The CAKEUSDT pair came out of 178 days of long accumulation in the zone of 1.04$ to 1.6$.
it finished its first wave of price surge and getting the healthy retracement which has gone deeper into the fib levels. Thus, creating a very healthy low risk and high reward setup.
on daily there is a small bearish divergence that is being played right now and soon it will be over.
entry:
2.9 - 2.5 $ zone
the targets for the coin are:
1. 5.5 2. 9.5
long term:
3. 18 4. 28 5. 36 6. 45 7. 60
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might take some time in this triangle before breaking out to actual up move.
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instead of a triangle, now the PA is forming and ascending wedge.