Cake/Usdt 3/10/2022

The cryptocurrency Cake rebounded from the support area located between 4.968 and 4.685 levels and formed a negative regression candle (1) on the daily chart, followed by two negative candles that confirmed the effectiveness of the negative pattern
With this retracement, the last low recorded high on the four-hour chart was breached at 4.583 and a new low was recorded at 4.442, which indicates a change in the trend from bullish to bearish.
The rise to the levels of 4.703 and 4.734 will be a new selling opportunity for this currency on the condition that it maintains the 4.774 level and does not record a top above, and in the event of recording a top above, we will witness more corrective rise to the 4.952 and 5.012 levels as new selling opportunities to target the 4 level. .500
Breaching the 4.442 level, which represents the last recorded low, and recording a bottom on the daily frame below, canceling the above mentioned scenario