Last night I asked whether we'd reclaim 1,000 first or test 900 first. Today we got our answer: the high only reached 999, missing 1 buck and failing to get back above it, then it turned around and plunged to 923. Watching this price action has my blood pressure through the roof. Put simply, nobody really wants to defend the 1,000 level.
The chart makes it even clearer: a double top around 1,388, with bearish divergence showing up twice. Price made a new high, but MACD just couldn't keep up. The death cross at 1,233 came down hard, EMA 12 and 50 both flipped into a bearish alignment, and price slid all the way to 934—a 20.5% drop across the range. The two support levels at 1,122 and 1,214 have both been broken. Now all that's left below is the round-number level at 900; if that breaks, we're looking at 800.
$ZEC is already down 45% from its late-September high of 1,697, and down 24% in 7 days. That moment when Jensen Huang resigned dragged the whole market down with it. Bitcoin broke below 71,000, and ZEC took a hit too, without putting up any fight. I wouldn't buy the dip here. First, let's see whether it can reclaim 1,000 on a bounce. If it can't, this is just a pause in the downtrend. Is 900 a trap or a bottom? Any of the Plaza experts care to give us a straight answer?
#HuangExitNvidiaStrategyInFocus #BTC #CryptoNews
The chart makes it even clearer: a double top around 1,388, with bearish divergence showing up twice. Price made a new high, but MACD just couldn't keep up. The death cross at 1,233 came down hard, EMA 12 and 50 both flipped into a bearish alignment, and price slid all the way to 934—a 20.5% drop across the range. The two support levels at 1,122 and 1,214 have both been broken. Now all that's left below is the round-number level at 900; if that breaks, we're looking at 800.
$ZEC is already down 45% from its late-September high of 1,697, and down 24% in 7 days. That moment when Jensen Huang resigned dragged the whole market down with it. Bitcoin broke below 71,000, and ZEC took a hit too, without putting up any fight. I wouldn't buy the dip here. First, let's see whether it can reclaim 1,000 on a bounce. If it can't, this is just a pause in the downtrend. Is 900 a trap or a bottom? Any of the Plaza experts care to give us a straight answer?
#HuangExitNvidiaStrategyInFocus #BTC #CryptoNews
