CAKE - is going to skyrocket 🤯🚀There is an interesting pattern on the CAKE chart. You can see the trend line, the price has already tested it four times, but has not yet been able to break it. With each test, the resistance is weakening, so we should expect a breakdown of this trend line.
There are two scenarios worth noting:
- If the price reaches a low of $17.7 and then breaks this resistance line, this would be a very good buying opportunity.
- If the price squeezes and then breaks this trend line, that would also be a good buying opportunity.
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P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade.
