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CAKE / TetherUS PERPETUAL CONTRACT

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CAKEUSDT.P trade ideas

CAKE/USDT : Break above the trendline, important CME gap on BTC!BINANCE:CAKEUSDT | CME:BTCX2021 Hello everyone 😃 Before we start to discuss, I would be glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it ! #CAKE has broke above the bearish trendline and the lower support zone has showed a stiff support. MACD is gaining bullish momentum on histogram and it looks like that we'll face a bullish continuation after a retest on broken level ! The higher resistances will be : - $21.06 - $22.85 - $25.88 - $31.50 - $38.30 The lower support zone can be used as 2nd entry if we saw any developing candle on it and the SL can be placed below it... 🔴 Based on higher data, The invalidation of the bullish bias will be a hold confirmation below the zone ! 📌 Huge gap formed at ~61000$ FYI: ±90% of CME gaps are filled sooner or later. Keep this in mind. We hope it won't be filled 🙂 Hope you enjoyed the content I created, You can support us with your likes and comments ! Attention: this isn't financial advice we are just trying to help people on their own vision. Have a good day! @Helical_Trades
Long
by Helical_Trades
27
CAKEUSDT UpdateCake is getting ready for next big rally. Keep and eye and build your position before its too late. Still not a bad time to accumulate your position. If you are not feeling comfortable then you can wait for the rectangular region breakout and enter on retest as explained in the chart. I am not seeing any major resistance after $25 so expecting fireworks once it reclaims $23-$25 zone and convert it into support. Disclaimer: Not a financial advise. Do your own research also before investing. Good luck and happy trading!
Long
by kazimusman
2