Yesterday, people were waiting for it to dip a little further. Today, what they got was a higher price. $ZEC jumped 2.28% in an hour, to 1,224.8.
This kind of move is the most nerve-racking: it’s down for most of the day, then suddenly a bullish candle shoots up in the evening. Those who haven’t bought in are torn over whether to chase it; those who are holding are torn over whether to sell. Neither side gets a good night’s sleep.
If I had to choose, I’d lean more toward sitting on the sidelines: that one-hour bullish candle looks encouraging, but it’s only a step away from the 24-hour low of 1,180. If it dips again, today’s 2.28% gain could disappear quickly. But if it can hold above 1,180, I’ll change my mind immediately.
With a sharp one-hour surge like this in ZEC, do you think it’s just getting started, or is it already being distributed?
$ZEC
#ZEC #MarketAnalysis
This kind of move is the most nerve-racking: it’s down for most of the day, then suddenly a bullish candle shoots up in the evening. Those who haven’t bought in are torn over whether to chase it; those who are holding are torn over whether to sell. Neither side gets a good night’s sleep.
If I had to choose, I’d lean more toward sitting on the sidelines: that one-hour bullish candle looks encouraging, but it’s only a step away from the 24-hour low of 1,180. If it dips again, today’s 2.28% gain could disappear quickly. But if it can hold above 1,180, I’ll change my mind immediately.
With a sharp one-hour surge like this in ZEC, do you think it’s just getting started, or is it already being distributed?
$ZEC
#ZEC #MarketAnalysis