CAKE/USDT | Rising Wedge ⇒ Bearish Reversal
Following my previous CAKE prediction—which delivered a +30% gain—the pair now looks poised to turn bearish again.

📈 Market Structure
Pattern: Rising wedge from April lows, with price compressing into higher highs and higher lows under converging blue trend-lines.
Implication: Wedges often break down as bullish momentum fades into the apex.
🎯 Supply / Short Zone
Zone: 2.257 – 2.380 USDT (blue–purple shaded area)
Lower edge aligns with the upper wedge trend-line.
Upper edge marks April’s horizontal resistance.
⚔️ Short Entry Strategies
Aggressive: Short on the initial test of 2.257–2.380 USDT with a bearish rejection signal.
Conservative: Wait for a confirmed reversal pattern near the zone.
🛑 Stop Loss
Level: Above wedge resistance at 2.45 USDT—allows for a false breakout while limiting risk.
🎯 Profit Targets
TP1: 2.135 USDT
TP2: 2.010 USDT
TP3: 1.840 USDT
🔧 Trade Management
Scale out partial positions at each TP to lock in gains.
Move stop to breakeven once TP1 is hit.
If price closes above 2.45 USDT, invalidate the setup and reassess.
Following my previous CAKE prediction—which delivered a +30% gain—the pair now looks poised to turn bearish again.

📈 Market Structure
Pattern: Rising wedge from April lows, with price compressing into higher highs and higher lows under converging blue trend-lines.
Implication: Wedges often break down as bullish momentum fades into the apex.
🎯 Supply / Short Zone
Zone: 2.257 – 2.380 USDT (blue–purple shaded area)
Lower edge aligns with the upper wedge trend-line.
Upper edge marks April’s horizontal resistance.
⚔️ Short Entry Strategies
Aggressive: Short on the initial test of 2.257–2.380 USDT with a bearish rejection signal.
Conservative: Wait for a confirmed reversal pattern near the zone.
🛑 Stop Loss
Level: Above wedge resistance at 2.45 USDT—allows for a false breakout while limiting risk.
🎯 Profit Targets
TP1: 2.135 USDT
TP2: 2.010 USDT
TP3: 1.840 USDT
🔧 Trade Management
Scale out partial positions at each TP to lock in gains.
Move stop to breakeven once TP1 is hit.
If price closes above 2.45 USDT, invalidate the setup and reassess.
Telegram: t.me/Crypto_Sheykh
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.
Telegram: t.me/Crypto_Sheykh
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.