ZEC Short on 4h and 1h

ZEC has broken through the bottom of the ichimoku cloud on both 1h and 4h charts. Both of them have lagging span (yellow) below price action, further confirming turn downward. Support may be found at 0.0418.

Kommentera:

Fully broken through the bottom of the cloud, but sentiment isn't strongly bearish.

1) TK crossover (blue and white lines) happened in bullish territory, which supports weak bearish sentiment.

2) Price is currently pretty far below from the base line (white) which can act like a stretch rubber band, pulling price upward

3) The cloud is twisting and thin in the near future, providing an easy entry into bullish territory.

I'd still consider this a downward trend, but only tentatively.

Kommentera:

I'm now calling this a long entry and will create a new idea for that.