$ZEC ALERT: $1,700 SWEPT — PROFIT-TAKING UNDERWAY
$ZEC just had an explosive move past $1,700, but look closely at what happened at the top!
Perps Are Dumping: Futures traders are taking their money off the table, logging -$7.06M in outflows on the 4H chart.
That spike above $1,700 swept all the breakout stops, printed a massive upper wick, and pulled right back to $1,634.
Spot Follow-Through Stalled: Although a quick $7.3M spot bid launched the initial spike, spot flows have flipped red on the 1-hour (-$879K) and 5-minute charts (-$626K). Spot sold into the highs.
Do not FOMO the top of this wick. The smart money used that push past $1,700 for exit liquidity. Let the price cool off and look for a solid support test around the $1,580 retest zone before entering new positions!
#ZECUSDT
$ZEC just had an explosive move past $1,700, but look closely at what happened at the top!
Perps Are Dumping: Futures traders are taking their money off the table, logging -$7.06M in outflows on the 4H chart.
That spike above $1,700 swept all the breakout stops, printed a massive upper wick, and pulled right back to $1,634.
Spot Follow-Through Stalled: Although a quick $7.3M spot bid launched the initial spike, spot flows have flipped red on the 1-hour (-$879K) and 5-minute charts (-$626K). Spot sold into the highs.
Do not FOMO the top of this wick. The smart money used that push past $1,700 for exit liquidity. Let the price cool off and look for a solid support test around the $1,580 retest zone before entering new positions!
#ZECUSDT
