[Watch it] descending channel breakout: possible cup & handle ?

CAKE broke its consolidation channel and is now looking for a further test of resistance.
With a supportive Bitcoin it may achieve a Cup & handle.

تعليق:

Keep an eye on support and volume.
Don't take any risks under support as a H&S scenario may form there.

تعليق:

Watch Bitcoin.

تعليق:

Here is cake:

تعليق:

Basically that's the cup and handle hyphothesis i mentioned in the OP:

It's trying tro breakout now.
It needs some volume and (especially) a collaborative Bitcoin.

If Bitcoin sinks any altcoin upward movement may be hindered.
This is a game you play on two tables.

تعليق:

Nearing the (orange) target box across 1.618.

More than +40% since OP.
Nice.

أغلقت الصفقة: تم الوصول للهدف:

Target achieved a couple days earlier than expected ( see the eorange box in the opening post ).

As usual from here onwards it's up to you.

Enough for the point of this analysis, closing.