ANALYSIS 🔎
- CAKEBUSD is on a mid-term uptrend supported by the ascending trendline support.
- The market hit an all time high (ATH) and retraced.
- Price is retesting the flip horizontal support, the ascending trendline support and the key fibonacci retracement zone (0.5 - 0.618 - 0.786).
- There's a relatively high concentration of buyers at this zone.
- The retracement is resisted by the descending trendline resistance.
- Breakout above this descending trendline resistance could be an uptrend continuation signal.
BUY ENTRY ⬆️
- Aggressive entry : the key fibonacci retracement zone .
- Conservative entry : breakout above the descending trendline resistance.
TARGETS 🎯
- All time high (ATH) resistance.
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Breakdown below the ascending trendline support and 0.786 fibonacci retracement level.
- CAKEBUSD is on a mid-term uptrend supported by the ascending trendline support.
- The market hit an all time high (ATH) and retraced.
- Price is retesting the flip horizontal support, the ascending trendline support and the key fibonacci retracement zone (0.5 - 0.618 - 0.786).
- There's a relatively high concentration of buyers at this zone.
- The retracement is resisted by the descending trendline resistance.
- Breakout above this descending trendline resistance could be an uptrend continuation signal.
BUY ENTRY ⬆️
- Aggressive entry : the key fibonacci retracement zone .
- Conservative entry : breakout above the descending trendline resistance.
TARGETS 🎯
- All time high (ATH) resistance.
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Breakdown below the ascending trendline support and 0.786 fibonacci retracement level.