I’m not touching this stretch $ZEC .
A wick down.
Yesterday it crashed from 1337.3 to 1187.2—an eleven-point drop.
After the sweep, no bounce.
After recovering, it only moved sideways, with four hourly candles squeezed into a 0.63% range.
Whales are 59% long, and the long/short ratio only slipped from 1.4568 to 1.4383.
Down eleven points, and long positions fell by just over one point. That’s not capitulation; it’s not a bottom.
The signals I’m waiting for are pretty basic: reclaim 1235.75, or dip to 1187.2 again without breaking below it.
Right now, neither has happened.
Price is 1220.82. I’m just watching.
There’s only 1.22% upside to the 20-day moving average, versus 2.75% downside to the floor—a risk/reward ratio of 0.44.
I’m not taking that bet.
(Not investment advice. You’re responsible for your own gains and losses.)
A wick down.
Yesterday it crashed from 1337.3 to 1187.2—an eleven-point drop.
After the sweep, no bounce.
After recovering, it only moved sideways, with four hourly candles squeezed into a 0.63% range.
Whales are 59% long, and the long/short ratio only slipped from 1.4568 to 1.4383.
Down eleven points, and long positions fell by just over one point. That’s not capitulation; it’s not a bottom.
The signals I’m waiting for are pretty basic: reclaim 1235.75, or dip to 1187.2 again without breaking below it.
Right now, neither has happened.
Price is 1220.82. I’m just watching.
There’s only 1.22% upside to the 20-day moving average, versus 2.75% downside to the floor—a risk/reward ratio of 0.44.
I’m not taking that bet.
(Not investment advice. You’re responsible for your own gains and losses.)