CAKE / TetherUSShort
CAKE/USDT 4h simple analysis in 8th/Jun
Hi, crypto traders.
CAKE is in a downtrend now.
Unfortunately, the price suddenly started to go down and broke all MA lines to the lower side. After reaching 15.63USD, the price bounced a little bit, but it seems the candle goes down again.
If the candle keeps under 20h (red) line, the trend is a downtrend. Conversely, if the price goes up, the 1st target will be the cross-point with 80h (blue) line and 240h (green) line.
Because the trend is a downtrend, we shouldn't buy CAKE in this market.
==TODAY’s Check Points==
- The candle changes positively, then breaks 80h (blue) line and 240h (green) line?
- The candle continues to go down and breaks 14.90USD?
==TODAY’s Target Price==
CAKE goes up:
1st target: Cross-point with 80h line and 240h line
2nd target: 21.53USD (the last highest price)
3rd target: 22.50USD (the highest price in 20th/May)
CAKE goes down:
1st target: 14.90USD (the last lowest price)
2nd target: 13.81USD (the lowest price in 30th/May)
3rd target: 9.32USD (the lowest price in 16th/Mar)
Enjoy your trading.
CAKE is in a downtrend now.
Unfortunately, the price suddenly started to go down and broke all MA lines to the lower side. After reaching 15.63USD, the price bounced a little bit, but it seems the candle goes down again.
If the candle keeps under 20h (red) line, the trend is a downtrend. Conversely, if the price goes up, the 1st target will be the cross-point with 80h (blue) line and 240h (green) line.
Because the trend is a downtrend, we shouldn't buy CAKE in this market.
==TODAY’s Check Points==
- The candle changes positively, then breaks 80h (blue) line and 240h (green) line?
- The candle continues to go down and breaks 14.90USD?
==TODAY’s Target Price==
CAKE goes up:
1st target: Cross-point with 80h line and 240h line
2nd target: 21.53USD (the last highest price)
3rd target: 22.50USD (the highest price in 20th/May)
CAKE goes down:
1st target: 14.90USD (the last lowest price)
2nd target: 13.81USD (the lowest price in 30th/May)
3rd target: 9.32USD (the lowest price in 16th/Mar)
Enjoy your trading.
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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.
Related publications
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.