MyCryptoParadise_Nathan

CAKE: Bullish Momentum Builds with W Pattern Breakout

BINANCE:CAKEUSDT   CAKE / TetherUS
๐Ÿ’Ž CAKE has broken out of a descending channel and formed a W pattern at the FVG and 200 EMA. Additionally, the price has shown CHoCH, indicating an increased probability of a bullish reversal.

๐Ÿ’ŽThe price may exhibit a pullback and find support at the bullish OB level, or it may retest the breakout zone of the W pattern before establishing a bullish structure.

๐Ÿ’ŽIf the price fails to show any bullish candles near the bullish OB level, it would be prudent to avoid trading CAKEUSDT. Furthermore, if the price falls below the last bullish OB level, we can anticipate a bearish movement in CAKE.

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