The key is whether it can rise above 3.086
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(CAKEUSDT 1W chart)
For the uptrend to begin, the price must rise above 5.750 and hold.
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(1D Chart)
The key is whether the price can maintain support around 2.465-2.740 and rise above 3.086.
If the price holds above 3.086, a stepwise upward trend is highly likely.
At this point, the key point to watch is whether it can rise above 4.217.
If it finds support around 2.465-2.740 and rises, a medium- to long-term uptrend is likely, so you can develop a trading strategy based on this.
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If it falls below 2.465, it could fall below 1.860, so you should stop trading and wait and see how things go.
The strong support area is 1.191-1.593, so if it finds support around this area, it would be a good time to buy.
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Thank you for reading.
I wish you successful trading.
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- Here's an explanation of the big picture.
(3-year bull market, 1-year bear market pattern)
I'll explain more in detail when the bear market begins.
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