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Cakeanalysis

CAKE → PancakeSwap Bull Breakout! What are the Price Targets?PancakeSwap executed a beautiful bull run and pullback, forming an arched pattern toward the 200EMA where we bounced and broke out! The price is in meander mode toward the upside on new support. How do we trade this? 🤔 We do not have any signal candles or patterns to suggest the next move, any trade here carries a low probability of profit. If we long, our protective stop should be under the 200EMA which is a fair distance away. If we short, we have the 200EMA acting as potential support and where do we place our stop loss? The proper place is above the previous high of over $2.84, which is a bad Risk/Reward ratio. We should wait until the price falls to the 200EMA and the RSI comes down closer to 40.00 and starts to cross above the Moving Average. This tightens our stop loss and gives us enough room to 1:2 Risk/Reward our trade. Until then, let's see how the price action plays out. FOMO (Fear of Missing Out) is your worst enemy. This is where you enter the market prematurely, worried that you'll miss potential profits but instead, you end up in a bad trade. I find combating FOMO is best conceptualized as " You're making more money by not falling for the seduction of market profit ." 💡 Trade Idea 💡 Long Entry: $2.3037 🟥 Stop Loss: $2.1860 ✅ Take Profit: $2.5395 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Bull Trend Consolidating Pattern Complete. Bull Breakout. 2. Established New Support, Currently in Uptrend. 3. Wait for Pullback to 200EMA to consider long. 4. Do Not Long until we see Strong Bull Support after Pullback. 5. RSI at 53.00, below Moving Average. Supports Short. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
BINANCE:CAKEUSDLong
by TraderEngineering
CAKE → Bounce to the Moon! Take Advantage of This Opportunity!PancakeSwap is bullish in more ways than one! The price is playing out a beautiful two-legged pullback after a strong bull run; an indicator that the bulls are in control and more upside is probable. How do we trade this? With a two-legged pullback after a bull run and the RSI above the Moving Average with room to spare on the upside, we have to remain bullish. We're missing one critical piece of the puzzle to enter a long trade; the bull signal and confirmation bars. The bull signal bar will have a long tail and a close on or near its high, followed by a strong bull candle closing on or near its high. The confirmation candle should close above the resistance line and re-test it as support. That would be the ideal long setup as depicted in my analysis. This is a conservative long, taking profits just prior to the double top high. You could close half of your position and take profits at a 1:1 Risk/Reward and swing the remainder to a 1:3 Risk/Reward or until you see a sell signal. Trade depending on your strategy! Be aware, we could also fail to break resistance and end up with a strong bear signal, completely changing our trading bias. Always be ready to change your bias and learn to recognize those signals. Trade Idea Long Entry : $2.26 Stop Loss: $2.02 Take Profit: $2.74 Risk/Reward Ratio: 1:2 Key Takeaways 1. Bull Trend Consolidating, Bias to Long. 2. Double Top followed by Two-Legged Pullback, Bullish. 3. Watch for Support at 200EMA. 4. Do not Long until Bull Signal Bar and Confirmation Above Resistance. 5. RSI at 53.00, above Moving Average. Supports Long. You are solely responsible for your trades, trade at your own risk! If you found this analysis helpful, click the Boost button and let us know what you think in the comment section below!
BINANCE:CAKEUSDLong
by TraderEngineering
CAKE Gearing Up for a Bull Run!? This Analysis Shows the Way!CAKE is crawling sideways in between a bull channel and above the Weekly Resistance. The price hasn't been able to break above the 30EMA nor has it broken below the Weekly Support. How do we trade this? The overarching trend is bullish, so we should set our bias to long. The price is establishing support at the previous Weekly Resistance, so it's reasonable to look for a long entry at that level. Given that the price is failing to break above the 30EMA, we should wait for the price to pull back to the Weekly support line and then look for a long entry. A protective stop should be below the Previous Weekly Resistance line and at least a partial take profit at the previous highs around $2.80. Key Points 1. Bull Channel, Long Bias. 2. Multiple Tests of Previous Weekly Resistance, Showing Support. 3. Failing to break above 30EMA, Fall to Channel Support. 4. Bull signal at Channel Support, Long Setup. 5. RSI at 50.00 above Moving Average, Weak Indicator. You are solely responsible for your trades, trade at your own risk! Let us know what you think in the comment section below!
BINANCE:CAKEUSDLong
by TraderEngineering
CAKE Weekly Analysis - Long the Descending Wedge Bull Pattern!?CAKE is in a descending wedge pattern and currently flirting with breaking out. After last week's bull bar closing near its high, we had a slight pullback to the 30EMA and bounced back to the top of the wedge. We have yet to breakout let alone confirm a breakout. Until then, this is what we have for data: Key Points 1. The Descending Wedge Pattern is Bullish 2. We should wait to enter long until the breakout is confirmed 3. We have some support on the 30EMA 4. Bitcoin is a leading indicator for the alt market. Bitcoin needs to confirm a breakout of the Weekly Resistance 5. RSI has room to move up but has more to fall. We should wait for more price action. You are solely responsible for your trades, trade at your own risk! Let us know what you think in the comment section below!
