CAKE SWING LONG IDEA
I know everyone is fearful in the crypto market right now.
People are scared to buy at these lows because they believe Bitcoin will likely continue to decline. And yes, that could happen. But guess what?
All these factors tell me it’s the perfect time to open swing long positions while everyone else is panicking and selling their coins at the lows.
Let’s look CAKE as an example:
Cake has currently hit the monthly and weekly demand zones. It has rejected the weekly demand and broken the 4H structure.
We’ve seen strong upside movement following this, confirming the second leg of the higher high formation on the 4H timeframe.
TARGETS:
TP1: $3.41
TP2: $4.02
TP3: $4.50
SL: Below $2.05 (daily close)
People are scared to buy at these lows because they believe Bitcoin will likely continue to decline. And yes, that could happen. But guess what?
- BTC is sitting on daily support.
- BTC dominance hit 60% and is possibly forming lower highs (check my BTC DOM analysis).
- The Fear Index is at 54—people are scared.
- Funding rates are extremely negative.
- Most assets' RSI levels are oversold (in a bull market!).
- All these factors tell me it’s the perfect time to open swing long positions while everyone else is panicking and selling their coins at the lows.
All these factors tell me it’s the perfect time to open swing long positions while everyone else is panicking and selling their coins at the lows.
Let’s look CAKE as an example:
Cake has currently hit the monthly and weekly demand zones. It has rejected the weekly demand and broken the 4H structure.
We’ve seen strong upside movement following this, confirming the second leg of the higher high formation on the 4H timeframe.
TARGETS:
TP1: $3.41
TP2: $4.02
TP3: $4.50
SL: Below $2.05 (daily close)
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