#Cake Ready for a Big Move? Bullish Breakout Incoming!🔹 Market Structure & Trend
#Cake is currently in a strong uptrend, forming higher highs (HHs) and higher lows (HLs). This is a classic sign of bullish momentum.
🔹 Key Breakout Zone
We are watching the resistance level: 2.950, which aligns with previous HHs. A breakout above this level could trigger another strong rally.
🔹 Trade Plan & Entry Strategy
Breakout Entry: Above 2.950 with confirmation
Stop Loss: Below recent HL for proper risk management
Targets: First TP at 3.220, extended TP at 3.416
🔹 Indicators & Confirmation
RSI: Above 50, indicating bullish strength
Volume: Increasing, signaling strong participation
Moving Averages: Aligning for an uptrend
What’s Your Take?
Do you think #Cake will break out or face resistance? Drop your analysis in the comments!