Get started

Cakeusdtshort

#CAKE/USDT#CAKE The price is moving within a descending channel on the 1-hour frame, adhering well to it, and is heading towards a strong breakout and retest. We are experiencing a rebound from the lower boundary of the descending channel, which is support at 2.35. We are experiencing a downtrend on the RSI indicator that is about to break and retest, supporting the upward trend. We are heading towards stability above the 100 Moving Average. Entry price: 2.38 First target: 2.41 Second target: 2.45 Third target: 2.50
Long
by CryptoAnalystSignal
#CAKEUSDT – Bearish Scenario, Expecting a Breakdown📉 SHORT BYBIT:CAKEUSDT.P from $2.030 🛡 Stop Loss: $2.058 ⏱ 1H Timeframe ⚡ Trade Plan: ✅ The BYBIT:CAKEUSDT.P price previously formed a Falling Wedge pattern and three bottoms (Bottom 1, Bottom 2, Bottom 3), followed by a bounce. ✅ However, the asset is trading below POC (Point of Control) at $2.504, which acts as strong resistance. If the price fails to hold above the current levels, a downward continuation is likely. 🎯 TP Targets: 💎 TP 1: $2.008 🔥 TP 2: $1.986 ⚡ TP 3: $1.970 📢 A close below $2.030 would confirm further downside movement. 📢 POC at $2.504 is a key volume area acting as resistance. 📢 Increasing volume on the decline signals strong seller activity. 📢 Taking partial profits at TP1 ($2.008) is a smart risk-management strategy. 🚨 BYBIT:CAKEUSDT.P remains under selling pressure – monitoring for confirmation and securing profits at TP levels!
Short
by MoriartyTrading