#zec The bearish trend remains intact; any rebound is an excellent opportunity to sell short!
ZEC's price action today fully matched expectations. After dipping to a new low for the current phase at 951 early in the session, it staged an oversold rebound. However, trading volume remained weak throughout, and the price failed to break decisively above the medium-term moving averages. Essentially, this was merely a technical recovery during a downtrend, nowhere near a trend reversal.
Don't rush to buy the dip just because you see a bullish candle. A rebound is not a signal that the bottom is in, but an opportunity to position for a second move down. Trade with the trend, manage your risk, and hold patiently.
ZEC's price action today fully matched expectations. After dipping to a new low for the current phase at 951 early in the session, it staged an oversold rebound. However, trading volume remained weak throughout, and the price failed to break decisively above the medium-term moving averages. Essentially, this was merely a technical recovery during a downtrend, nowhere near a trend reversal.
Don't rush to buy the dip just because you see a bullish candle. A rebound is not a signal that the bottom is in, but an opportunity to position for a second move down. Trade with the trend, manage your risk, and hold patiently.
