CAKE has huge potential. ⭐
CAKE broke out of the falling wedge with very strong volume. It dind't hit the target yet, but has stabelized very well.
We had 3 points of contact at 13.171 our new resistence. Once we break out of the resistence line with good volume we should see a huge pump to the upside.
Be carefull, we might see a throwback after breaking out of the neckline.
CAKE has crossed the 55 EMA for the first time since its existence when we look at the 2 hour time frame.
When we look at the 4 hour time frame we can see that CAKE crossed the 25 EMA, these indicators are pointing towards a bullish scenario.
TP1: 15.642
TP2: 18.058
My prediction is based on technical analysis , do your own research I am not an experienced trader so don't take this as financial advice.
Any feedback is much appreciated, good luck :)
CAKE broke out of the falling wedge with very strong volume. It dind't hit the target yet, but has stabelized very well.
We had 3 points of contact at 13.171 our new resistence. Once we break out of the resistence line with good volume we should see a huge pump to the upside.
Be carefull, we might see a throwback after breaking out of the neckline.
CAKE has crossed the 55 EMA for the first time since its existence when we look at the 2 hour time frame.
When we look at the 4 hour time frame we can see that CAKE crossed the 25 EMA, these indicators are pointing towards a bullish scenario.
TP1: 15.642
TP2: 18.058
My prediction is based on technical analysis , do your own research I am not an experienced trader so don't take this as financial advice.
Any feedback is much appreciated, good luck :)