šØ $CAKE /USDT Short Trade Setup (High Risk)
Current Price: $2.46 (+3.74%)
24H High: $2.499
24H Low: $2.360
š Market Insight
CAKE has tested the $2.50 resistance but failed to break convincingly, forming a potential short-term double top around this level. The upside momentum is slowing, making it a candidate for a pullback ā but risk remains due to overall bullish sentiment in the market.
šÆ Short Trade Plan
Entry Zone: $2.47 ā $2.49
Target 1: $2.40
Target 2: $2.35
Stop Loss: $2.51 (above recent high)
ā ļø Risk Note
This is a counter-trend trade. If CAKE breaks $2.51+ with volume, the short invalidates and could lead to a breakout toward $2.55 ā $2.60. Trade with caution.