Recovery rally? Is short-seller killer $ZEC back?
The market has been fairly bullish on ZEC lately. This recovery rally has indeed wiped out quite a few shorts. The main cluster of short liquidations overhead is now around 1,250, and there aren’t many shorts left to liquidate in the short term.
Keep in mind ZEC’s characteristics: the market makers behind this coin are extremely profit-driven. After such a big pullback, it’s unrealistic to expect them to push the price back up to bail out the longs. More likely, they’ll pump it to around 1,250 and then dump it, since the long positions below are very tempting targets.
You could open a short around 1,230 and take profit near 1,180. If it breaks above 1,260, set a stop-loss at #比特币重复使用地址持有433万枚BTC
The market has been fairly bullish on ZEC lately. This recovery rally has indeed wiped out quite a few shorts. The main cluster of short liquidations overhead is now around 1,250, and there aren’t many shorts left to liquidate in the short term.
Keep in mind ZEC’s characteristics: the market makers behind this coin are extremely profit-driven. After such a big pullback, it’s unrealistic to expect them to push the price back up to bail out the longs. More likely, they’ll pump it to around 1,250 and then dump it, since the long positions below are very tempting targets.
You could open a short around 1,230 and take profit near 1,180. If it breaks above 1,260, set a stop-loss at #比特币重复使用地址持有433万枚BTC