CAKE - looking for longs

٢٠ أغسطس ٢٠٢١

Here is cake on the 1h timeframe, the reason for us being interested in this coin is that we have a daily uptrend which we have identified, it also looks like now we are about to see exhaustion to that trend and also a 4h level of buy pressure that will send price to the upside. For this trade to be valid we need to see full and complete exhaustion to this level and the uptrend then wait for entry confirmation which will be a significant pin bar on the 1h or a bullish engulfing candle signalling buyers are coming back in.