Time to get fat on some $CAKE

CAKEUSDT I've been holding a small bag of $CAKE on pancake swap while it has been consolidating. It looks like it might finally be following in $BNB's footsteps. BNB has been soaring the past few weeks and it may finally be time for it's dAPPs to follow suit. I am adding more CAKE to my pancake swap bag to gain the extra 70% APY while this swing trade develops. We have basically seen CAKE consolidate for the past 70 days, let's see if it can gain any momentum.

Entry: $20
Resistance: $21-21.50, if we can push over these lvls it can start to run again.
Plan: swing CAKE with PT's beginning around $24.30ish with hopes of seeing momentum to blow past $30.
SL: would start to cut losses if we dip below $19 again, I have been staking for a while so I can afford to hold longer. I will scale out at support levels below $19 looking for first exit if we drop below $18.50 just to be conservative.

Comment:

Still chopping underneath the resistance area. $20.20 lvl is going to be tough to break through. It will need more volume.

Comment:

Big crypto market dump with BTC leading the way. I've been actively watching the charts. I haven't liquidated CAKE yet and just actively watching the charts. under $17 can fall off quickly. Back above $18 rn.
I'm currently using CAKE in a different Defi yield farming app and not too worried right now but if bearish move continues I will sell.

Trade closed: stop reached:

CAKE tried! but ultimately no real momentum even with BTC hanging around upper 50's. The DEX coins are tough when there is no real driver for long term upward momentum. But, closed trade at $19, $18.50, and $18.