If you're still fixated on the one-hour K-line support levels of ZEC, you might have already missed the most important thing to see clearly — the weekly chart.

Take a look at the weekly chart; the double top structure is clearly laid out there. This isn't some complicated wave theory, nor is it a signal that requires ten indicators to confirm. Two peaks, with a valley in between, and now the price is sliding down from the second peak. Anyone who has studied technical analysis knows what this means.

In the past 24 hours, ZEC has fallen 8.5%, with the lowest touching around $522. Some might say, it’s fallen too much, it should bounce back, right? But the problem is, once a trend at the weekly level is formed, it can't be reversed overnight.

Don’t be fooled by the actions of individual whales. Indeed, some addresses withdrew 2,872 ZEC from exchanges, seeming like they’re stockpiling. But on the other side? Another big player is exiting the market and even opened a leveraged short position. There are disagreements among the big money, and the one exiting has chosen to go short — which is not a good sign.

Arthur Hayes said ZEC has five times the space in the next year, but take that with a grain of salt. Analysts’ calls are always the finishing touch, not the saving grace. When the trend is downward, even the best stories can't support the price.

Technically, there's even less to say. The short-term cycle is already oversold, but oversold doesn’t mean the decline stops, let alone reverses. The momentum of this drop hasn't been fully released, and the double top on the weekly chart is still pressing down, with no bottom in sight.

I don’t know how low this wave will fall. $500? $450? Or even lower? No one can give an exact number. But I do know one thing — it will fall until most people in the market lose all confidence. At that point, panic selling will surge, and the price will drop layer by layer like an escalator.

So there’s nothing to fuss over right now.

If you still hold spot holdings, you should consider selling if you can. If you don’t want to sell, at least consider hedging. For those wanting to short, the weekly double top provides a very clear background. Just place your stop-loss above the previous high, and the risk-reward ratio will be worthwhile no matter how you calculate it.

Don’t wait until the price drops deep and then regret not acting. Don’t wait until no one is talking about ZEC anymore, and then realize the signals were there all along.

The weekly double top isn’t something you encounter every day with certainty. The opportunity is right here — the rest depends on you. $ZEC ‌#Gate预测市场升级聪明钱追踪