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CAKEPERP trade ideas

CAKEUSD (1W) - buy the dipHi traders, Here it is my idea for a long position on CAKEUSD (1 week time frame). the price hit a local high in March 2024 and hit another high in November 2024, now we can hope in a bear weak to have a bounce up after. The idea is to enter in the buy area, which is determined by the shadows of the last two candles. The best would be if the price will hit the SMA in the buy area and use it as a support too. The buy area is between 2.729 and 2.527. We will put our first take profit at the level of the last high, at 4.613. The second take profit will be at 5.393, when the price hit a local high in November 2022. Good luck!
BINANCE:CAKEUSDLong
by vf_investment
CAKE/USDT Long CAKE/USDT 4H Technical Outlook 🚀 🎯 Price Action: Current Price: $3.36 Support Zone: $3.13 - $3.31 (Fibo 0.618 - 0.705) This area is acting as a strong demand zone. Resistance Levels: $3.55 (Fibo 0.5) and $4.58 (Key resistance level). 📈 Expected Scenario: If the support zone holds, the price may first test $3.55. A breakout above this level could lead to $4.58. Breaking $4.58 opens the door for targets at $5.14 - $5.86. ⚠️ Key Levels to Watch: If the support fails, the next zones to watch are $2.95 and $2.52. RSI is showing signs of recovery, but increased volume is needed to confirm momentum. 📊 Summary: CAKE is gathering strength at key support and could trigger an upward move. #CAKE #Crypto #Altcoin #TechnicalAnalysis 🚀
BINANCE:CAKEUSDLong
by MinutesCharts
Cake Usd | Just going downIf we set aside the aspiration of creating new highs and focus purely on the price behavior, there’s little appealing about this currency's performance. The market maker for this token appears to be notably weak. In its previous move, if it had managed to break above the $5 level, we might have considered a bullish scenario. However, the reality is that many holders and investors have become disillusioned. The token's support cannot be sustained merely through promotional news on platforms like Telegram and Twitter. Personally, I’ve placed trust in this currency multiple times, only to witness it reach new lows each time. The current monthly rejection candle suggests a potential move toward the half-dollar range, reflecting the market's negative sentiment. Interestingly, their platform seems to generate sufficient income, which might imply that a lower token price is not necessarily detrimental to them. This perspective could align with their broader strategy, but it does little to instill confidence among the token’s investors. This is not financial advice.
BINANCE:CAKEUSDShort
by nic7071
CAKE ROADMAP (1W)It seems that the CAKE token has likely completed a diatonic structure on higher timeframes and has transitioned into an ABC or potentially a more complex pattern. Wave C of this new structure could initiate within the highlighted green zone. Wave C is anticipated to be bullish. However, if a 3-day candlestick closes below the specified invalidation level, this analysis will no longer hold valid. 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
CRYPTO:CAKEUSD
by behdark
1
CAKE: Will it go back to $1.50?Pancakeswap was originally built on the BNB Chain and allows users to trade tokens without using a centralized exchange. It provides an array of products, such as: An exchange to swap tokens A yield farm to earn rewards Syrup pools to stake CAKE tokens Ethereum liquid staking (wBETH) and simple staking Pancake Protectors game v3 position manager (new feature) A prediction market Initial Farm Offering (IFO) token launches A bridge to bridge CAKE to Ethereum and Aptos A lottery An NFT marketplace
BINANCE:CAKEUSDLong
by M2it2M
CAKE → Three Pushes Up! Will We Reverse to $2.84? Let's Answer.CAKE (Pancakeswap) completed its third push to the upside and rendered four Daily candles in a row with large wicks on the top. Today's close marks the fifth. Does that mean we're in for a drop? How do we trade this? 🤔 I believe a pullback here is imminent. That doesn't mean a short is justified, we are in a bull trend and our bias should remain long. However, the short-term signals like the three legs, 5 wicks on top, and a high RSI all indicate a pullback is here. It's reasonable to short this on a lower timeframe like the 1HR but on the Daily, we should be looking for a long. Wait for the price to come back down to the $2.84 area and find support. We need to see a strong buy signal and confirmation bar to justify an entry. I caveat this proposal with the state of the crypto market as a whole, it's a pivotal moment that could spell a reversal which will likely drag CAKE down with it. In summary, zoom into the 1HR timeframe to find a short, wait for a long entry opportunity at $2.84 per my description above. 💡 Trade Idea 💡 Long Entry: $2.937 🟥 Stop Loss: $2.64 ✅ Take Profit: $3.53 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Bull Channel with three pushes up, large wicks on third push. 2. Gap to Daily 30EMA. 3. Don't enter a trade here, need more price action. 4. RSI at 75.00 and above Moving Average. Supports Pullback. 5. Crypto Market at Pivotal Moment, Consider Reversal Possibility. 💰 Trading Tip 💰 You can trade any candle on the chart, the question is what trades are more worth your while and fit with your personality traits. First, understand how to analyze a chart, then understand yourself and how you best interact with your analysis such that you make money. ⚠️ 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
