$CAKE /USDT MELTING DOWN — BEARS DOMINATE THE CHARTS !!!
No signs of recovery — the dump is real and still unfolding!
Current Price: $2.360
CAKE is down -9.16% and breaking new intraday lows on strong bearish momentum. The 15m chart is printing clear lower highs and lower lows, with weak bounce attempts quickly rejected.
Key Levels:
Resistance: $2.400 / $2.450
Support: $2.358 (24h Low)
Breakdown Zone: $2.360 (currently testing support)
Trade Setup - SHORT Position:
Entry Price: $2.360 - $2.370
Take Profit (TP): $2.320 / $2.280
Stop Loss (SL): $2.410
Outlook:
Momentum is fully bearish as sellers consistently overpower buyers. Price is hugging the support at $2.358, and a breakdown below this zone could lead to another sharp leg down. Weak recovery candles show lack of bullish conviction — this is a sell-the-bounce market!
Risk Management:
Stick to 2-3% max capital per trade. Always set stop-loss and avoid overtrading in high volatility moves.
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