After observing CAKE, which has not undergone technical analysis for a long time, it currently presents an ideal pattern. The price is approaching the trendline support level, showing signs of stabilization in the short term. From the daily chart perspective, CAKE is in a triangular consolidation pattern, and the current price is retesting the lower band support, providing a good opportunity to get on board. Consider gradually building a position in Spot around the 2.4u price level. As long as the price can stabilize at this position, the next phase may likely see a breakout of the triangle pattern. This is a trading opportunity worth trying, and it is recommended to set a 5% stop loss to control risk.
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After observing CAKE, which has not undergone technical analysis for a long time, it currently presents an ideal pattern. The price is approaching the trendline support level, showing signs of stabilization in the short term. From the daily chart perspective, CAKE is in a triangular consolidation pattern, and the current price is retesting the lower band support, providing a good opportunity to get on board. Consider gradually building a position in Spot around the 2.4u price level. As long as the price can stabilize at this position, the next phase may likely see a breakout of the triangle pattern. This is a trading opportunity worth trying, and it is recommended to set a 5% stop loss to control risk.