From a structural perspective, the contract data for $ZEC has diverged from the price (open interest is rising, while the price is falling): 24-hour open interest +13.79%, price -10.54%, current price 1187.61.
Next, watch two things:
First, whether open interest continues to increase—if it keeps rising, it may mean the shorts are still pressing their attack; second, whether a pullback can reclaim the losses with volume—if it can reclaim, be alert for shorts to concentrate and cover.
#ZEC
Views are for discussion only; profits and losses are your own responsibility.
Next, watch two things:
First, whether open interest continues to increase—if it keeps rising, it may mean the shorts are still pressing their attack; second, whether a pullback can reclaim the losses with volume—if it can reclaim, be alert for shorts to concentrate and cover.
#ZEC
Views are for discussion only; profits and losses are your own responsibility.