CAKE/USDT 4h simple analysis in 12th/Jun

Hi, crypto traders.

CAKE is in a sideways market now.

The price continued to go down and reached close to my 1st target: 14.90USD. After that, the candle changed positively and already broke 20h (red) line to the upper side.

Since the sequential order of MA lines is 240h (green) line > 80h (blue) line > 20h (red) line, if the candle goes down and breaks 20h (red) line to the lower side, the trend will be a downtrend. And this point will be a short entry point.

Conversely, if the price goes up, the 1st target is the cross-point with 80h (blue) line.


==TODAY’s Check Points==
- The candle continues to go up and breaks 80h (blue) line clearly?
- The candle changes negatively and breaks 14.90USD?

==TODAY’s Target Price==
CAKE goes up:
1st target: Cross-point with 80h line
2nd target: Cross-point with 240h line
3rd target: 21.53USD (the last highest price)

CAKE goes down:
1st target: 14.90USD (the last lowest price)
2nd target: 13.81USD (the lowest price in 30th/May)
3rd target: 9.32USD (the lowest price in 16th/Mar)


Enjoy your trading.