$ZEC
lost 1,250. The 1,113 low is getting tested again.
I said 1,250 was the level that decided the bounce, and it broke. ZEC got rejected at the 0.382 (1,336), made a lower high, and dropped back to 1,186, wicking close to the 1,113 low along the way.
1,250 is now resistance. Until ZEC takes it back on a 4h close, it's a lower-high structure, and that's about 5.4% above price.
My call: ZEC retests 1,113, which is about 6% below. If buyers defend it a second time, that's a double bottom, and a reclaim of 1,250 would be the first signal. If 1,113 loses on a 4h close, there's no fib level below it on this chart, and the round 1,000 becomes the next magnet, about 10% under the low.
Sellers have controlled every bounce since the 1,336 rejection. 1,113 decides whether that changes.
Double bottom or breakdown? Drop your call below 👇
#ZEC #Zcash #CryptoAnalysis
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lost 1,250. The 1,113 low is getting tested again.
I said 1,250 was the level that decided the bounce, and it broke. ZEC got rejected at the 0.382 (1,336), made a lower high, and dropped back to 1,186, wicking close to the 1,113 low along the way.
1,250 is now resistance. Until ZEC takes it back on a 4h close, it's a lower-high structure, and that's about 5.4% above price.
My call: ZEC retests 1,113, which is about 6% below. If buyers defend it a second time, that's a double bottom, and a reclaim of 1,250 would be the first signal. If 1,113 loses on a 4h close, there's no fib level below it on this chart, and the round 1,000 becomes the next magnet, about 10% under the low.
Sellers have controlled every bounce since the 1,336 rejection. 1,113 decides whether that changes.
Double bottom or breakdown? Drop your call below 👇
#ZEC #Zcash #CryptoAnalysis
like and follow for more.