Andy_D

Potential retrace to ~ $15 area, before a move higher ..

BINANCE:CAKEBUSD   CAKE / BUSD
$CAKE broke out of an Adam & Eve double bottom , and is now forming a bullish pennant on lower timeframes (6h and lower, and even somewhat on the daily chart ).

Though volume seems low, and the stochastic RSI is showing potential bearishness.

There's a good probability we break down out of the pennant , for a small correction before moving up towards previous ATH of ~$21.45 and then higher.
Trade active: Don't be surprised if we dip to ~13 as well..

Comments

thank you great analysis
+1 Reply
Andy_D ozgunanne
@ozgunanne, Cheers :)
Reply
Goog analysis Andy. Thanks
+1 Reply
Andy_D MrVolcano
@MrVolcano, Thank you!
Reply
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