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Pancakeswapusd

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
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
CAKE-PancakeSwap-USDT (OVERVIEW)Hello there!👋 Thank you for stopping by today, let's get right to it 🌍👇😄🎉 Technical Overview : 🔍📈 Technically, CAKE🍰 (PancakeSwap token,) IMO, was forming what looks to be some sort of bear-ish structure/harmonic.🐻👁‍🗨 Price decided against this pattern and we are now seeing some possible bull-ish activity🥳🐮, which leads me to believe we can hit our bull target depicted above! Additionally, price action broke up and out of a major trendline(purple,) engulfing the 💲16.0 price on ~May 31st, and has maintained bull momentum for the most part since then. I am expecting us to reach ~💲25.05 in the near future⏲⏰✔, where it would then be wise to re-analyze. Fundamental Overview : 📝📍 🍰🥘🍰 is a DeFi AMM platform that allows you to earn liquidity by staking the CAKE token on the BINANCE SMART CHAIN. BSC (Binance smart chain,) is a blockchain that provides fast transactions with low gas fees.🆗👍👏 PancakeSwap launched September 20, 2020 and is now down ~54 % from its ATH price of ~$44 on April 30th of this year.😮📆 We may be seeing Pancake lovers scooping up their CAKE while it's down.. let's see👀, but remember, always use proper precautions when making large investments 📌🧐 I have also created a few other paths that I see possible, in the event that we turn bear-ish. 🙂🐻 🛑🛑🛑This is not financial advice, always have a stop🤚🛑💲 loss set🛑🛑🛑 It is a good idea to always monitor 🧐👀 BTC and ETHs movement when making any trade Any thoughts 💭💡, questions 🙋‍♀️🙋‍♂️❓, good 👍, bad👎, happy 😄 or sad 😥, in the comments always welcome. Thank you so much!!! Jazerbay 🐶
Long
by jazerbay
38