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CAKE

CAKE /USDT a comprehensive analysis with stops and targets! Hello dear friends, Here is an analysis of Cake on the 10 hour chart. Cake is in a clear downtrend and has broken out downward from the Red/Green triangle. Afterwards, a symmetrical triangle (orange) formed and broke out downward from there as well. We may see a rebounce to resistance 1, 2 or 3. A stoploss in that case is always just below the support (green) or a little wider below the resistances if the price rises above them. This is clearly a rebounce in a downtrend. So it is more dangerous to go LONG. The targets for the longer term are 9.86, 8.45 and 7.22. Below 7.22 we can see a very sharp decline. See also my previous analysis of Bitcoin because that is the leader and the rest follow. Also the world situation does not challenge me to go LONG but we just do what the charts dictate. The ALTS are the one which will get hit the most in a heavy downtrend. Putting stops is good but best to wait for the daily candle because often the price goes much lower intraday to stop traders out. Best of luck with trading or on the sidelines! Disclaimer This is my view, no advice to buy or sell. Also always do your own research! --->> Dear friends please follow me for updates and give me support with a like 👍 if you like me to continue this work. Thanks 💚
by PegasusTechCharts
24
Look at Fundamental - Cost Average Buy $cake As the new technology emerge and down about 98% from high. I would say this is an ideal buy and cost average monthly buy till the next halving which is begin in 1/1/2024. That I read on the internet. If the hypothesis is true. We can compare $cake to $bnb with the similar pattern. $BNB was down to around $4 the last cycle of 2017-218. It reach around $700 in 2021. Could $cake become $bnb. We never know but we can play with a small risk by buying in small amount of your investment monthly at this price of $2.5 or even lower. You can wait for a year and half and if the market turning good. You could save a good amount of money to invest in your business or go to a dream vacation. Buy your loved one gifts..... Just a assumption. This is a not financial advice. I also invested in $cake. Tlake412
CLong
by Cyb3rDr3am420
CAKE - Explosive Move Coming! 🎂CAKE is one of the cleanest and easiest charts to read. We have a simple ABC correction and we're currently on the last bearish wave of C. We are now waiting for the first bullish candle to appear, at which point we'll know we've hit the floor. On lower timeframe we can look for reversal price action to confirm the floor. Trade Idea: - Watch for the final leg to complete. This can be done by looking for bullish price action such as trendline breaks, BOS, RSI oversold etc. - Once bullish price action appears and meets your criteria for reversal, enter with stops below the recent lows - Targets: 17, 26, long term target 40 Will update this chart once we've hit the aforementioned floor. Goodluck!
by WicktatorFX
12
🎂CAKE follow BNB. Is it time to buy after 15% fall?After BNB annaunce investing in Cakeswap it`s pump for 17% in 8 hours. As you see at volume indicator someone sells a lot of the coins (take profit). But why the price dump to the previous valua area of $4.34-4.42? The SEC raised a suspicion of Binance similar to the Ripple case. Allegedly BNB are shares of the exchange, which is not allowed by law. This news dump even Bitcoin for 6%! 📊 What is good for bulls? 🔶Price is trying to close inside the valua area of $4.34-4.42. It`s the first sign of strength. 🔶The second positive sign for bulls is the volume growth. What this mean? Someone open additional long possition because there is enough liquidity to buy. 🔶If the price start to squeeze to the trendline and additionally volume will grow it will be the third signal that bulls show the strength and ready to pump the price. 🔶Closure of cases of possible violation of the law by Binance exchange will give a strong boost to the price of BNB and CAKE. Targets for long are marked on chart: $4.88 - key level $5.65-5.85 - value are 📊 What is good for bears? 🔶The bulls were traped even on BTC so it`s possible that the price of all alts will follow the BTC price if the dump continue. 🔶If the SEC continues to investigate Binance, all altcoins linked to this exchange (CAKE, BNB, WRX, TWT) will consolidate or fall for a long time. For example, Ripple, which is about 2-3 years in a similar position in the bull market grew less than Bitcoin, although it has a capitalization of 10-15 times less. 🔶The false breakout of the trandline will b additional sigmal that the bulls haven`t enough power to push the price higher. Binance is the largest crypto exchange and it`s hard to image that it will be banned. Perhaps the exchange will just pay a small fine, since the proceedings only concern 2017. 💻Friends, press the "like"👍 button, write comments and share with your friends - it will be the best THANK YOU. P.S. Personally, I open an entry if the price shows it according to my strategy. Always do your analysis before making a trade.
by Yuriy_Bishko
5
The fat kid loves $CAKE$CAKE the local token for the PancakeSwap exchange on the Binance Smart Chain BSC has seen a significate drop after it's launch to ATH at $44. The bear market and drop in price for BTC has really hit it hard but the project remains great with genuine use case. 10's of coins are launched on the PancakeSwap exchange everyday it is still seen as the 'go to' for new coins and projects to launch. While I anticipate further moves to the downside to BTC and the market as a general I am looking for an entry into $CAKE around the $2.5 zone EIW theory puts it back up at $5.3 to put in wave 4 before a further dump to put in wave 5, possibly down to $2.2 which would be a great price to but in my opinion (depending on the state of the market and BTC) An ABC correction will be expected after wave 5 which according to EIW will put the price back up at $20 once wave C is in for a possible near x10 move. Combine this with the staking options that are available on the PancakeSwap website pancakeswap.finance with the fixed syrup pool offering up to 125% APY if you stake for 52 weeks (1year) which is an incredible return. Add #CAKE to your watch list guys
by jamesdbarnard
2
CAKEUSDCAKE is one of the cleanest and easiest charts to read. We have a simple ABC correction and we completed the C wave recently. We are now in bullish territory and looking for any opportunities to go long. We have a nice correction forming now and all we need to do is wait for a breakout and enter. Trade Idea: - Watch for breakout of the descending trendline - enter with stops below the structure - Targets: 17, 26, long term target 40 It is possible we may come back to test the structure to create a double bottom before moving so just be wary of that.
BINANCE:CAKEUSDLong
by FXSMARTT
PANCAKE-USDTGreetings, Price has been in a downtrend since May 2021, but nevertheless there have been 2 times a bounce from local lows of 100%, the last time in March from a price around $5. After that, a test of the past support zone, around $10, which has now become a resistance zone. Possible entry points to go long: On a breakdown of the downtrend, or look for an entry point on a retest of support around $5 and the formation of a double bottom. Daily chart. A rise and a correction that could be a flag band. The targets when this pattern is worked out will be the length of the flagpole. If you liked this material, in that case, please like it and subscribe so you don't miss anything. Always use STOP, and do not use a leverage higher than x3. A trader must always have tomorrow.
by Kirill_Gaitan