ZEC live analysis (price ~1163)
This is based on Binance’s 4h candles and Twelve Data’s live price (1162.99). The last candle is from today at 9:30 AM IST (04:00 UTC), and it is not complete yet. The chart is in the zec_4h_short_setup_chart.png file.
Chart overview:
On 16 Oct, the 1210–1254 range broke down on high volume (38K), and ZEC fell to 1133.
It is now bouncing from 1133: from 1133 to 1174, with higher lows (1133, 1135, 1141, 1151).
The bounce is on low volume (8.5K to 12.7K, compared with 38K during the drop). A bounce on weak volume often stalls near the breakdown area.
Resistance: 1174, then 1181 to 1190 (the breakdown candle zone), then 1214 to 1218.
Support: 1133, then 1100, then 1075.
The 4h trend is still downward.
Signal: short on a retest of the breakdown zone
Price
Entry
1185 (price is currently 1163; wait for a ~1.9% bounce)
SL
1218 (2.8% risk)
TP1
1133 (R:R 1.6)
TP2
1100 (R:R 2.6)
Enter when: price reaches the 1181 to 1190 zone and shows rejection (an upper wick, followed by a 1h or 4h candle closing lower).
Why not short immediately: at 1163, with the SL at 1195, the risk is ~32 while the reward to TP1 is only ~30 (R:R 0.9), which is poor. So it’s better to wait for the bounce.
Skip if:
Price doesn’t reach 1185 and falls back toward 1133 (don’t chase it).
A 4h candle closes above 1218 (the idea is invalid; the bounce could become a genuine reversal).
Price breaks sharply below 1133 (that would be a separate breakdown setup, distinct from this entry).
About going long: Don’t go long yet, unless a 4h candle closes above 1190. Even then, there is resistance near 1214.
Risk: ZEC can move ~4% in a single 4h candle, so wicks can hit the SL quickly. Keep leverage between 3x and 5x and the position size small.
This is based on Binance’s 4h candles and Twelve Data’s live price (1162.99). The last candle is from today at 9:30 AM IST (04:00 UTC), and it is not complete yet. The chart is in the zec_4h_short_setup_chart.png file.
Chart overview:
On 16 Oct, the 1210–1254 range broke down on high volume (38K), and ZEC fell to 1133.
It is now bouncing from 1133: from 1133 to 1174, with higher lows (1133, 1135, 1141, 1151).
The bounce is on low volume (8.5K to 12.7K, compared with 38K during the drop). A bounce on weak volume often stalls near the breakdown area.
Resistance: 1174, then 1181 to 1190 (the breakdown candle zone), then 1214 to 1218.
Support: 1133, then 1100, then 1075.
The 4h trend is still downward.
Signal: short on a retest of the breakdown zone
Price
Entry
1185 (price is currently 1163; wait for a ~1.9% bounce)
SL
1218 (2.8% risk)
TP1
1133 (R:R 1.6)
TP2
1100 (R:R 2.6)
Enter when: price reaches the 1181 to 1190 zone and shows rejection (an upper wick, followed by a 1h or 4h candle closing lower).
Why not short immediately: at 1163, with the SL at 1195, the risk is ~32 while the reward to TP1 is only ~30 (R:R 0.9), which is poor. So it’s better to wait for the bounce.
Skip if:
Price doesn’t reach 1185 and falls back toward 1133 (don’t chase it).
A 4h candle closes above 1218 (the idea is invalid; the bounce could become a genuine reversal).
Price breaks sharply below 1133 (that would be a separate breakdown setup, distinct from this entry).
About going long: Don’t go long yet, unless a 4h candle closes above 1190. Even then, there is resistance near 1214.
Risk: ZEC can move ~4% in a single 4h candle, so wicks can hit the SL quickly. Keep leverage between 3x and 5x and the position size small.