Is $CAKE bouncing to resistance within a downtrend? Here's the setup
$CAKE CONTINUATION — 📉 SHORT
Here's what the data shows:
• Price: 1.4391 (24H Range: 1.4010–1.4521)
• RSI(14): 67.3 — Near Overbought
• EMA20: $1.4278 | EMA50: $1.4177 ⚠️ Above EMA50
• Volume: $4.66M
📉 If yes, here's the plan:
📉 Entry: 1.4309 – 1.4452
🛑 Stop: 1.5175
🎯 TP1: 1.2993
🎯 TP2: 1.2072
🎯 TP3: 1.0889
Control your downside, the upside takes care of itself.
No reason to be long CAKE at this stage of the cycle.
The CAKE bear trend is the dominant force.
$CAKE