Zcash AI (ZEC)

Still holding large bags of $ZEC $HYPE $TAO, ethereum:0xfaba6f8e4a5e8ab82f62fe7c39859fa577269be3

No plans to touch those bags for a few years.

$ZEC

The ZEC thesis I've been laying out since May continues to play out almost exactly as expected.

Remember when people were telling me near the top this wasn't how it was going to unfold?

We've already seen price lose the macro swing pivot at $405, triggering the breakdown back into the $300s.

Unsurprisingly, it's now attempting to reclaim that level to undertake another Type 2 distribution.

This has been one of the defining characteristics of ZEC over the last year. We've repeatedly seen 10% daily swings as price whipsaws around key levels.

Step 1. Lose a major support.

Step 2. Temporarily reclaim it to trap buyers and sweep the opposite side.

Step 3. Reject to print the next lower high.

Step 4. Continue the downtrend.

We've seen that exact sequence play out multiple times inside this descending channel, with each rally eventually rejecting from the upper trendline.

Now we're approaching the apex of this decision point.

Either ZEC finally breaks out of the channel and invalidates the bearish structure to set another lower high pivot, or this reclaim fails, $400 is lost again, and the downtrend continues.