APEMORE📊🎨🀄️

Decision time for $ZEC. We’ve seen a clear ascending triangle develop from the $1,050 lows, where buyers stepped in to defend the neckline area of the potential macro head and shoulders. We’ve also had multiple attempts to break through $1,370, with price still holding the trend line that’s been developing from those lows. If we hold the trend line and finally break through $1,370, we should see a sizeable squeeze, considering how much short liquidity is stacked above this pivot. That would carry us back towards the recent highs around $1,500–$1,700. I’m personally still short from $1,420, but I’ll close all my shorts and flip long if we break above $1,370. However, until that breakout happens, I’m still expecting the macro downtrend to continue. If we get the compound breakdown below the trend line and $1,210 support, I’d be looking for a move back towards $1,100, putting the larger neckline area under pressure again. If this recent rally forms the right shoulder and we then lose $1,100, I’d expect a flush into the prior cycle-high liquidity. As I’ve said before, if we do get that flush, I believe it would mark the final stage of the macro correction before price stabilises and begins trending higher.