Range compression under resistance… bearish pressure building.
$CAKE /USDT – SHORT
Trade Plan
Entry: $1.51 – $1.56
SL: $1.60
TP1: $1.48
TP2: $1.43
TP3: $1.38 (if breakdown expands)
Why This Setup?
4H Structure: CAKE is consolidating below $1.585 resistance while forming lower highs — a classic bearish continuation pattern within a range.
Price Positioning: Trading near mid-to-upper range but failing to reclaim resistance. This zone offers a favorable short opportunity on weak bounces.
Daily Context: Broader outlook remains bearish. Without a strong breakout above resistance, upside moves are likely corrective.
Volume Behavior: Low momentum during consolidation with no strong buying spikes — suggests lack of demand and potential distribution.
Key Levels: $1.486 is immediate support. A break below this level can trigger downside continuation toward $1.43 and lower zones.
As long as $1.585 is not reclaimed, bearish bias remains dominant.
Debate:
Is this consolidation before a breakdown…
Or will buyers step in and break the range to the upside?
Trade $CAKE here 👇
