$ZK - SHORT Setup
Entry: 0.03905 – 0.03915 (On failure to break higher)
Target 1: 0.03700
Target 2: 0.03520
Stop Loss: 0.03980
My View:
Price has rallied nearly 30% in the past 7 days but is now showing a sharp rejection candle from the 24h high of 0.04180, trading significantly lower. The Order Book tells a definitive story: there is an enormous Ask wall of over 273K ZK at 0.03912 and a massive 2.9M ZK at 0.03913, indicating immense selling pressure directly above the current price. In stark contrast, the Bid support below, while present, is orders of magnitude smaller. This is a classic supply-heavy structure after a rally, signaling a high probability of a deep retracement as buyers are overwhelmed.
Bias: Bearish below 0.03910. A decisive break and hold above 0.03980 would be needed to challenge the Ask wall and potentially invalidate the short setup.
Disclaimer: My plan. Not advice. Trade your own risk.
