ZEC has fallen below 1,000 for the first time since September. It’s down nearly 30% from 1,370 last Friday, and is now at 970 USDT.
First, I’ll admit I was wrong. In my post on the 7th, I said I was leaning bullish and got in at 1,311. I said not to touch it if it broke below 1,278, and that it would rise after the upgrade went live. This time, “buy the rumor, sell the fact” played out in reverse. But it broke below 1,278 at 10 p.m. that very night, so that trade lost money, and I was wrong about “reverse” too.
This isn’t just about ZEC. Hot CPI sent the entire privacy-coin sector down 7% in a day. ZEC makes up 60% of the sector, so it took the hardest hit. The day before, Grayscale had just announced $1 million in ecosystem support, but that did nothing to prop it up.
I’ve changed my view from leaning bullish to leaning bearish. I won’t be bullish until it gets back above 1,000. If it loses today’s low of 962, the next level I’m watching is 900.
If it gets back above 1,000, I’ll let you guys know right away. #Zcash自9月以来首次跌破1000美元 $ZEC
First, I’ll admit I was wrong. In my post on the 7th, I said I was leaning bullish and got in at 1,311. I said not to touch it if it broke below 1,278, and that it would rise after the upgrade went live. This time, “buy the rumor, sell the fact” played out in reverse. But it broke below 1,278 at 10 p.m. that very night, so that trade lost money, and I was wrong about “reverse” too.
This isn’t just about ZEC. Hot CPI sent the entire privacy-coin sector down 7% in a day. ZEC makes up 60% of the sector, so it took the hardest hit. The day before, Grayscale had just announced $1 million in ecosystem support, but that did nothing to prop it up.
I’ve changed my view from leaning bullish to leaning bearish. I won’t be bullish until it gets back above 1,000. If it loses today’s low of 962, the next level I’m watching is 900.
If it gets back above 1,000, I’ll let you guys know right away. #Zcash自9月以来首次跌破1000美元 $ZEC
