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.
💎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.
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