Zcash (ZEC)

.@tushar_jain on Zcash:

"AI is going to widen inequality, which drives a political movement for wealth seizure. Bitcoin won't protect you, those balances are public.

So while I was bearish before, we now have a substantial Zcash position in the fund. I'm bullish." https://t.co/skRb4FWsmI

$ZEC

It's pretty simple for Zcash.

This move is following the November fractal almost point-for-point.

Rally into the $700 region.

Correction back into the $300s.

Relief rally back into the $500 resistance.

The only question now is whether this rally is another relief bounce like November, or the beginning of a new trend.

What's interesting is that price has already stalled at the exact same resistance.

Around $540, which is the same spot where the rally stalled last year.

So for me, that's the level I'm watching.

If ZEC keeps rejecting there, the November fractal is still intact and the correction likely has more work to do.

If it can close above that region and establish acceptance, the fractal would start invalidating.

At that point I'd be far more interested in treating this as a breakout setup rather than another lower high.