ZEC this coin indeed has people wanting to continue shorting. I also considered this idea, but the previous high point was not well-timed, and entering the market midway for a short faced many uncertainties, especially after the 330 spike, which made things a bit more stubborn. We still need to review the technical aspects first.

From the chart, regardless of the timeframe, it is in a downward channel. However, a closer look at the smaller timeframe's downward channel reveals a signal — it has almost tested the bottom, and is now attempting to break through this small channel. Will it succeed? That depends on Bitcoin’s overall trend. So, directly taking a short position carries significant risk, especially when leverage is increased.

Let's assume Bitcoin's rebound after dropping from 87,800 can reach the following levels: 91,000, 92,000, 94,000 — these are more likely. Correspondingly, for ZEC, the rebound height might fall within the range of 380, 400-420, 440-460.

My view is that within 440 is still within its reasonable rebound range. Surpassing 440 would have another implication — it would mean breaking through the larger downward channel (the one connecting the highest point of 77,500 to the rebound high of 55,500, which has a relatively gentle angle). Once it surpasses 440, the possibility of reaching 550 will significantly increase. But what is the prerequisite? Bitcoin must break through 98,000.