Looks like Cake/BUSD is breaking out of its descending triangle as it has formed a nice ascending triangle out of the previous trend. The blue entries are where I've bought in.
Now, assuming China doesn't publish another article about banning crypto, I could easily see this hitting $15, and then retesting previous support/resistance regions.
Take what I say...
Looks like there's a bit of a bear flag forming on the 1H candles. Of course I hope I'm wrong and we keep moving upward, but if this is a true bear flag, expect a correction at most down to Cake's major support line, after which we should be hopping right back on the gain train!
🚂🚂🚂
Also, with the Auto-compounding pools coming out soon, this news should help...
ICO has been in a beautiful trend reversal since Dec 2020 (start of Fib Fan), and has been following the Fib Fan quite nicely upward. I see one of two things occurring in the coming weeks/months:
1. a continuation of the current trend upward, following the fib fan
2. a correction resulting in a Bull Flag, thus also continuing along the current trend
I've been bag...
Good chance we see $17 by next week. Second line of Elliot wave could be off as this was just a huge pump, but if we see a correction tomorrow (Feb 12), then we should see this bad boy rise up to around $17. We've got resistance around the mid $16 range, and support along the 0.618 fib line. Either we touch this support line, and see our third Elliot wave line...
