PancakeSwap (CAKE/USDT) technical analysis

Price was moving in a steep downtrend channel; Now, the price has broken the channel and it looks like it's ready to change the direction to an uptrend. Although, the price might test the long horizontal resistance line one more time; be ready. If the uptrend wave starts, the first and second targets are the bottom and the upper side of the triangle, respectively. After that, the projection of the price target will be an area around the thick uptrend line.