see a bigger timeframe of consolidation or a pullback
Bearish in the short term
Bullish in the long term
Place orders with stop-losses
Do not hold positions stubbornly
#zcash现货etf首现周度净流出9360万美元
ZEC ETF suddenly goes wrong
The big hammer once said ZEC would have a waterfall drop in just 10 days
Now it’s just piling on more bad news
In the first week alone, net outflows totaled $93.6 million
Where the hell did the bag-holders go?
This round of ZEC
suddenly feels a bit awkward
Not long ago, it was the coolest kid around
With countless ETFs rushing in and chasing it
And the first one hit was Grayscale’s ZCSH
It still saw inflows of $98.2 million in the first two weeks
Back then I even joked in a post
saying don’t—oh come on—profit-take and cash out so quickly
And I really did end up calling it
This time, Grayscale saw a full $93.6 million outflow
A direct reversal
So far, ZEC has already dropped to about $1,308
Within a week, it’s down 71.5%
It’s now about 23% down from the previous high
Why did everyone rush to buy ZEC a couple of weeks ago?
And now everyone is running away
Actually, the crypto market is very realistic
ETFs are like chasing-the-rally missiles
But they can also become atomic bombs when things start dropping
In fact, the big hammer said on September 23
that ZEC would drop hard
Not sure how many friends remember
At the moment, it looks like
ZEC’s daily chart is turning its head
The 4-hour chart has flipped bearish
The short-term downtrend has already been set
Why did we judge the waterfall would happen before?
Because the top formed a terminal flag pattern
while still being an ascending channel
And it couldn’t break through when it pushed higher
So it was very likely to drop
At the very least, it would likely range and consolidate
So the short-term downside is certain
The initial call is a drop to around 1,100
1,041 is the last defensive level for the bulls
If it breaks down,
it would damage the bull structure
and then we might need to see a bigger timeframe of consolidation or a pullback
Bearish in the short term
Bullish in the long term
Place orders with stop-losses
Do not hold positions stubbornly
#zcash现货etf首现周度净流出9360万美元
