In this game with $ZEC , bears are packed into the subway while bulls collect rent
The ZEC chart looks like a showdown between bulls and bears. There’s barely room for the bears, like on a crowded rush-hour train, while the bulls calmly count their money at the top.
The whale is at it again, continuing to build up short positions in ZEC: around 15,000 coins worth nearly $19.84 million, opened at $1,340.9, with current profits of about $50,000. A small profit, but the position was taken early.
The top five positions: four shorts and one long, with all the shorts in profit. But looking at the overall picture, the bulls have made about $70 million, while the bears have lost around $6 million. The bears are fighting over bonuses; the bulls are collecting rent.
The whale is adding to short positions, and more and more bears are gathering overhead. Is ZEC trying to make a comeback?
First, let’s see whether the price can hold above $1,700. There won’t be a market until the bears get squeezed; once they do, that’s when the market will take off.
The macro picture isn’t encouraging either: the Fed meeting minutes are due out this week, the Strait of Hormuz is still closed, and OPEC+ is keeping November oil production unchanged. There are a lot of variables, so don’t rush to conclusions.
The ZEC chart looks like a showdown between bulls and bears. There’s barely room for the bears, like on a crowded rush-hour train, while the bulls calmly count their money at the top.
The whale is at it again, continuing to build up short positions in ZEC: around 15,000 coins worth nearly $19.84 million, opened at $1,340.9, with current profits of about $50,000. A small profit, but the position was taken early.
The top five positions: four shorts and one long, with all the shorts in profit. But looking at the overall picture, the bulls have made about $70 million, while the bears have lost around $6 million. The bears are fighting over bonuses; the bulls are collecting rent.
The whale is adding to short positions, and more and more bears are gathering overhead. Is ZEC trying to make a comeback?
First, let’s see whether the price can hold above $1,700. There won’t be a market until the bears get squeezed; once they do, that’s when the market will take off.
The macro picture isn’t encouraging either: the Fed meeting minutes are due out this week, the Strait of Hormuz is still closed, and OPEC+ is keeping November oil production unchanged. There are a lot of variables, so don’t rush to conclusions.
