$ZEC with a failed continuation after rejecting the exact $570 pivot.

That was our trigger for adding longs, and the rejection shows why I had no interest in front-running it.

Price has since lost the trendline supporting the rally from $360. But after moving over 60% in a matter of weeks, I don’t think there’s any reason to treat this pullback as immediately bearish.

It’s the chart’s natural way of rebalancing a relatively large move, especially directly beneath the largest resistance pivot on the chart.

Rebalance liquidity > consolidate > attempt continuation.

That’s usually the sequence in an uptrend.

And on the HTF, the chart is simply forming a bull flag.

So now, $520 is the important level to observe. It has already acted as two separate liquidity pivots over the past few weeks.

If it holds, I’ll let the chart balance itself and wait for another reclaim of $570 before looking long.

If $520 breaks, the descending triangle starts playing out and I’ll consider low-leverage shorts for a move below $500.

Until then, let them chop and hunt the liquidity in between.
#$ZEC ‌