POSSIBLE BREAKOUT , REVERSAL UPTREND ?

٢٨ مارس ٢٠٢٢

Hello everyone 😃
Before we start to discuss, I would be glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it !

- CAKE is on the verge of breakout on the channel's high.
Currently it's moving on the 1D time frame chart into a descending channel and after the break-out, It'll be able to climb up to the higher S/R 9.4$ - 10.5$ - 12.80$ respectively.

- But it's better to wait for a proper hold above 9.0$ to take Long on it, meanwhile we can notice the spike in volume where buyers pushed the price upper protecting level of support 5.3$ as i suggest that buyers are shifting their money
into CAKE making it likely that the existing trend is about to reverse direction after the sellers have failed to make a new lower low.

- Be aware that we have the possibility of reversal on BTC at $49500's resistance.


Hope you enjoyed the content I created,

Have a good day Traders!

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