strong buy
PancakeSwap: 1,141-Day Triangle Suggests Imminent Bullish Breakout
I view CAKE as one of the clearest bullish setups on the market right now: a long-running symmetrical triangle after an extended accumulation phase.
The token has consolidated inside the pattern for about 1,141 days, which raises the probability of a significant move once the price breaks out.
I expect an upside breakout soon, but I will look for accompanying volume and a clean close above the triangle before increasing exposure.
Source available for registered users Sign Up Free
Analysis
The symmetrical triangle after a very long accumulation increases the potential energy for a directional move; historically, long bases can produce outsized breakouts. Key confirmation will be a break...
Recommendation
I rate this a strong buy on confirmed breakout and volume. Consider scaling in on a clean breakout and use a stop-loss beneath the triangle or recent support; size positions to account for volatility ...
Disclaimer
The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.
You might also be interested in:
don't buy