CAKE / TetherUSLong
CAKE is About to Break! (Possible Short-Term Correction)
Hello Traders 🐺 .
As you can see on the chart, CAKE is approaching a critical breakout level, but before that, we might see a short-term correction to shake out weak hands.
This could be a healthy retracement before a strong bullish continuation, so keep an eye on key support levels! 📊🔥
Are you ready for the next move? 🚀
In my personal humble opinion, we could take a look at the daily chart to find a good entry price and make the most of the upcoming volatility :
As you can see in the chart above, the price might correct to the buy zone for reaccumulation before continuing its upward movement. If BTC.D keeps dumping, we could expect even more bullish action! 🚀
Make sure to check out my BTC.D analysis and follow me for more updates!
🔹 Midterm Target: If CAKE successfully breaks the monthly resistance, the next major target would be around the 0.786 Fibonacci level, which also acts as a strong resistance! 📈
As you can see on the chart, CAKE is approaching a critical breakout level, but before that, we might see a short-term correction to shake out weak hands.
This could be a healthy retracement before a strong bullish continuation, so keep an eye on key support levels! 📊🔥
Are you ready for the next move? 🚀
In my personal humble opinion, we could take a look at the daily chart to find a good entry price and make the most of the upcoming volatility :
As you can see in the chart above, the price might correct to the buy zone for reaccumulation before continuing its upward movement. If BTC.D keeps dumping, we could expect even more bullish action! 🚀
Make sure to check out my BTC.D analysis and follow me for more updates!
🔹 Midterm Target: If CAKE successfully breaks the monthly resistance, the next major target would be around the 0.786 Fibonacci level, which also acts as a strong resistance! 📈
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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.
Related publications
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.