Get started

Cakeusdtlong

My idea for CAKE/USDT in the coming days/weeksI can see a bullish flag on the CAKE/USDT daily chart: prallel descending channel after a long price explision. No RSI or MACD divergence (higher highs on price and the latter 2 indicators alike) -> I expect no trend reversal, I am still bullish. Strong confluence: min/max price Fibonacci 0.618-level retracement aligns with default daily Keltner Channel bottom. Also a past resistance ($29.333) is almost touching these levels. Past resistance may act as support for this falling price. Checking the 4-hour chart a bounce upwards may be imminent. If it breaks the upper channel level, it may go up to ~$54. If I stick to the daily chart, I assume the price would go up to the channel top, bounce back to around ~$30-$31 then race up to break the upper channel level all the way to $53. Also the Fib-retracement level 1.272 level is ~$54. We will see how this works out.
Long
by LaiChee81