A Dive into the Burn of 8,740,957 $CAKE Tokens worth $25 MlnPancakeSwap's Fiery Transformation In a surprising turn of events, PancakeSwap, one of the leading decentralized finance (DeFi) platforms on the Binance Smart Chain (BSC), has just executed a massive token burn, incinerating a staggering 8,740,957 NASDAQ:CAKE tokens, equivalent to a jaw-dropping $25 million. This unprecedented move has left the crypto community buzzing with speculation and excitement. The Burn Event: On 8th January, 2024, PancakeSwap's blockchain explorer, BscScan, unveiled a transaction hash (TxID: 0xdddb22d7af19a36fa92342a9bc5c2bf82a6e3b8a843abcfbd45ac261c5e7ebb8), providing irrefutable evidence of the burn. The burn event is a strategic move by PancakeSwap to reduce the total supply of NASDAQ:CAKE tokens, thereby potentially enhancing their scarcity and value. Unpacking the Numbers: The burned 8,740,957 NASDAQ:CAKE tokens represent a significant portion of the total supply, and with the current market capitalization of PancakeSwap, this move could have profound implications. The token burn is not only a testament to the platform's commitment to its community but also a strategic maneuver to counter inflationary pressures and maintain a healthy ecosystem. Implications for NASDAQ:CAKE Holders: For existing NASDAQ:CAKE holders, this burn event may result in a positive impact on the value of their holdings. The reduced supply could potentially lead to increased demand, fostering a more favorable environment for price appreciation. The burn sends a clear signal to the market that PancakeSwap is actively managing its tokenomics to create long-term value for its community. Community Response: The crypto community, always quick to react to significant events, has expressed a range of emotions following the news of PancakeSwap's massive token burn. Social media platforms, forums, and chat groups are buzzing with discussions, analyses, and predictions about the potential market response. Some see it as a bullish signal, while others are eagerly awaiting PancakeSwap's official statements regarding the motivations behind the burn. PancakeSwap's Vision: PancakeSwap has been a pioneer in the DeFi space, offering a user-friendly platform and a wide array of features, including decentralized trading, staking, and yield farming. The recent token burn aligns with the platform's commitment to innovation and sustainability. It highlights PancakeSwap's dedication to creating a robust and valuable ecosystem for its users. Conclusion: PancakeSwap's decision to burn a substantial number of NASDAQ:CAKE tokens has injected a new level of excitement and anticipation into the crypto community. As the aftermath of this burn event unfolds, all eyes are on PancakeSwap to provide further insights and guidance on the potential impact on its ecosystem. The journey ahead for NASDAQ:CAKE holders promises to be an intriguing one, filled with opportunities and challenges as PancakeSwap continues to shape the future of decentralized finance on the Binance Smart Chain.
CRYPTO:CAKEUSDLong
by DEXWireNews
CAKE Price Aims for $5 This YearCurrent Trend: CAKE price shows potential for a bullish run, signaled by a morning star pattern. Next Target: The focus is on surpassing the $4 mark, which could lead to a continuation of the upward trend. Intraday Growth: CAKE experiences a 2.19% rise, trading around $3.60 and forming a bullish engulfing candle. Pattern Significance: The formation of a morning star at the 78.60% Fibonacci level suggests a strong reversal potential. Volume Concerns: The rally's sustainability is under scrutiny due to modest trading volumes. Technical Indicators: MACD: Threatened by a negative crossover, the current bullish pattern could avert this. EMA: The 50D and 200D EMAs show an upward trend, ready to offer dynamic support if needed. Bullish Outlook: The emerging trend and the Fibonacci analysis suggest a possible run towards $5. Risk Factor: A potential bearish downturn could see prices dropping to around $3.16. Overall Sentiment: The early 2024 trend for CAKE is bullish, with indicators favoring a rise above $4, possibly reaching $5.
BINANCE:CAKEUSDLong
by Coinpedia-Market-Insight