$ZEC Is this rebound already coming to an end? The opportunity to short is right in front of us.

ZEC recently surged violently from around 430 all the way up to 606, with a short-term increase of over 40%, igniting market sentiment instantly. Many people are shouting "The spring of privacy coins has arrived." But in Mr. Lin's view, this looks more like a typical rebound trap.
Why continue to be bearish on ZEC? First, the privacy coin sector itself has already shown clear signs of decline. As global regulations continue to tighten, the U.S. Treasury Department's crackdown on mixing protocols and anonymous transactions is intensifying, putting pressure on the entire privacy coin ecosystem. As a representative of privacy coins, policy risk is always the biggest hidden danger for ZEC. Second, from the chart perspective, the current trend is not healthy. Every rally is quickly met with sell-offs, indicating heavy selling pressure above. The 610 level has formed a clear resistance, but trading volume is gradually shrinking, and the market lacks new incremental funds to continue the rally.
More importantly, market sentiment has already started to overheat. The more everyone is bullish and shouting about a bull market, the closer we are to the main players offloading their positions.
Trading idea: Gradually short around the current price with stop-loss above 610. Target: a 15%-20% pullback.
ZEC's recent surge seems more like an opportunity for those holding high-position longs to reduce their positions and exit, rather than the start of a new bull market. For bears, this is actually a good time to enter and buy the dip!! Keep up with the rhythm—two simple words: buy the dip!! #Gate广场五月交易分享