#zec
As someone who trades ZEC, let me add a couple of thoughts. I closed my ZEC short too early and missed out on further gains. But looking at ZEC’s weekly chart, the top on the higher time frame is already clear. If BTC loses the 70,000 level, ZEC will only fall faster. That said, ZEC is notorious for its wild swings in the futures market, and its short-term moves are mainly driven by the long/short data in its own futures market. There’s too much money chasing shorts in the short term, so a sudden rebound is perfectly normal. That’s also why I don’t dare hold ZEC for long. A small punt can be fun, but gamble too often and you’re bound to lose.
As someone who trades ZEC, let me add a couple of thoughts. I closed my ZEC short too early and missed out on further gains. But looking at ZEC’s weekly chart, the top on the higher time frame is already clear. If BTC loses the 70,000 level, ZEC will only fall faster. That said, ZEC is notorious for its wild swings in the futures market, and its short-term moves are mainly driven by the long/short data in its own futures market. There’s too much money chasing shorts in the short term, so a sudden rebound is perfectly normal. That’s also why I don’t dare hold ZEC for long. A small punt can be fun, but gamble too often and you’re bound to lose.