Hey everyone, do you think this plunge at $ZEC means it’s time to buy the dip?
Don’t be fooled by that long lower wick on the daily chart! Look at the 15-minute chart: that sharp drop just broke straight through the lower Bollinger Band, and the moving averages have all crossed bearishly and are heading down. That shows the big players are selling decisively. The daily chart may look like a pullback to support, but short-term momentum is too weak—the rebound can’t even get past the 1290 resistance level.
Don’t rush in! This kind of guillotine-style sell-off leaves plenty of trapped buyers overhead.
Wait for it to stabilize around 1240 on declining volume before considering anything. Buying now is just handing your money to the big players. Don’t gamble your hard-earned cash on a bottom!
Don’t be fooled by that long lower wick on the daily chart! Look at the 15-minute chart: that sharp drop just broke straight through the lower Bollinger Band, and the moving averages have all crossed bearishly and are heading down. That shows the big players are selling decisively. The daily chart may look like a pullback to support, but short-term momentum is too weak—the rebound can’t even get past the 1290 resistance level.
Don’t rush in! This kind of guillotine-style sell-off leaves plenty of trapped buyers overhead.
Wait for it to stabilize around 1240 on declining volume before considering anything. Buying now is just handing your money to the big players. Don’t gamble your hard-earned cash on a bottom!
