source avatarTrader Steve

Share

$ZEC spiked on the hot CPI print and gave it all back within two hours. I lean short, but not at this price. I'm waiting for a bounce into the support that just broke, then selling there. The tension: price sits right above a floor that has held for over a month. The range had been printing higher lows. That ended today. Why short: - Three of four technical methods point down: ICT, Wyckoff and divergence. - Lower highs on the 4h four times in a row, and lower lows with them. - RSI is making new lows with price. Selling isn't fading yet. The sell zone matters because several things stack there: the broken 12h long-term average, the gap the drop left behind, and a one-third retrace of the leg. On ICT: the spike looks like a classic Judas sweep. It took the liquidity above the equal highs and failed. That turns the area above into supply, and the unfilled gap below it becomes the first place sellers should return. I'm wrong if price reclaims the pre-drop range. That would mean the breakdown failed. Risks: a quick dip under the floor that snaps back could trigger a sharp reversal. And if price breaks lower without bouncing, my order never fills. Published by YTIlab · OMNISIGHT REPORT Not investment advice. All decisions and responsibility are your own.

No.0 picture
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information. Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.