HanuX
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$CAKE DEEP-IN CHART ANALYSIS
1. Trend & Price Action
Current Price: $2.618 (up +8.62%) — strong bullish momentum.
Higher Highs & Higher Lows: Indicate a trend reversal and a confirmed uptrend.
Recent breakout above prior horizontal resistance around $2.55, which had acted as a ceiling in multiple past attempts (see flat green lines).
2. Chart Patterns
Inverse Head and Shoulders (H-H-L) Pattern:
Marked “H” and “L” indicate a potential inverse H&S formation (bullish reversal pattern).
The neckline has been broken to the upside, confirming bullish continuation.
3. Key Levels
Resistance Zones:
$2.70 – $2.75: Next major resistance level.
$2.632: Immediate resistance and sell wall.
Support Zones:
$2.398: Strong recent support — price bounced from here.
$2.20: Longer-term structural support with multiple tests.
$2.00 – $2.10: Historical demand zone.
4. Moving Averages
Green Line (likely 50 EMA): Price is above the EMA, confirming trend support.
Red Line (possibly 20 EMA): Also trending upward, providing near-term dynamic support.
5. Trendlines
Rising support trendline (light green diagonal line) is intact — price is respecting it well.
Upward breakout from ascending triangle formation or channel — bullish signal.
6. Volume & Momentum
Sharp upward candles with strong body length — buying pressure dominates.
Peak Profit $2836.26: Indicates maximum gain from a position, aligning with the breakout move.
7. Heikin Ashi Candles
Majority of recent candles are green with no bottom wicks — this shows a strong bullish trend with low selling pressure.
Conclusion & Strategy
Bullish bias is clearly dominant:
If holding a long: consider trailing stop just below $2.55 or $2.40 to lock in profit.
If looking to enter: watch for pullback and retest of $2.55–$2.60 for a better risk/reward.
Avoid shorting until strong bearish confirmation appears (e.g., engulfing red candles, breakdown of $2.40 support).
Trade $CAKE
1. Trend & Price Action
Current Price: $2.618 (up +8.62%) — strong bullish momentum.
Higher Highs & Higher Lows: Indicate a trend reversal and a confirmed uptrend.
Recent breakout above prior horizontal resistance around $2.55, which had acted as a ceiling in multiple past attempts (see flat green lines).
2. Chart Patterns
Inverse Head and Shoulders (H-H-L) Pattern:
Marked “H” and “L” indicate a potential inverse H&S formation (bullish reversal pattern).
The neckline has been broken to the upside, confirming bullish continuation.
3. Key Levels
Resistance Zones:
$2.70 – $2.75: Next major resistance level.
$2.632: Immediate resistance and sell wall.
Support Zones:
$2.398: Strong recent support — price bounced from here.
$2.20: Longer-term structural support with multiple tests.
$2.00 – $2.10: Historical demand zone.
4. Moving Averages
Green Line (likely 50 EMA): Price is above the EMA, confirming trend support.
Red Line (possibly 20 EMA): Also trending upward, providing near-term dynamic support.
5. Trendlines
Rising support trendline (light green diagonal line) is intact — price is respecting it well.
Upward breakout from ascending triangle formation or channel — bullish signal.
6. Volume & Momentum
Sharp upward candles with strong body length — buying pressure dominates.
Peak Profit $2836.26: Indicates maximum gain from a position, aligning with the breakout move.
7. Heikin Ashi Candles
Majority of recent candles are green with no bottom wicks — this shows a strong bullish trend with low selling pressure.
Conclusion & Strategy
Bullish bias is clearly dominant:
If holding a long: consider trailing stop just below $2.55 or $2.40 to lock in profit.
If looking to enter: watch for pullback and retest of $2.55–$2.60 for a better risk/reward.
Avoid shorting until strong bearish confirmation appears (e.g., engulfing red candles, breakdown of $2.40 support).
Trade $CAKE
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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