CAKEUSDTEverybody wants to kill me because Cake price fell hard. Many throwing in the towel at the worst possible moment.
However, what I see is a big Bull Flag Pattern, which should lead to higher prices when it finally breaks to the upside. To do that, we need to go above $19 USDT. If we do, the minimum price target would be $34 USDT. A target that I expect will be meet before year end.
freeonlinetradingeducation.com/bull-flag.html
Critical support would be $14 USDT.
We had increased volume in the last 3 days, which is good, as it could signal the final liquidation and price bottom.
Also, the RSI indicator is deeply oversold, which could also signal a bottom.
I hope you find this interesting and good luck to you
Note
Some are saying that we are tracing a huge Triangle Pattern on CAKEUSD. If that is the case, it would look something like this, already 280 days in progress. And if it broke to the upside, with a move above $21 USD, the price target would be somewhere around $100 and $200 USD.Note
CAKE burn coming, just what we needed, excellent news.twitter.com/PancakeSwap/status/1465172384504156160
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.