Recently observing ZEC's trend, market sentiment is really interesting. After Wave C1 plummeted rapidly, people's confidence dispersed, and panic spread across the market. When Wave C2 rebounded, sentiment started to become shaky—some began to doubt the validity of the main downtrend, even chasing longs in the trend. This kind of "repetitive alienation" is exactly the situation that short sellers want to see.

The key still lies in this 440-460 range. This is not only a technical resistance level but also a watershed for sentiment. Once the price touches this area, optimistic market sentiment may temporarily heat up, and investors are prone to the illusion of a "trend reversal," attracting more longs to blindly enter. But what is the reality? Sentiment recovery within the main downtrend often fades quickly. A rebound without fundamental support, no matter how driven by emotion, is bound to be swallowed by the main downtrend. Short sellers don't need to exert much effort to push prices higher; they can simply guide longs through emotional fluctuations, and the subsequent decline positions are naturally set.

Therefore, in trading strategy, the 425 level is very critical. It is the critical point for controlling sentiment. Falling below 425, the market is mostly cautious and panicked, fitting the rhythm of the main downtrend; once it breaks above 425, sentiment is likely to enter an optimistic zone, and judgments may become distorted. Placing the stop-loss at 425 to defend can effectively avoid the trap of emotional alienation while maintaining a core understanding of the main downtrend. When the price truly stabilizes at 440-460, it signifies a fundamental reversal of market sentiment. At that point, one must abandon the original emotional perception and reassess the situation.