$ZEC
Starting to look very heavy.
Still no real acceptance above $610, and now we’re seeing price flush through multiple supports.
Every attempt above that resistance continues getting aggressively sold back down into deeper levels.
Not exactly the type of price action I want to see if this move is preparing for continuation.
So for now, this still looks like a complex Head and Shoulders developing, with the multi-peak head already formed and the shoulders building around $610.
Given we’ve now lost critical levels off these heavy rejections, the focus shifts back to the neckline at $520.
If that former swing pivot breaks, the pattern completes, and we’ll likely see a flush below $500.
I’ll be looking to take positions when we get closer to the completion of the pattern. 🤟