BULLISH $CAKE
1-Hour Timeframe
This coin is currently in a small range box on the 1-hour timeframe, and this tight range has reduced its price fluctuation.
This compression indicates that, if the box is broken, price could make a sharp move.
★ Currently, price is at the bottom of this compression and has entered a key support zone.
If the support zone breaks, the downward move for CAKE will resume, so we can open a short position if the level is broken.
However, if price finds support at this level and moves upward, we can open a long position once 2.785 is broken.
* Both triggers for long and short are highly risky. For more reliable triggers, for a long position, we should wait for the break of 3.017, and for a short, we would look for a lower high and low below the support zone.
