BAKE/USDT Break the descending channel pattern. Continue Upward?

💎 BAKE has been a key point of interest in the market, especially after breaking out of a descending channel pattern.

💎 Currently, BAKE is in a retesting phase at the trendline. A positive bounce here probability could indicate readiness for an upward move, with a high chance of reaching our targeted strong resistance area.

💎 However, if BAKE cannot maintain its position above the support trendline, it may confirm a false breakout, leading to a downward trend back toward the bullish support trendline area. This point is critical, as a failure to hold the bullish trendline could signify a shift to a bearish trend, pushing BAKE down to the demand area around $0.117.

💎 At the $0.117 demand area, it’s crucial for BAKE to make a strong recovery and reclaim its position above the bullish trendline. If it fails to do so, BAKE might continue its bearish trajectory, potentially breaking down below the demand level. In such a scenario, BAKE could be headed back towards a stronger demand zone.

Trade closed: target reached:

Spot on again! #BAKE has climbed 23.68%!