CAKEUSDT Analysis by @pipsnipers

The video analyzes CAKEUSDT, observing that it often pumps and dumps with equal velocity. It identifies a 5-wave move upward followed by an ABC flat correction. The presenter uses Fibonacci retracement, VWAP, and Elliott Wave analysis. It points out that a VWAP band suggests a $11-$12 target, aligning with a 23.6% Fibonacci level. The analysis also shows that a 2.618 extension from the A-wave high to B-wave low also provides an $11.78 target. The current market action is seen as the beginning of wave 3 of a larger cycle. A potential wave 4 pullback is expected after reaching the $11 - $13 region, with $1.90 level used as 0.78 fib support which if broken invalidates the prediction. Bitcoin dominance and the formation of a diamond top is mentioned as an extra point. The presenter suggests taking profits at the $11 to $12 level, and uses the bottom of the wave 2 as the fail zone if the price reach this area invalidating the predictions