🔥 CAKE Is Done Dumping? Amazing Risk-Reward Bounce Play
Over the last few months I've made several CAKE analyses where I discussed the massive dump that this token was experiencing.
Like mentioned before, I think that CAKE as an asset is dead, but that doesn't mean it can't offer good trading opportunities.
This trade is based on the assumption that CAKE will reverse sharply after the crazy April & May dump. I'm fairly certain that CAKE will never see a new all-time high again, but a 2x from here is certainly in the cards, especially with a bullish Bitcoin.
I'm waiting for CAKE to close above the most recent high of 1.67, stop below the swing lows and a target of 3.50, roughly where the dump started.
Like mentioned before, I think that CAKE as an asset is dead, but that doesn't mean it can't offer good trading opportunities.
This trade is based on the assumption that CAKE will reverse sharply after the crazy April & May dump. I'm fairly certain that CAKE will never see a new all-time high again, but a 2x from here is certainly in the cards, especially with a bullish Bitcoin.
I'm waiting for CAKE to close above the most recent high of 1.67, stop below the swing lows and a target of 3.50, roughly where the dump started.
🎯Official Channel: t.me/FieryTradingChannel
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
Publicações relacionadas
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.