alikze的BINANCE:CAKEUSDT的Alikze »»CAKE | Reverse head and shoulders pattern

Alikze »»CAKE | Reverse head and shoulders pattern

🔍 Technical analysis: Reverse head and shoulders pattern

- In the previous analysis, it was mentioned that a head and shoulders pattern was formed, that the last correction log can extend to the range of 1.17.

- As mentioned, it is moving in a descending channel.

- Demand was met at the bottom of the descending channel and the range, which experienced a growth up to the top of the channel and the broken zone.

- Currently, in weekly and daily time, in addition to the descending channel, it is in a concentration.

- In addition, it is suspected that the head and shoulder pattern is the opposite. Therefore, I expect it to advance to the supply zone after the last bearish leg and the right shoulder are completed, out of congestion.

💎 Note: It is necessary to explain that the right shoulder should not be extended to the previous area, in which case the alternative scenario should be checked and the post updated.
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註釋

According to the moving scenario and the reversal pattern, it has managed to break it after dealing with the dynamic trigger and a temporary correction, which has also broken the first supply area so far. And it is reaching the area of 2.36.