Eth/btc formed a good pennant and about to breakup. Target is 0.0116137 according to the pennant formation.
In case of breakup please wait for confirmation before taking a position.
Chart IS LINEAR NOT LOGARITHMIC!
Not an investment advice!
Possible scenario is shown on the chart, UNLESS there's another Elon/China/Tether... etc fud incoming to the market.
I have personally bought some & staking on Trust Wallet right now until it reaches the target.
Cake has been forming a falling wedge since its last all time high versus bitcoin. Although I expect an earlier breakout, I showed the most conservative target on the chart, took the initial point of the breakout from the lowest point of the wedge. Having an RSI divergence strengthens the bullish chart.
Cake looks strong, both fundamentally and technically....
As we brokeout the red resistance we have jumped back into rising wedge, and formed a bullish pennant. BUT the key factor is that we haven't re-tested the red trendline yet. So if you are longing, put your stop according to that trend line. Fib levels shown are possible s/r levels. I am more bullish than bearish atm.
Have a nice day and stay safe.
GO trying to break falling wedge, and it could have done if there wasn’t a market crash based on BTC. I expect a bump from here if daily/weekly candle closes above the support where vpvr and fib 0,236 levels overlap each other. In this scenario I do not expect a serious resistance until that yellow trendline coming from May 2019.