CAKE Descending Triangle Pattern

Taking a look at CAKE's potential The descending triangle is forming as it was entering down, although this is primarily due to BTC lowering on the 26th. I am quite neutral when it comes to CAKE, as we have built a support line on the fibonacci level 1 level. Additionally, lesser lows and a high are created, which subsequently bounce back down.

*We haven't retested ath on CAKE in a while, which makes me a little bullish. As a beginner trader, I'm open to any chart advise or suggestions on how to improve my trading skills.


Please keep in mind that this is not financial advise and that you should conduct your own research before trading.