$CAKE
《Increased Volatility — Cake Price Update》
This morning, Cake experienced significant volatility alongside Bitcoin, rising to around 2.85 and dropping to around 2.3. The battle between bulls and bears is exceptionally fierce, and we entered the market by adding positions around 2.6, with a reduction position near 2.9.
During this period of volatility, the time was short. Some friends reduced their positions, while others missed the opportunity to check and hence missed the chance to reduce their positions. Those who haven't reduced their positions need not worry; the upward trend is still intact, and positions can be reduced around 2.87.
Bitcoin broke through the resistance near 97200 this morning, but whether it can hold requires further observation. If it stabilizes at this level, we can quickly see Bitcoin above 10 again, and the trend is upward.
Ethereum is similar, having followed Bitcoin to break through the resistance near 2730. Whether it can hold also needs to be watched. Once Bitcoin surpasses the 100,000 mark, Ethereum can look towards 3000 and above.
LTC has already applied for an ETF with the SEC. Once approved, there will be a nice rally, so it is worth paying attention to. Currently, both Bitcoin and Ethereum are at key resistance positions, so entering the market recklessly is not advisable; patience is required to wait for the right entry point.