【Zuozuo’s Market Take】🔻ZEC tests 1,126 twice—is the rebound a shorting opportunity?
Between 01:00 and 02:00 this morning, ZEC plunged from 1,232 to 1,163 in two hours, with 57.7 million U in trading volume—the highest in 24 hours. It then tested the lows at 1,127 and 1,126. Rebound highs have been getting lower: 1,191 → 1,167 → 1,162. Current price: 1,144, down 8.8% over 24 hours. BTC has fallen back below 77,000 (Binance spot).
Direction: Short
Entry: 1,152–1,158 (wait for a rebound; don’t chase the short)
Stop-loss: 1,170
TP1: 1,138
TP2: 1,128 (above the two tests of 1,126)
Rationale: After breaking down on heavy volume, each rebound has been weaker than the last. The 1,160 level has acted as resistance for five hours, and BTC hasn’t managed to hold its ground either.
Invalidation: 1H candle closes above 1,168.
This is just my personal opinion. Please manage your position size and risk accordingly.
Do you think 1,126 will hold this time?
#ZEC #左左观点单 #加密货币 #币安广场
$ZEC
Between 01:00 and 02:00 this morning, ZEC plunged from 1,232 to 1,163 in two hours, with 57.7 million U in trading volume—the highest in 24 hours. It then tested the lows at 1,127 and 1,126. Rebound highs have been getting lower: 1,191 → 1,167 → 1,162. Current price: 1,144, down 8.8% over 24 hours. BTC has fallen back below 77,000 (Binance spot).
Direction: Short
Entry: 1,152–1,158 (wait for a rebound; don’t chase the short)
Stop-loss: 1,170
TP1: 1,138
TP2: 1,128 (above the two tests of 1,126)
Rationale: After breaking down on heavy volume, each rebound has been weaker than the last. The 1,160 level has acted as resistance for five hours, and BTC hasn’t managed to hold its ground either.
Invalidation: 1H candle closes above 1,168.
This is just my personal opinion. Please manage your position size and risk accordingly.
Do you think 1,126 will hold this time?
#ZEC #左左观点单 #加密货币 #币安广场
$ZEC
