CAKE/USDT - Triangle Breakout
CAKE/USDT is currently breaking out of a triangle pattern after a period of consolidation. The price is now testing the key resistance area at $2.80. Once this resistance is cleared, we can expect a strong bullish move towards $3.50 - $4.00.
Bullish Scenario:
Break above the $2.80 resistance confirms the breakout, targeting $3.50 - $4.00.
Pro Tip:
Watch for volume confirmation to ensure the breakout is sustainable. Set stop losses below the breakout zone to manage risk.
CAKE/USDT is currently breaking out of a triangle pattern after a period of consolidation. The price is now testing the key resistance area at $2.80. Once this resistance is cleared, we can expect a strong bullish move towards $3.50 - $4.00.
Bullish Scenario:
Break above the $2.80 resistance confirms the breakout, targeting $3.50 - $4.00.
Pro Tip:
Watch for volume confirmation to ensure the breakout is sustainable. Set stop losses below the breakout zone to manage risk.
Trade active
CAKE / USDT Broke out from horizontal resistance and up +16% after our call. Currently retest is in progress.
Bullish scenario active
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🚀 Join my Telegram community for free crypto signals, entry/exit points, and real-time market updates!
👉t.me/CryptoPrime18
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.