Shorting ZEC, Day 46: Is the sell-off after the positive news was priced in just beginning?
ZEC is currently at 1,315. After the positive news was priced in, it quickly sold off, falling below the middle Bollinger Band at 1,325 and nearing the lower band at 1,296. RSI6 has slipped to 35.6, MACD has formed a death cross, bearish momentum is still being released, and KDJ is trending down toward a low level. Resistance is at 1,355, with key support at 1,298.
After the news catalyst, funds flowed out. The pullback is relatively strong, so don't rush to buy the dip; wait for the price to stop falling and stabilize before acting.
BTC is also under pressure and pulling back, with support at 83,600 in focus. ETH is weak and moving in tandem, lacking independent rebound momentum.
Overall market conditions are weakening. It's best to stay on the sidelines and manage position sizes carefully. Technical review only; this is not investment advice.#ZEC #BTC #ETH
ZEC is currently at 1,315. After the positive news was priced in, it quickly sold off, falling below the middle Bollinger Band at 1,325 and nearing the lower band at 1,296. RSI6 has slipped to 35.6, MACD has formed a death cross, bearish momentum is still being released, and KDJ is trending down toward a low level. Resistance is at 1,355, with key support at 1,298.
After the news catalyst, funds flowed out. The pullback is relatively strong, so don't rush to buy the dip; wait for the price to stop falling and stabilize before acting.
BTC is also under pressure and pulling back, with support at 83,600 in focus. ETH is weak and moving in tandem, lacking independent rebound momentum.
Overall market conditions are weakening. It's best to stay on the sidelines and manage position sizes carefully. Technical review only; this is not investment advice.#ZEC #BTC #ETH