Third time since last night $ZEC is sitting on 1180 and honestly each bounce is getting weaker.
First one ran to 1250. Then 1242. Then 1236. Lower highs every 4h, while the floor stays flat around 1183 to 1188. That shape usually doesn't hold forever.
Also worth saying the 1388 top from Nov 6 is fully gone now, price is back under both 4h EMAs and they just crossed down.
For me a 4h close under 1180 opens 1120, that's where the late October base was.
If buyers defend it again and get a close back over 1250 then the whole week is just a range and I'd stop being bearish on it.
First one ran to 1250. Then 1242. Then 1236. Lower highs every 4h, while the floor stays flat around 1183 to 1188. That shape usually doesn't hold forever.
Also worth saying the 1388 top from Nov 6 is fully gone now, price is back under both 4h EMAs and they just crossed down.
For me a 4h close under 1180 opens 1120, that's where the late October base was.
If buyers defend it again and get a close back over 1250 then the whole week is just a range and I'd stop being bearish on it.
