ZEC is at 1085 now. I’m not touching it.
This price is stuck halfway up the mountain, with a pile of trapped buyers overhead. The big players shake the market hard, so if you chase in, it’s easy to get shaken out by wicks in either direction.
I’ve placed a long order at 866, with a take-profit at 966 and a hard stop-loss at 800. That’s a potential gain of 100 points versus a loss of 66, so the risk-reward ratio is worth it. And 866 is still a strong support level with a dense concentration of holdings.
Pressure from macro rate hikes is still there, and liquidity is tight across the broader market. Privacy coins are unlikely to rally on their own. I’ll wait for a second bottom test to create a golden buying opportunity before entering.
If it gets there, I’ll enter. If not, I’ll wait. If it takes off, I’ll cancel the order—no chasing.
$ZEC #ZEC
This price is stuck halfway up the mountain, with a pile of trapped buyers overhead. The big players shake the market hard, so if you chase in, it’s easy to get shaken out by wicks in either direction.
I’ve placed a long order at 866, with a take-profit at 966 and a hard stop-loss at 800. That’s a potential gain of 100 points versus a loss of 66, so the risk-reward ratio is worth it. And 866 is still a strong support level with a dense concentration of holdings.
Pressure from macro rate hikes is still there, and liquidity is tight across the broader market. Privacy coins are unlikely to rally on their own. I’ll wait for a second bottom test to create a golden buying opportunity before entering.
If it gets there, I’ll enter. If not, I’ll wait. If it takes off, I’ll cancel the order—no chasing.
$ZEC #ZEC