BAKEBUSD (BAKE) - POTENTIAL BUY ENTRY
ANALYSIS 🔎
- BAKEBUSD is bounded in a descending channel.
- Price is testing the descending channel support.
- A minor falling wedge pattern is forming in the descending channel.
- A falling wedge pattern is a bullish reversal pattern.
- There's an breakout potential.
BUY ENTRY ⬆️
- Breakout above the falling wedge's resistance and horizontal resistance level (R1).
TARGET 🎯
- Descending channel resistance.
SETUP INVALIDATION ❌
- Breakdown below the falling wedge's support.
- BAKEBUSD is bounded in a descending channel.
- Price is testing the descending channel support.
- A minor falling wedge pattern is forming in the descending channel.
- A falling wedge pattern is a bullish reversal pattern.
- There's an breakout potential.
BUY ENTRY ⬆️
- Breakout above the falling wedge's resistance and horizontal resistance level (R1).
TARGET 🎯
- Descending channel resistance.
SETUP INVALIDATION ❌
- Breakdown below the falling wedge's support.
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