Take one look at this chart for $ZEC —it’s clearly a shakeout, and the shorts are about to get buried alive.
First, let’s look at the price and volume:
On the daily chart, volume surged during the previous rally. Now that price has pulled back, trading volume has clearly dried up. This is called a “low-volume pullback,” which shows that the big players haven’t left and selling pressure is light. Now look at the 4-hour chart: that recent sell-off also happened on low volume. The market makers are obviously just shaking out profit-takers.
Now for the most brutal stats:
The long/short ratio is only 33%! 1,059 shorts are ganging up on 432 longs. The shorts’ average entry is 1,261, and they’re sitting on losses of over 8.3 million U! The longs’ average entry is just 1,227—they’re making a killing. The shorts are not only getting beaten up, they’re also paying funding fees. If price takes off, those 1,000-plus shorts will be premium fuel.
My take: at around the current price of 1,313, go long now!
The daily chart is holding above EMA21 (1,255), and the trend is still intact. A low-volume pullback is an opportunity to get in. Set your stop just below 1,250. First target: the previous high at 1,390. If it breaks through, the shorts could get liquidated in a cascade—then we’re looking at 1,500! $ZEC
First, let’s look at the price and volume:
On the daily chart, volume surged during the previous rally. Now that price has pulled back, trading volume has clearly dried up. This is called a “low-volume pullback,” which shows that the big players haven’t left and selling pressure is light. Now look at the 4-hour chart: that recent sell-off also happened on low volume. The market makers are obviously just shaking out profit-takers.
Now for the most brutal stats:
The long/short ratio is only 33%! 1,059 shorts are ganging up on 432 longs. The shorts’ average entry is 1,261, and they’re sitting on losses of over 8.3 million U! The longs’ average entry is just 1,227—they’re making a killing. The shorts are not only getting beaten up, they’re also paying funding fees. If price takes off, those 1,000-plus shorts will be premium fuel.
My take: at around the current price of 1,313, go long now!
The daily chart is holding above EMA21 (1,255), and the trend is still intact. A low-volume pullback is an opportunity to get in. Set your stop just below 1,250. First target: the previous high at 1,390. If it breaks through, the shorts could get liquidated in a cascade—then we’re looking at 1,500! $ZEC
