$CAKE hit a new 24-hour low. The current price is 2.209, with the previous low at 2.2216.
After a new low, three common patterns may follow:
① Bounces back to the previous low, then retreats: the downtrend continues
② Keeps fluctuating around the previous low: turnover, direction still unclear
③ Quickly recovers above the previous low and holds: a bear trap
It is still below the previous low for now. Watch to see whether it follows ① or ②.
#CAKE
After a new low, three common patterns may follow:
① Bounces back to the previous low, then retreats: the downtrend continues
② Keeps fluctuating around the previous low: turnover, direction still unclear
③ Quickly recovers above the previous low and holds: a bear trap
It is still below the previous low for now. Watch to see whether it follows ① or ②.
#CAKE