$ZEC Strongly bearish
On the 4-hour chart, the price has consistently formed lower highs (falling from 1698 to 1494, 1385, 1349, and most recently 1249), along with lower lows (falling from 1456 to 1271, 1112, and 1075), confirming a clear downtrend.
On the 1-hour chart, the price was just firmly rejected at the 1254 resistance level and plunged to its current level of 1186, indicating that short-term selling pressure is firmly in control and the overall trend remains bearish.
· Open interest (OI): It remains stable or increases slightly as the price falls, suggesting that new short positions are being opened to drive the downtrend, rather than the move being caused solely by long liquidations. High OI combined with declining CVD confirms that bears are in control of the market.
$ZEC Short Setup (Primary)
· Short entry: 1200–1230
(Wait for a retest of the 1-hour EMA9 and EMA21 confluence zone)
· Stop loss: Above 1270
· Take profit 1: 1120
· Take profit 2: 1075 (recent low)
Support me by trading here 👇#zec #zcash
On the 4-hour chart, the price has consistently formed lower highs (falling from 1698 to 1494, 1385, 1349, and most recently 1249), along with lower lows (falling from 1456 to 1271, 1112, and 1075), confirming a clear downtrend.
On the 1-hour chart, the price was just firmly rejected at the 1254 resistance level and plunged to its current level of 1186, indicating that short-term selling pressure is firmly in control and the overall trend remains bearish.
· Open interest (OI): It remains stable or increases slightly as the price falls, suggesting that new short positions are being opened to drive the downtrend, rather than the move being caused solely by long liquidations. High OI combined with declining CVD confirms that bears are in control of the market.
$ZEC Short Setup (Primary)
· Short entry: 1200–1230
(Wait for a retest of the 1-hour EMA9 and EMA21 confluence zone)
· Stop loss: Above 1270
· Take profit 1: 1120
· Take profit 2: 1075 (recent low)
Support me by trading here 👇#zec #zcash