CAKE/BNB shows us that it has peaked near the .17 mark, and has started consolidating. However, as the lows are now staying in the same area, and the highs continue to grow shorter and shorter, it has formed a very short term bearish triangle, or descending triangle.
While BNB/ETH shows us that it took a break and is now going to potentially start back up, it may be a good idea to get out of cake and see how this pattern plays out, or to wait until the pattern breaks to decide. If you do have BNB then this is something you will just want to wait for to see if its smart to get cake at a lower price.
Overall CAKE is LONG on BNB, and BNB is LONG on ETH, however - I said I would exit my BSC positions in March, and this is my last chance to do so without lying.. I think there is more opportunity coming on other chains, and there will be some rug pulls that could make this look scammy, as always. I was hoping to hit at least .2 ETH per BNB, but I am still up quite a bit.
For everyone else, have fun trading, there is nothing wrong with BNB, I just came over as a speculator in December/January and agreed it would be short term.
While BNB/ETH shows us that it took a break and is now going to potentially start back up, it may be a good idea to get out of cake and see how this pattern plays out, or to wait until the pattern breaks to decide. If you do have BNB then this is something you will just want to wait for to see if its smart to get cake at a lower price.
Overall CAKE is LONG on BNB, and BNB is LONG on ETH, however - I said I would exit my BSC positions in March, and this is my last chance to do so without lying.. I think there is more opportunity coming on other chains, and there will be some rug pulls that could make this look scammy, as always. I was hoping to hit at least .2 ETH per BNB, but I am still up quite a bit.
For everyone else, have fun trading, there is nothing wrong with BNB, I just came over as a speculator in December/January and agreed it would be short term.
Trade closed: target reached:
Target Hit