Afternoon note: $ZEC — the fourth test of 1280. Let’s see whether the hourly candle can close above it.
The 3 o’clock candle closed at 1281.72, and the 4 o’clock candle closed at 1289. Both closed above it.
The 4 o’clock candle reached a high of 1295.6; it’s now at 1283.
Of the first three tests, the one on 11/02 closed at 1280.30 around noon, but the next candle dropped back below.
This time it seems to be holding above for longer.
But volume keeps shrinking: 11M, 9M, 6M, and 5M on this candle.
There isn’t much volume pushing it up.
Above, there’s the 10/31 high of 1297.77; further up is 1311, where it closed on 10/28.
If it falls back below 1280, that would be another false breakout.
Just my personal opinion; this is not investment advice.
The 3 o’clock candle closed at 1281.72, and the 4 o’clock candle closed at 1289. Both closed above it.
The 4 o’clock candle reached a high of 1295.6; it’s now at 1283.
Of the first three tests, the one on 11/02 closed at 1280.30 around noon, but the next candle dropped back below.
This time it seems to be holding above for longer.
But volume keeps shrinking: 11M, 9M, 6M, and 5M on this candle.
There isn’t much volume pushing it up.
Above, there’s the 10/31 high of 1297.77; further up is 1311, where it closed on 10/28.
If it falls back below 1280, that would be another false breakout.
Just my personal opinion; this is not investment advice.