BAKEUSDT trade ideas
Day trade today 006!!BYBIT:BAKEUSDT.P
Today i love the look of what bake can do here all we have to do is sinplt drop down to my price and wait for the volume to come through with a new 'crator' and once that crator forms we should see our clear bottom after that... this could pop early like lots of them do but looks cool with the setup so im going to keep this valid for sure, i will update this.
BAKEUSDTBased on the provided market data, the BAKE/USDT pair is currently priced at $0.1470.
Looking at the 4-hour chart, the Relative Strength Index (RSI) is at 75.64, which is typically considered overbought. This could indicate potential for a price drop or correction in the short term. The Moving Average Convergence Divergence (MACD) is at 0.0032, which suggests bullish momentum. The Bollinger Bands (Bb) are at 0.1437, with the price above the middle band, indicating that the market is in a bullish trend.
The daily chart shows the RSI at 62.12, which is relatively neutral. The MACD is at 0.0056, further confirming the bullish momentum. The Bb is at 0.1560, with the price below the middle band, suggesting a bearish trend in the longer term.
The weekly chart shows the RSI at 53.10, which is neutral. The MACD is at -0.0091, indicating a bearish trend. The Bb is at 0.1504, with the price below the middle band, further confirming the bearish trend.
In terms of support and resistance levels, on the 4-hour chart, the first, second, and third support levels are at $0.1224, $0.1148, and $0.1050 respectively, while the resistance levels are at $0.1424, $0.1917, and $0.2229 respectively.
On the daily chart, the support levels are at $0.1043, $0.0930, and $0.0699, and the resistance levels are at $0.1560, $0.2016, and $0.2726.
On the weekly chart, the support levels are at $0.1087, $0.0826, and $0.0797, and the resistance levels are at $0.1778, $0.3742, and $0.6518.
In conclusion, the market data suggests a bullish trend in the short term, but bearish in the longer term. However, the high RSI on the 4-hour chart may indicate a potential price correction. As always, it's essential to consider other market factors and your risk tolerance when making trading decisions.
BAKE LONG SETUPHi, dear traders. how are you ? Today we have a viewpoint to BUY/LONG the BAKE symbol.
For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
Comment if you have any questions
Thank You
BAKE/USDT Can Bake Break the Strong Resistance or Down again ???๐ BAKE is unmistakably on our watchlist. It's gearing up once again to challenge a formidable resistance zone. Previously, upon encountering this resistance, BAKE faced a sharp 19% decline, only to rebound impressively upon reaching the Bullish OB zone.
๐ While the current trend showcases bullish tendencies in the short run, a decisive bullish confirmation would require BAKE to breach and sustain above this strong resistance.
๐ However, if BAKE stumbles at this resistance once more, we might witness a pronounced decline, potentially revisiting the Bullish OB zone. Should BAKE falter and lose its grip on this OB zone, there's a chance it could descend further, possibly towards the robust support zone.
BAKEUSDT.P - SwingThis trading plan incorporates mechanical strategies along with smart money concepts.
Please be aware that investing in FX, Crypto, or any financial instrument carries inherent risks. It's advisable to consult a financial advisor or conduct thorough research before making any investment decisions.
Watch List Oct 07 2023 No.1 BAKEUSDT.PBAKEUSDT is in a very bullish trend
Watch for the consolidation and possible further upward move
Signal: Green * N
DISCLAIMER
This is only a personal opinion and does NOT serve as investing NOR trading advice.
Please make your own decisions and be responsible for your own investing and trading Activities
BAKEUSDT โ Breaking through resistance opens up the potential BINANCE:BAKEUSDT is trying to move into the phase of realization of accumulated potential. A consolidation above the 0.1421 level will be a good starting point. If we break through the resistance of the range, we can get a gorgeous bullish potential (targets are indicated on the chart)
BINANCE:BTCUSD shows good dynamics for the medium term. The price after the false breakdown of resistance does not fall and there are prerequisites for a possible strengthening of the price to 30000, which will give a great kick in the butt to altcoins if the total capitalization increases.
From a fundamental point of view, the cryptocurrency is still turbulent and there is not much bullish news (strong news). But bitcoin is showing strength relative to the SP500 ( CAPITALCOM:US500 ) - and that's good for us.
In terms of technical analysis BAKE: the price breaks the resistance of the annual descending wedge and we get a signal for further strengthening of the price. In the nearest future the market may test the previously broken level of 0.1421 and if the bulls successfully consolidate the position, the price may give a start towards 0.2339 and 0.2840.
Moving averages indicate consolidation and show a hint of something interesting.
Support levels: previously broken wedge boundary, 0.1421, 0.1161.
Resistance levels: 0.1580, 0.1882, 0.2339.
Since we see the breakout of the resistance of the figure, in the long term I expect the formation of the realization of the accumulated potential in the form of a bullish impulse to 0.2339, 0.2840.
Regards R. Linda!
BAKE/USDT Potential Bounce and make a Bullish Momentum ??Yello Paradisers, Keep an Eye on BAKE: Navigating a Major Descending Channel
๐ BAKE continues to operate within a significant downward channel.
๐ Previously, it experienced a sharp rally, reaching a Bearish Order Block (Bearish OB) where it faced a strong bearish rejection and subsequently declined.
๐ Looking at the chart, BAKE shows potential for a bounce as it approaches a resistance zone. Should BAKE face rejection at this point and decline, it's likely to breach a crucial support level, setting new lows. On the flip side, if BAKE manages to break and sustain above the resistance zone, it could retest the previous Bearish OB.
๐ This analysis would be invalidated if BAKE breaks through the key support level and closes below it on the daily chart.
bakeusdt-mentoringbakeusdt speculative view
bakeusdt on weekly looks like it ready to retrace atleast 50% to 0.9c
look for short if close under 0908 area
look for longs if close above 1557 area
look for long if holds 1111 area
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Tolerance will reach such a level that intelligent people will be banned from thinking so as not to offend the imbeciles- F.M.dostoyevsky