Whales $ZEC are trapped in a nightmare with 22 million dollars: Don't fall into the trap of fake buying!
The ZEC coin is currently trading around 228 dollars, and a quick glance at the long/short ratio of 133% might make you think it's a good time to buy the dip. However, if you delve into the data from Binance, you'll see a big trap being set right now.
:
1. It's just a complete illusion. There is a small group of 77 whales holding massive buy positions worth 30 million dollars at an average entry of 403.35 dollars! They are now sitting on shocking unrealized losses of 22.8 million dollars. They are trapped and praying for a price rebound.
2. Smart money is selling: Look at the real numbers of traders. 256 whales and 487 smart traders are riding the downward wave with sell (Short) positions. Their average entry ranges between 252 - 255 dollars, meaning that the majority are comfortably making profits.
3. The momentum is decidedly bearish: Net trading volumes in the last 30 minutes confirm that sellers are still in control of the market, as selling volume consistently outweighs buying volume.
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Trading plan:
* Trade: Sell (Short) ZEC/USDT
* Entry zone: 228.50 - 232.00 dollars (current levels at any slight rebound)
* First target: 220.00 dollars
* Second target: 210.00 dollars
* Stop loss: 242.00 dollars (protects our capital while staying below the average entry of winning sellers)
!