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Cakeanalysis

CAKE: Bulls on the Rise! Potential Breakout Ahead 💎Cake has recently broken out of a resistive trendline and is currently forming an inverse head and shoulders pattern, indicating an increased likelihood of a bullish move. 💎If CAKEUSDT manages to break above the resistant zone, we can anticipate a bullish movement towards the next resistance levels. In the case of a pullback, we might expect a bounce from the bullish OB, which also serves as a demand area. 💎However, if CAKE shows signs of panic selling and breaks down below the demand area, it would be prudent to wait for better price action to form before considering any further actions.
by MyCryptoParadise_Nathan
CAKE: Bullish Momentum Builds with W Pattern Breakout💎 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. 💎The 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. 💎If 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.
by MyCryptoParadise_Nathan
Technical Analysis of PancakeSwap 'CAKE USDT' in a 4 hour TF 'CAKE' USDT is making an Ascending Pattern in a 4 Hour TF. Yellow line is the Trendline Resistance, and for Cake to go Bullish it needs to give a breakout past this line. Next Resistance zone is marked in Grey at 26 Support zone is at 16.80 - 17.80, if there is a pullback, it needs to Hold the price at this range, or else Support would be broken, and we might see a correction, with next support at 15. U can also hold this coin in spot Trade for a short term.
by SuddenBananaaa