Pair: CAKE/USDT 💱
Timeframe: 1D 📅
Pattern: Head and Shoulders Top 🧠
CAKE is developing a clear head and shoulders pattern on the daily chart, often seen as a bearish reversal setup. Price is currently testing the neckline support around 2.18, which also aligns with an ascending trendline. A breakdown here could trigger downside continuation.
Bearish scenario ❌
If CAKE closes below the neckline and trendline (under 2.15–2.10):
🎯 Target 1: 1.85
🎯 Target 2: 1.55
🛑 Stop loss: above 2.45 (right shoulder top)
Bullish reclaim ✅
If bulls defend the neckline and reclaim 2.35 with strong volume, the pattern may invalidate and lead to a rally.
⚠️ Volume confirmation is key — wait for a clean break and retest for confirmation.
Timeframe: 1D 📅
Pattern: Head and Shoulders Top 🧠
CAKE is developing a clear head and shoulders pattern on the daily chart, often seen as a bearish reversal setup. Price is currently testing the neckline support around 2.18, which also aligns with an ascending trendline. A breakdown here could trigger downside continuation.
Bearish scenario ❌
If CAKE closes below the neckline and trendline (under 2.15–2.10):
🎯 Target 1: 1.85
🎯 Target 2: 1.55
🛑 Stop loss: above 2.45 (right shoulder top)
Bullish reclaim ✅
If bulls defend the neckline and reclaim 2.35 with strong volume, the pattern may invalidate and lead to a rally.
⚠️ Volume confirmation is key — wait for a clean break and retest for confirmation.
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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.
🚀 Join My Telegram Community for FREE trading signals, entry/exit points, and instant updates!
👉 t.me/cryptobyghazii
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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.