CAKE/USDT 4h simple analysis in 7th/Jun

Hi, crypto traders.

CAKE is in a Great Uptrend.

The price started to go up, then already broke 20h (red) line and 80h (blue) line to the upper side. Because the sequential order is the candle > 20h (red) line > 80h (blue) line > 240h (green) line, the trend is a Great Uptrend.

However, since MA lines are close, the trend can change easily. If the price goes down and breaks all MA lines to the lower side, the trend will be a downtrend.

We should watch the price will break my 1st target: 21.53USD or not today.


==TODAY’s Check Points==
- The candle continues to go up and breaks 21.53USD?
- The candle changes negatively, then breaks all MA lines to the lower side?

==TODAY’s Target Price==
CAKE goes up:
1st target: 21.53USD (the last highest price)
2nd target: 22.50USD (the highest price in 20th/May)
3rd target: 29.07USD (the highest price in 18th/May)

CAKE goes down:
1st target: Cross-point with MA lines
2nd target: 14.90USD (the last lowest price)
3rd target: 13.81USD (the lowest price in 30th/May)


Enjoy your trading.