$ZEC Trapped after buying at 1498, down 260 points! 160k short ZEC positions are stacked above for liquidation; Mige: Stop holding on, or you'll really become cannon fodder!

Brothers, for those who chased long on ZEC at 1498, the current price is 1240, with an unrealized loss of 260 points. Are you still waiting for a V-shaped reversal? Wake up and look at the liquidation chart. Above 1498 is the shorts' stronghold, with 160k ZEC in short positions stacked for liquidation, while longs account for only 84k. The bears are completely in control. What you're holding isn't a position—it's ammunition for the market makers.

The daily MACD has formed a death cross with rising volume, and RSI has fallen below 20, indicating extreme oversold conditions. But oversold does not mean the decline has ended; in a weak market, oversold can become even more oversold. 1225 below is the final line of defense. Once it breaks, the price will head straight for 1100. 1280-1300 above is the first resistance zone, while 1498 is the bears' old stronghold. Don't fantasize about getting back there in one step.

Unwinding strategy:
Don't hold on stubbornly. If the price rebounds to 1280-1300, you must reduce your position or hedge it, leaving yourself some ammunition. If the price falls to 1150-1180 and stabilizes on declining volume, add to your position to lower the average entry price and trade the swings.

Remember: nothing can be built without breaking through, and protecting your principal is more important than getting back to breakeven.

Personal opinion: Everyone's position size is different, so how to place orders at specific levels and allocate funds for adding to the position will vary. Follow Mige, and I'll help you sort it out. Don't fall before dawn—staying alive means you'll have another wave!

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