To be honest, this bounce around $ZEC is clearly getting pressed down around 416, with significant sell pressure. The price is struggling to break that resistance zone, and the bears are starting to gain traction again; it's going to be tough to push higher in the short term.
Since there’s such heavy selling above, the shorting logic holds up. Entry zone set between 416.00 – 418.50, with a stop-loss at 425.68; the overall risk/reward ratio looks decent. TP targets are set in three tiers: 409.00, 405.00, 401.11, taking it step by step without being greedy for the last bit.
In my view, as long as the price stays below resistance, a pullback to find support below is a high-probability scenario. Don't rush to catch a falling knife; wait until the bears are spent before making a move.
#ZEC
Since there’s such heavy selling above, the shorting logic holds up. Entry zone set between 416.00 – 418.50, with a stop-loss at 425.68; the overall risk/reward ratio looks decent. TP targets are set in three tiers: 409.00, 405.00, 401.11, taking it step by step without being greedy for the last bit.
In my view, as long as the price stays below resistance, a pullback to find support below is a high-probability scenario. Don't rush to catch a falling knife; wait until the bears are spent before making a move.
#ZEC