BAKE - Triple Bottom?!Bake is back at the very lows and could be a great crypto to buy and hold (without leverage) as the downside is very limited but the upside is immense!
However, if you're trading with leverage there are 2 areas to look for.
First area is the triple bottom. We saw price reject the 1.400 level twice before and we could come back to test it for the third time.
However, if we don't come back down anymore, watch for a breakout and enter with stops below 1.400 and target the recent highs and then hold the rest.
BAKEUSDT trade ideas
BAKECoin : #BAKE/USDT
Direction : SHORT🔽
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It seems to be breaking down of the upward trend and we also have reached supply zone here, hence we can place a sell trade with a very tight SL
Leverage : 3x or 5x
Entries : CMP{2.009}, 2.032
Targets : 1.934, 1.882, 1.825, 1.760
STOP LOSS : 2.063
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💥BAKE BREAKOUT - FALL TO $1.470 OR RISE BY 235% TO $4.80 & $7.2Please support this idea with a LIKE👍 if you find it useful🥳
As seen here on a daily TF, we have price broke out of the descending triangle and got itself into a symmetrical triangle.
Right now, market is indecisive whether to go long or to short.
Therefore, a downward breakout from the existing symmetrical triangle will make price fall to $1.470 and an upward breakout will push price by 235% to $4.80 and $7.20.
What do you think?
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BAKE/USDT UNDERVALUED, POSSIBLE PUMP SOONI still think BTC has room to climb up and market will follow. BAKE is on sale, it is in a great value area, on top of that it broke a global trendline and it is finding support on the trendline and 50 period EMA. I think it is a good buying opportunity looking at a minimum of 100% target, great for spot and if you are using futures, small volume with an ample Stop Loss to leave some room for the move to happen. Let me know in the comments what are your thoughts!