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Alikze »» CAKE | Bullish Wave 3 or C Scenario - 1W
🔍 Technical analysis: Bullish Wave 3 or C Scenario - 1W
📣CAKEUSDT In the long-term analysis mentioned earlier, after a zigzag correction to the $1 area, a reversal pattern (inverted head and shoulders pattern) has formed.
🟢 In accordance with the previous analysis, the target was touched.
🟢 But currently, on the weekly time frame, in continuation of the previous analysis, it is in the supply range.
🟢 Two possible behavioral scenarios can continue.
💎First scenario: This upward movement can extend to the previous minor ceiling and, after a correction to the broken supply range, continue to the next supply area.
💎Second scenario: If the current supply area cannot be broken (the current supply area is not used up), it can continue the upward path by breaking the supply area of the current range to the $5 area with a pullback to the broken swing.
⚠️In addition, in both possible bullish scenarios predicted, the price should not enter the LVL validation range. If a price correction occurs and the price touches the aforementioned area, the bullish scenario is invalidated and should be re-examined and updated.⚠️
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📣
CAKEUSDT In the long-term analysis mentioned earlier, after a zigzag correction to the $1 area, a reversal pattern (inverted head and shoulders pattern) has formed.🟢 In accordance with the previous analysis, the target was touched.
🟢 But currently, on the weekly time frame, in continuation of the previous analysis, it is in the supply range.
🟢 Two possible behavioral scenarios can continue.
💎First scenario: This upward movement can extend to the previous minor ceiling and, after a correction to the broken supply range, continue to the next supply area.
💎Second scenario: If the current supply area cannot be broken (the current supply area is not used up), it can continue the upward path by breaking the supply area of the current range to the $5 area with a pullback to the broken swing.
⚠️In addition, in both possible bullish scenarios predicted, the price should not enter the LVL validation range. If a price correction occurs and the price touches the aforementioned area, the bullish scenario is invalidated and should be re-examined and updated.⚠️
»»»«««»»»«««»»»«««
Please support this idea 💡 with a LIKE 👍 and COMMENT 💬 if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email 📧 in the future.
Thanks for your continued support.🙏
Best Regards,❤️
Alikze.
»»»«««»»»«««»»»«««
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