Bullish Flag pattern ?!idk why but i think cake made a bullish flag pattern i think these scenarios can happen to cake !
Cakusdt
CAKEUSDTHi everyone,
This is my description:
Blue Lines: Resistance (Target for sell)
Orange Lines: Support (Step for buy)
Pink Rectangles: PRZ
Thanks for your attention.
CAKE/BSUD - Ascending channel facing resistance! $42 next?Cake is just under a major resistance at $29 trying to push through, however so far we have failed.
The indicators appear to be bullish with a MACD cross on the positive side and RSI + Volume wanting to move higher. So bias is slightly bullish on this price action.
However, so long this resistance holds us, we won't have a rally. As such, it is important to not break this ascending channel, otherwise a retest of the $21 support line is likely which will then hopefully push us higher again.
Possible paths are on the chart.
Bias remains bullish for now.
CAKE Long entry on S/R flipCake approaching support. It could be a good entry if you are not in.
Use SL and never risk more than 2/3% of your total equity.
