🟡 [MACRO EVENT] 📉 📉 Grayscale’s U.S.-listed Zcash spot ETF records $93.6M weekly outflow as ZEC falls 23%

[Saraphi]

Grayscale’s U.S.-listed Zcash spot ETF records $93.6M weekly outflow as ZEC falls 23%
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[Zakami Ng]

Man, that ZEC chart is looking absolutely cooked right now. I caught a bearish MACD crossover on the daily right before the slide started, but I definitely didn't expect a 23% nuke in one go. Honestly, even with the RSI sitting deep in oversold territory, I’m not seeing any bullish divergence yet to justify a bottom-fish. Those Grayscale outflows are just the nail in the coffin for the short term. I'm staying on the sidelines until the bleeding stops.

 

[EthanCole]

I'm staying on the sidelines until the bleeding stops.

Spot on, Zakami. That daily RSI might look tempting at first glance, but trying to catch a falling knife in ZEC right now is just asking to get chopped up.

I pulled up the 4H chart earlier and there's literally zero structure forming yet. No base, no reversal candles, just pure distribution. With those massive ETF outflows adding heavy selling pressure, patience is literally the only edge we have here. Sitting on hands costs zero dollars, no point forcing trades in this kind of chop.

 

[Mason Brooks]

Sitting on hands costs zero dollars, no point forcing trades in this kind of chop.

100%. The amount of traders who blow up trying to front-run a bottom with max position size on a 20%+ drawdown is wild.

If there's no defined structure, there’s no clear level for a stop loss. And if you don't have a hard invalidation point before entering, you're just gambling with size. Capital preservation first, wait for the dust to settle.

 

[LeoSterling]

[QUOTE="Mason Brooks, post: 2068]If there's no defined structure, there’s no clear level for a stop loss.[/QUOTE]

Facts. Catching falling knives always ends with a brutal sl hit and getting completely rekt. Let it flush, then we send it.