$NEAR
$ZEC
Update
2 candles were rejected due to taking profit and formed an H4 bottom, so NEAR has turned back to re-check the broken area.
NEAR managed to hold 4.82 and wants to bend H4 to move forward in the next wave at (4.97-5.0). This zone will be strong resistance, so monitor it.
ZEC also formed an H4 bottom and wants to move toward 1363-1400 as well—this is also strong resistance for ZEC.
But it seems ZEC is rather weak.
- These 2 candles at resistance were rejected and formed a red-bodied W with a long lower wick today, so take profit carefully if someone entered/longed on the H4 break that just happened. But don’t rush to short immediately because NEAR and ZEC may still go up and turn green early next week.
Swing-long direction until Monday for NEAR.
As for ZEC, if it breaks above 1305 it is still weak; there’s a stop-loss risk in that area because it was rejected again and is likely to turn down to test the bottom from earlier.
ZEC has dumped quite a long “mountain pass”; its selling power is weaker than NEAR during this rebound.
These 2 coins are diagnosed as having a recovering underlying issue—red wick pullback for the week to catch shorters tightly 😎
$ZEC
Update
2 candles were rejected due to taking profit and formed an H4 bottom, so NEAR has turned back to re-check the broken area.
NEAR managed to hold 4.82 and wants to bend H4 to move forward in the next wave at (4.97-5.0). This zone will be strong resistance, so monitor it.
ZEC also formed an H4 bottom and wants to move toward 1363-1400 as well—this is also strong resistance for ZEC.
But it seems ZEC is rather weak.
- These 2 candles at resistance were rejected and formed a red-bodied W with a long lower wick today, so take profit carefully if someone entered/longed on the H4 break that just happened. But don’t rush to short immediately because NEAR and ZEC may still go up and turn green early next week.
Swing-long direction until Monday for NEAR.
As for ZEC, if it breaks above 1305 it is still weak; there’s a stop-loss risk in that area because it was rejected again and is likely to turn down to test the bottom from earlier.
ZEC has dumped quite a long “mountain pass”; its selling power is weaker than NEAR during this rebound.
These 2 coins are diagnosed as having a recovering underlying issue—red wick pullback for the week to catch shorters tightly 😎
