🐳 $ZEC 4-hour golden cross. A couple of thoughts from a position-holder’s perspective:
Bearish momentum bars have continued for 7 consecutive 4-hour candles, meaning bears had been in control until now, but selling pressure has finally run out of steam. However, the crossover is below the zero line, and there are still plenty of trapped holders above. A rebound into the previous high-volume area could easily run into selling pressure from people looking to break even.
What was your first reaction?
#ZEC
Bearish momentum bars have continued for 7 consecutive 4-hour candles, meaning bears had been in control until now, but selling pressure has finally run out of steam. However, the crossover is below the zero line, and there are still plenty of trapped holders above. A rebound into the previous high-volume area could easily run into selling pressure from people looking to break even.
What was your first reaction?
#ZEC