$ZEC chart setup on the 4H: a base under a broken shelf.
Binance spot, ~12:00 IST Saturday:
ZEC ~$1,164 (-5% 24h) after rejecting ~$1,249 on Oct 16 and sliding to a ~$1,133 low overnight. Since then it has printed three tight 4H candles between ~$1,135 and ~$1,169, and volume is drying up.
How I'm mapping it:
1. BASE: ~$1,133 to $1,170 is the range buyers are defending right now.
2. TRIGGER: a 4H close back above ~$1,190, the level that gave way on the Oct 16 breakdown candle.
3. TARGET ZONE: ~$1,230 to $1,250, where the last two pushes were rejected.
4. INVALIDATION: a 4H close under ~$1,130 reopens the Oct 15 lows near ~$1,075 to $1,080.
Until one of those prints, the middle of the base is just noise. $BTC sitting flat near ~$81.6k keeps this an alt-specific setup.
A map, not a signal, and not financial advice.
Reclaim $1,190 or lose $1,130 first? Reply RECLAIM or LOSE.
#BinanceSquare #ZEC #ChartSetup
Binance spot, ~12:00 IST Saturday:
ZEC ~$1,164 (-5% 24h) after rejecting ~$1,249 on Oct 16 and sliding to a ~$1,133 low overnight. Since then it has printed three tight 4H candles between ~$1,135 and ~$1,169, and volume is drying up.
How I'm mapping it:
1. BASE: ~$1,133 to $1,170 is the range buyers are defending right now.
2. TRIGGER: a 4H close back above ~$1,190, the level that gave way on the Oct 16 breakdown candle.
3. TARGET ZONE: ~$1,230 to $1,250, where the last two pushes were rejected.
4. INVALIDATION: a 4H close under ~$1,130 reopens the Oct 15 lows near ~$1,075 to $1,080.
Until one of those prints, the middle of the base is just noise. $BTC sitting flat near ~$81.6k keeps this an alt-specific setup.
A map, not a signal, and not financial advice.
Reclaim $1,190 or lose $1,130 first? Reply RECLAIM or LOSE.
#BinanceSquare #ZEC #ChartSetup