BINANCE:CAKEUSDLong
by TraderEngineering
PancakeSwap Cake price looks scary and "discourages" buying themIf we look at the trading history of CAKEUSDT, we will see that the price is still in a downtrend channel After breaking through the critical $3.60 level, the price of CAKE has been falling steadily. It is a thankless task to guess when the price of PancakeSwap will hit the bottom, especially since the BTCUSDT price may be just beginning to fall. But we can make some estimates: The CAKEUSD price has now reached the middle of the falling channel, a rebound is possible, but it is hard to believe in this pattern. Below, the intermediate level of $1.50 The bottom of the channel is around $1, and this is probably the first level where we would be to risk buying CAKE, and it is after the price stops and trades above the level. _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
by P_S_trade
37
CAKEUSDT IdeaBINANCE:CAKEUSDT BINANCE:BTCUSDT ⚠️ Disclaimer: The following insights reflect my personal perspective on the market, relying on publicly available information and historical data. While some opinions stem from my actual trades, others do not. I am not a financial advisor, and I bear no responsibility for your trading choices. ✅ Feel free to reach me out with any questions or recommendations. I am more than willing to assess and analyze any currency pair or index that piques your interest.
Long
by Arash-RK
CAKE Bull Patience will Pay Off Potential is $2 upto $5 BreakoutCAKE has reached a support level that indicates accumulation, but it requires patience for the price to reach $2. Although CAKE experienced a breakout two days ago within a smaller range, it has undergone a retest of this breakout. To take advantage of potential pullbacks and enter the market, it is recommended to buy incrementally. The price needs to break the smaller box, as indicated by MT Pandora's Box, in order for the price to move. The bulls are currently preparing to overcome the resistance range at 1.48. If successful, the subsequent targets of 2 and potentially even 5 to 9 could be achieved, depending on the strength exhibited by these buyers. Currently, they are rebounding from the weekly support level of $1.3. It is advisable to exit any position below this level. I will be constantly updating this post, so I encourage you to come back and check for updates. It's still a great opportunity to buy before it's too late. If you agree with this idea, please follow and click the "like" icon under this post. If you disagree, please comment below stating your reasons. 📈 🚨 #FREE MT BNB LONG TRADE SIGNAL 🚨📈 👉 🧿 ASSET: NASDAQ:CAKE (CAKE/USDT) 👉 🧿 ACTION: LONG 👉 🧿1st ENTRY PRICE: $1.352, 2nd Entry ; 1.388, 3rd Entry ;1.415 (Buy Incrementally) 👉 🧿 STOP LOSS: $1.292(Risky Stop $1.31) 👉 🧿 1st TAKE PROFIT: $2 2nd TP: $4.3 3rd TP: $5(Extended $0.8.4 And 10.84) Remember to trade responsibly and always do your own research. Happy trading! 📈🚨
Long
by MachiavelliTrader
CAKE´s potential reversal zone @ $1.77 and "Achilles Last Stand"So here we are with NASDAQ:CAKE , not only did it enter the death zone but it also went "deep into it". We made lower lows and thus decoupled from the rest of the pack (bitcoin, ethereum, bnb, even solana!) which is correcting, yes, but did not invalidate the - for the time being- end of the bearish trend that begun showing its teeth back in may 2022. Where do we stand? In my Eliott analysis, NASDAQ:CAKE is (or could be) finishing a wave 5 of 5 of C (the greater ABC correction). I expect the target for a potential reversal to be a 1: 1.618 Fibonacci of this last 12345 wave, namely $1.777 It could even go as far as $1.50 and still rever (look at the October 2020 weak support at that level). If it happened to fall from such a cliff...Achilles Last Stand would be @ $0.45 cents. From there... twas´nice to meet you NASDAQ:CAKE :(
CShort
by Ivanbole71
3
CAKE Idea for Long tradeLow risk, entry price: Above $3.890 till $3.900 Medium risk, entry price: ==> 1. Above $3.850 in Yellow Area & 2.After 1H or 2H candle sticks close in Yellow Zone above $3.850, it means that can be close to Uptrend line CAKE vs USDT CAKEUSDT CAKEUSD BINANCE:CAKEUSDT CRYPTO:CAKEUSD ✅ ✅ Risk warning, disclaimer: the above is a personal market judgment and analysis based on published information and historical chart data on The trading view, And only some of these analyzes are my actual real trades. I hope Traders consider I am Not responsible for your trades and investment decision.
Long
by Arash-RK
PancakeSwap CAKE price is trying to break up from downtrendThe CAKEUSDT price has been in a falling trend channel since April 2021. In fact, almost immediately after "the hype CAKE" exited into the market, when the price of CAKE rose from $10 to $44 in a month, the search for a fair market price began. Looking at the chart, we can see aggressive buying of CAKEUSD from $3 After, buyers of PancakeSwap twice time bought back the price from the critical $3.60 level, giving him the status of a "mirror" Roughly speaking, we can say that a price zone of $3-5 is a zone of fair market price , which satisfies both buyers and sellers for the last six months. Therefore, in case of positive developments in the cryptocurrency market, we can expect the CAKEUSDT price to exit the falling channel. The first task of buyers is to break through and consolidate above $5.50. If this condition is met, in the medium term, you can start dreaming about growth to the region $8.75 - 9 If the wave of negativity again covers the crypto market and the price of CAKE drops below $3.60, then it is not worth buying CAKE again before $2.90-3. _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
Long
by P_S_trade
49