CryptoCoinDesk
Bitcoin in danger of dropping to $60,000, with Zcash bulls turning their backs on ZEC
1 min readAnalysis by AlgoThesis Editorial Desk
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The story
Bitcoin is showing technical weakness and is at risk of falling to the $60,000 level, a key psychological and technical support zone. This broad crypto weakness is also impacting altcoins, with sentiment reportedly turning negative on Zcash (ZEC).
The two-sided take
Angle
↓ SHORT-10% target+4% stop1-2 weeks
Short BTC-USD targeting a test of the $60k support level as broad market risk-off sentiment spills into crypto.
Basket · verified prices unavailable
0 of 2 names have verified EOD history. The basket chart is hidden rather than showing illustrative data.Missing: BTC-USD, ZEC-USD
The house read
Wrong ifA broader market 'risk-on' rally or a positive crypto-specific catalyst (e.g., ETF flow data surprising to the upside) could cause a sharp reversal and stop out the position.
Published read · research, not advice