$ZEC tagged $800.67 yesterday and has already bounced back to around $900, up roughly 4-5% on the day with over $2.2B traded on Binance futures. A week ago it was sitting near $1,210, so this is a relief bounce inside a pretty brutal downtrend.
On the NanoTrading Fire chart (4h) price is chopping inside a dense band around $850-890, with another layer at $800-830 that caught the wick. Overhead it gets heavy fast: bands from about $950 to $1,030, then the thickest heat around $1,080-1,150. The volume profile POC is all the way up at ~$1,239, so most of the volume traded well above here.
Futures look like a market that doesn't believe the bounce. OI has been flat around $400-420M all day, funding is barely positive (~0.006%), and retail accounts lean short (long/short 0.96) while top trader positions are still about 1.48x long.
My plan: a clean 4h close above $950 is my signal for a squeeze into $1,000+, with shorts as fuel. Lose $850 and I expect another trip to the $800 zone. Is $ZEC bottoming here or is this just a dead cat? 🤔
Source: NanoTrading Fire chart (nanotradingclub.xyz)
NFA, just my map.
#ZEC #Zcash #NanoTrading #CryptoTrading
On the NanoTrading Fire chart (4h) price is chopping inside a dense band around $850-890, with another layer at $800-830 that caught the wick. Overhead it gets heavy fast: bands from about $950 to $1,030, then the thickest heat around $1,080-1,150. The volume profile POC is all the way up at ~$1,239, so most of the volume traded well above here.
Futures look like a market that doesn't believe the bounce. OI has been flat around $400-420M all day, funding is barely positive (~0.006%), and retail accounts lean short (long/short 0.96) while top trader positions are still about 1.48x long.
My plan: a clean 4h close above $950 is my signal for a squeeze into $1,000+, with shorts as fuel. Lose $850 and I expect another trip to the $800 zone. Is $ZEC bottoming here or is this just a dead cat? 🤔
Source: NanoTrading Fire chart (nanotradingclub.xyz)
NFA, just my map.
#ZEC #Zcash #NanoTrading #CryptoTrading
