"Wow, 200,000 overnight? Seriously, no one told me that trading cryptocurrencies could be this profitable! Anyway, let's talk about the trend of ZEC (Zcash)
ZEC just couldn't hold on any longer. It straight-up plunged 30% overnight, and honestly, this crash was predetermined a long time ago. The big players (whales) aren't running a charity; they didn't push it up this high just to hand out money to retail investors. In the end, they were always going to harvest (take profits).
As you can see on the chart, it formed a Double Top and broke the neckline at the 550 level. It looks like the final endpoint might be near the previous low of 430, but yes, the 500 level does have some support. If you want to play it safe, it's totally okay to take some profits here too.
I have to admit, it has dropped a bit too much in the short term, and we might see a slight rebound. For example, you could consider shorting (betting on a drop) again near the neckline, specifically around 540–560.
I personally opened a 1x long position—which won't get liquidated (meaning I won't lose my principal). I actually opened a 20x position with 5% margin, which, in reality, carries 1x risk. Even if it gets stuck temporarily, it will eventually come down later.
Overall, our short positions in the three legendary cryptocurrencies—ZEC, FIL, and ICP—have all completely collapsed after two weeks. Shorting with a 1x long position means you're not afraid of fluctuations; it feels limitless. Now, we can start considering slowly taking some profits.
So, cryptocurrency trading is just like that: watch the trend, don't be influenced by public opinion, and you'll achieve the best results! We open orders every day, and we keep improving together!"$ZEC
