Formation of Rising wedge in CAKEUSDT
* Rising wedge occurs when the price moves between two trend-line forming higher-highs and higher-lows. The lower trend-line works as support for the price and the upper trend-line as resistance.
* Cake in 4H time frame forms the rising wedge pattern including with the support of 50 Moving average.
* If the price breaks the lower trend-line we can expect a bearish move till $16.400.
* Cake in 4H time frame forms the rising wedge pattern including with the support of 50 Moving average.
* If the price breaks the lower trend-line we can expect a bearish move till $16.400.
Commentaire:
The price didn't break the lower trend-line but continued the rally with break of above resistance