Cake kept its position strong in both Bitcoin dumps. That shows buyers are on the table and people have diamond hands who holds CAKE.
I'm a CAKE holder since the price was 0.6 USD and I can say it was a hard road with all those bumpy up and downs but now we can see the price is keeping strong and wants to go up, that's because BSC gives opportunity of paying less transaction fees while using DEX platforms instead of Ethereum with high fees.
If Ethereum's high fees and the bull market continues, I believe BSC projects and especially CAKE will perform better than any other DeFi products ( maybe Solana ecosystem and upcoming Huobi ecosystem may perform better because BSC ecosystem has been in a rally for too long).
We can see both falling wedge and reverse head and shoulders formations are targeting nearly 33 USD.
If you wanna trade this formation, I would wait until it breaks 28 USD and stays above it which is 1 level of fibonacci and a great resistance area, but CAKE loves fast and big moves so if there is a fast move and you couldn't get a position from a safe entry, don't be upset and FOMO because CAKE loves punishing people who tries to catch the train after it starts to move.
NOT FINANCIAL ADVICE, CALCULATE YOUR RISKS BEFORE MAKING AN INVESTMENT OR TRADING IN CRYPTO !
I'm a CAKE holder since the price was 0.6 USD and I can say it was a hard road with all those bumpy up and downs but now we can see the price is keeping strong and wants to go up, that's because BSC gives opportunity of paying less transaction fees while using DEX platforms instead of Ethereum with high fees.
If Ethereum's high fees and the bull market continues, I believe BSC projects and especially CAKE will perform better than any other DeFi products ( maybe Solana ecosystem and upcoming Huobi ecosystem may perform better because BSC ecosystem has been in a rally for too long).
We can see both falling wedge and reverse head and shoulders formations are targeting nearly 33 USD.
If you wanna trade this formation, I would wait until it breaks 28 USD and stays above it which is 1 level of fibonacci and a great resistance area, but CAKE loves fast and big moves so if there is a fast move and you couldn't get a position from a safe entry, don't be upset and FOMO because CAKE loves punishing people who tries to catch the train after it starts to move.
NOT FINANCIAL ADVICE, CALCULATE YOUR RISKS BEFORE MAKING AN INVESTMENT OR TRADING IN CRYPTO !
Trade fechado: objetivo atingido:
Target is acquired.
Hedefe erişildi.
Hedefe erişildi.