PRIVACY COINS JUST BLED WHILE MEMES PARTIED
The privacy board split in two today
$XMR fell 6 percent to 610 on 150 million in volume
$ZEC fell 2 percent to 1222 on 884 million in volume which is the heaviest tape in the sector
$DASH ripped 6 percent to 53 and refused to join the funeral
The reason for the ZEC slide is not a mystery
Futures open interest dropped 12 percent to 2370 million
Traders closed leveraged positions after the recovery run
One whale closed an 11 million dollar short at a 661 thousand dollar loss and reopened smaller
That is forced exits clearing the book not fresh conviction selling
And here is what the sellers are ignoring
ZEC still holds the 1200 line and the NU7 upgrade lands in early November
NU7 cuts the block interval from 75 seconds to 25 seconds
The 1350 level is the prize if 1200 holds into the upgrade
My take as an analyst?
I want to be long ZEC into NU7 but only with 1200 as my line in the sand
A daily close under 1200 kills the idea and I stay in cash
Trade plan on $ZEC
Entry 1200 to 1220 while the flush is still fresh
Target 1350 ahead of the November upgrade
Stop on a daily close under 1200
Blood in the street is either a warning or an invitation
This time I am reading it as an invitation with a stop attached
#BinanceSquare #WriteToEarn #Crypto #Bitcoin #Privacy
The privacy board split in two today
$XMR fell 6 percent to 610 on 150 million in volume
$ZEC fell 2 percent to 1222 on 884 million in volume which is the heaviest tape in the sector
$DASH ripped 6 percent to 53 and refused to join the funeral
The reason for the ZEC slide is not a mystery
Futures open interest dropped 12 percent to 2370 million
Traders closed leveraged positions after the recovery run
One whale closed an 11 million dollar short at a 661 thousand dollar loss and reopened smaller
That is forced exits clearing the book not fresh conviction selling
And here is what the sellers are ignoring
ZEC still holds the 1200 line and the NU7 upgrade lands in early November
NU7 cuts the block interval from 75 seconds to 25 seconds
The 1350 level is the prize if 1200 holds into the upgrade
My take as an analyst?
I want to be long ZEC into NU7 but only with 1200 as my line in the sand
A daily close under 1200 kills the idea and I stay in cash
Trade plan on $ZEC
Entry 1200 to 1220 while the flush is still fresh
Target 1350 ahead of the November upgrade
Stop on a daily close under 1200
Blood in the street is either a warning or an invitation
This time I am reading it as an invitation with a stop attached
#BinanceSquare #WriteToEarn #Crypto #Bitcoin #Privacy