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ZKP 15-minute chart shows a bearish divergence signal. The open interest has dropped from over 19 million to just above 16 million, which is a typical profit-taking and clearing stage. Currently, it is still in the first wave of decline, and no effective support has formed above 0.18. Next, attention should be paid to whether the 0.16 to 0.17 range can see increased volume to support a rebound. If this level cannot hold, it may directly bottom out to 0.1 later on.
The positive news has been fully digested, and what remains is a continued downward trend. It is recommended to stay on the sidelines and avoid rushing into long positions just because of a rebound. If you want to trade, a short-selling approach would be more appropriate. Be sure to watch out for rebound traps.
Still pondering whether 0.16 can hold? I think it's doubtful, just look at 0.1.
All the good news has been priced in, next is the scenario of a one-sided decline; bears are the way to go.
The rebound trap is something people fall for every time. I don't believe in rebounds.
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Position volume plummeted by 3 million. That’s quite interesting.
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If 0.16 doesn’t hold, it’ll drop straight to 0.1? Who are you trying to scare?
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Once the good news is digested, it should fall. The logic makes sense, but who knows when the next good news will come?
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A bearish outlook is more appropriate... Why do I feel like this is discouraging small investors?
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The bearish divergence is back again. Will this be a false signal this time?
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If you don’t take the position, how will you sell off? Haha.
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If 0.18 doesn’t hold, what’s the point of talking about support?
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The sharp decline in holdings really is a form of cutting the leeks.
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If it can't hold 0.16, it will directly drop to 0.1. At that point, it will be another round of bottom-fishing feast.
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Shorts are not wrong, but greedy people still get hurt during rebounds.
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After the good news is exhausted, it's just a matter of waiting for death. Just watch.
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I just want to know who will buy the dip at 0.17. Probably another round of being trapped.
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A typical sign of distribution. Smart people have already run.
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This drop is fierce. Going from 19 million to 16 million so quickly.
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Don't buy the dip. Really, wait until the rebound comes.
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I think 0.1 is uncertain. It might rebound early. It all depends on how the main players play.