$ZEC is up almost 5% on the day at ~1,325, and the positioning here is the opposite of most of the market right now. Binance global accounts are net short (long/short 0.85, only 46% long), while top traders are long at 1.41. Retail fading the move, bigger accounts riding it.
The push came in one 4h candle from 1,291 to 1,350, wicked to 1,388, and since then it's held 1,322-1,328. OI jumped from ~$543M to ~$596M into the move and has eased to ~$572M, so some of the chase has already left.
On the NanoTrading Fire chart the heatmap shows a big ~$101.7M band at 1,317 right under price and ~$93.1M overhead at 1,354. The liquidation radar's nearest short cluster is ~$7.2M at 1,338, and the biggest long pile is down at 1,253 (~$8.5M).
My read: as long as 1,317 holds, the crowd being short gives $ZEC room to squeeze through 1,338 toward 1,354. A clean 4h close under 1,317 changes that, and 1,253 becomes the magnet 🔥
Are you with the retail shorts or the top traders on this one?
Source: NanoTrading Fire chart + Liquidation Radar (nanotradingclub.xyz)
NFA, just my read.
#ZEC #Zcash #NanoTrading #crypto
The push came in one 4h candle from 1,291 to 1,350, wicked to 1,388, and since then it's held 1,322-1,328. OI jumped from ~$543M to ~$596M into the move and has eased to ~$572M, so some of the chase has already left.
On the NanoTrading Fire chart the heatmap shows a big ~$101.7M band at 1,317 right under price and ~$93.1M overhead at 1,354. The liquidation radar's nearest short cluster is ~$7.2M at 1,338, and the biggest long pile is down at 1,253 (~$8.5M).
My read: as long as 1,317 holds, the crowd being short gives $ZEC room to squeeze through 1,338 toward 1,354. A clean 4h close under 1,317 changes that, and 1,253 becomes the magnet 🔥
Are you with the retail shorts or the top traders on this one?
Source: NanoTrading Fire chart + Liquidation Radar (nanotradingclub.xyz)
NFA, just my read.
#ZEC #Zcash #NanoTrading #crypto
