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Cakeidea

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
CAKEUSDT in Buy Zone Area! [Low-risk Setup]Good day, TradingView fellows! I believe $CAKE is testing its support recently. The good buy zone is at $9 to $13. I am anticipating it will hit $18 in the short-term, $24 in the medium-term and $39 in the long-term. This analysis is suitable for swing traders and long-term traders. Entry: $9 - $13 TP 1: $18 TP 2: $24 TP 3: $39 The idea published is not a financial advice. The content of this idea is solely the opinion of me who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. This does not guarantee any particular outcome. Always DYOR (Do Your Own Research) and trade at your own risk. Let me know your insights in the comment section. Give this work a thumbs up if you appreciated my analysis. Smash that follow button for more upcoming low-risk setups! Thank you so much in advance. Good luck, Alexis
Long
by alexisdelayola
2
CAKECake, after a month rising, ended up forming into a flag. He had his premature breakout on the 7th, showing a Bull Trap, a long trap. Demonstrating that bulls were not so hot. The funny thing is that I just realized that we still have a Trench (rectangle or accumulation) call it what you like. The important thing about this is that we have two important factors to consider: 1. Bull trap 2. rectangle If Cake breaks this rectangle it will have a currency devaluation of almost 18% or more, it will all depend on whether it holds straight support or not. Time to get smart with this coin!!
by DuhNT
3
My idea for CAKE/USDT for the weekendI'm just a beginner chartist but I cannot ignore this double bottom pattern potentially forming. If the red dynamic resistance line is broken with some volume (and retested) then a break above the purple neckline may be in the books, followed by a break above the last support turned resistance. If then that level is retested and it holds then we are looking forward to a move higher up. Please watch all the key levels that I circled on the chart. If you go long use proper stop losses and you may also want to take small profits on the way up at the key levels. Remember, the bull trend has not yet been confirmed on the 4-hourly chart, we are still officially in a bear trend on the short term. We may as well see further downward movement regardless of my observations.
by LaiChee81
2
CAKE: Breaking The SupportGood day to all profit makers If you find my charts useful please consider a follow and a thumbs-up as it motivates me to share and grow with you! If we break through this support we can see a nice possible buy setup unfolding. - Consult the chart for more information. - On the chart, you will find possible support setups -This is just an idea, the price might go up or even further down - The market is extremely volatile. - Trade with care - Note: - This is just my current idea. - I am not a financial advisor and this is not financial advice! - The timing of this chart will most likely not be accurate - There is always a huge chance of different patterns taking shape in these ever-changing charts. - My views and charts can and most probably will change. - I can be 1000% wrong! - Important: - Trade responsibly. - Respect your wallet - Greed is never good - Be focused. - Have a plan. - Stick to the plan. - No FOMO. - Take the time to study YOUR own charts and come up with your own ideas as you are going to trade with your money. - Never trade what you are not willing to lose - Remember Stop-loss is your friend. - Smile! - Good Trading and Good Luck If you find my charts useful please consider a follow and a thumbs-up as it motivates me to share and grow with you!
C
by dstvst