$ZEC Violent rise of 10% is a trap? The double top at 700 has appeared, short with your eyes closed!
Attention everyone! ZEC skyrocketed 10% overnight, directly hitting 655, and the highest in 24 hours reached 685! On the surface, it seems like a bull market restart, but in reality, it's a dead cat bounce driven by "news stimulus + oversold rebound"! If we don't short at this position, when will we?
🔥 Why am I firmly bearish?
From a technical perspective, a perfect double top has formed around 700, which is a historically significant resistance level. Although the MACD is still high, momentum has clearly begun to wane, and the trading volume cannot keep up with the price increase, typical of a bull trap!
From the news perspective, the favorable conditions have already been fully priced in. The U.S. restart is merely a short-term emotional stimulus and cannot fundamentally change ZEC's situation. The regulatory environment for privacy coins remains severe, the EU continues to exert pressure, and the positions of whales are still on the edge of a cliff, ready to flash crash at any moment.
🎯 Shorting Strategy:
Set the entry range at 690-710, and I recommend a staggered layout. I have already set my ambush, and make sure not to use too much leverage, setting the forced liquidation at 1100 is relatively safe.
Target levels:
First target 620 (close 30%)
Second target 580 (close 40%)
Ultimate target 530 (completely break through the previous low)
Set the stop loss firmly at 730, and it is expected to take some time to drop to the target in the short term.
Remember ZEC's survival rule: after a surge, there must be a plunge, and rebounds are opportunities to make money! The favorable conditions from the U.S. restart have already been fully priced in, and the next moment is for value to return.
"While others chase the rise, I go short; while others cut losses, I take profits!"
"ZEC is not a value coin; it is an emotional coin + leveraged coin!"
"Anything above 700 is a golden short point, just go for it with your eyes closed!"
In summary: Short in the 690-710 range, targets 620/580/530, stop loss at 730, leverage should not exceed 3 times, light positions to catch big profits!
⚠️ Risk Warning: The market has risks, and investment requires caution. This article is merely personal opinion and does not constitute investment advice!
