Yesterday, #zec broke through the neckline with increased volume, which exceeded previous expectations, leading to a misjudgment of the height of this rebound. However, from a broader trend perspective, I still believe this is just a wave B rebound at the weekly level (with three consecutive weeks of decreased volume), and the subsequent wave C decline has not changed. It is important to note that after breaking through the neckline, market variables have increased; if you are positioning for a long short, it is best to keep the liquidation price above 800, and moving it up to 1000 USD would be even safer.

To focus on the breakout of $ZEC , I closed my position when $XMR was close to the breakeven price yesterday. Looking back at ZEC's rebound from this round's low of 300, the rebound has reached a maximum of 527 for a 75% increase, with three positions collectively giving back 60,000 U in profits, experiencing another round of roller coaster market conditions. Including the three roller coaster experiences during the top accumulation phase, the current weekly level has completed the fourth roller coaster, which is also a core repeated roller coaster fluctuation testing the patience of long positions. As long as there is no major mistake in the judgment of the broader trend, the intermediate fluctuations should not be overly concerned.

In terms of operations, I executed a limit order of 12,000 U in the 480-520 range, and the current main position still has over 10,000 U in floating profit, while the adjacent position’s floating profit has shrunk to over 4,000 U, and the floating profit of the USDC position has been completely given back. During this round of rebound, I added some short positions worth several tens of thousands of U, bringing the total position to around 250,000 U. To guard against extreme upward risks, I also added some margin yesterday, keeping the liquidation price around 800.

This round of upward movement has caused a large number of high-leverage shorts to be liquidated. From the smart money data, 85% of the shorts are in a losing state, with only a few long-term shorts still holding profits. Judging from the funding rate leveling off, the willingness to add new shorts after the breakout is limited; they are either passively liquidated or afraid to increase their position. The next focus needs to be on whether ZEC can stabilize above 500. If it continues to rise, there is still a lot of trapped selling pressure above. If it cannot stabilize above 500 and turns back within the next three trading days, yesterday's breakout is likely a false breakout. In terms of operations, it is recommended to focus on defense, prioritize increasing the margin ratio, cautiously add positions, and closely monitor the effectiveness of the 500 support.