Zcash Long. Rekt on shortThe ZEC/USD chart shows that a downtrend is continuing, but it would be a mistake to enter a short position right now as it would be to late, and the trader would be rekt on the short. Instead do we enter a long position, when ZEC is at its support line, to avoid this mistake.
The DMI is showing a negative trend and the Stochastic RSI is also showing that the price has some strength left before reaching the bottom. Something to note is that the EMA are about to cross and to the down side and in many cases does this show a strong sell signal, but because of the past price movement do we see that the price movement is dropping to 20-30% and this would further indicate on that we get rekt on the short as the price already has dropped with 25% from 25th of December.
Trade at your own risk.
