$CAKE Weak Bounce Below Resistance — Sellers Still in Control 🔻
Short Trade Signal (Scalping):
Entry 1: 1.84 – 1.86
Entry 2: 1.92 – 1.98
TP1: 1.76
TP2: 1.68
TP3: 1.58
SL: 2.05
Leverage: 20–40x (risk-managed)
Open Trade in Future👇🏻
Spot Traders:
Avoid aggressive spot buying here. Better accumulation zones sit much lower near 1.60 – 1.50, where higher-timeframe demand may appear.
Why This Trade
$CAKE remains in a strong downtrend on the daily chart, with price trading well below all major resistance zones. The recent move from 1.76 to 1.83 is only a technical relief bounce, not a trend reversal.
On the higher timeframe, structure is still bearish with lower highs and lower lows. Every attempt to reclaim the 1.90–2.00 area has failed, showing that sellers are defending this zone aggressively.
The current sideways movement around 1.83 looks like distribution after a dump, not accumulation. Until Cake can reclaim and hold above 2.05, long positions remain risky.
This makes pullbacks into resistance ideal opportunities to sell the bounce, not chase upside.
Key Levels to Watch
Resistance Zones:
• 1.84 – 1.86 (immediate sell zone)
• 1.92 – 1.98 (major rejection area)
Support Zones:
• 1.76 – 1.68 (short-term downside)
• 1.60 – 1.50 (major HTF demand)
Invalidation
If
$CAKE breaks and holds above 2.05, bearish structure weakens and this short setup becomes invalid.
Until then, trend favors downside continuation.
Trade patiently, respect the trend, and manage risk properly.
And if you’re not following Token Talk, you’re missing these clean breakdown setups before they play out.
#Cake