CAKE/BNB LP on 4H timeframe
After breaking the first trendline, a double bottom was formed and a sign of a strong resistance point with 3 touches. After bouncing back up we saw a retracement when hitting the trendline and created another resistance point. Then I saw a new trend line forming when it got back down to the resistance level. When it bounced I decided...
We see bullish price action with consistent higher-highs and lower-lows. That's why we will be looking for a long setup. Does this mean we can immediately include BNB in a trade or our portfolio? No, is the answer to this question. Buying here is like trying to jump on a moving train. The best possible thing we can do here is trying to find a good and safe entry...
