ZEC has set a new RECORD price at $375 after a HIDDEN BULLISH RSI divergence predicted the extension of this face-melting WAVE 5 rally.
All good things must come to an end, or at least to WAVE A and WAVE C corrective moves to the downside.
I obviously don't intend to LONG before my WAVE A correction is complete, right now it would be stupid to enter with overbought RSI and actually after a long-term rejection.
$372 was the MAY 2021 ATH, so now a resistance area has been established.
The only strategy that makes sense in my mind is to LONG when signs of a reversal start flashing during the inevitable CORRECTION.
And one potentially strong area of support I found has been on my radar.
$298 - $303, this is my zone of interest. Confluence of horizontal, rising diagonal levels + Fib 0.382 retracement of the current/recent rally (WAVE 5).
Alternatively, a level lower (fib 0.5), $281, in confluence with 50 MA on the 4-HOUR chart for dynamic support, and obviously the lower boundary of a RISING wedge.
So. Simply a strategy of not aping in late, and patiently waiting for a strong BUY-THE-DIP opportunity. Simple game, zero drama here.
