CAKEUSDT trade ideas
#pancakeswap BULLISH IF BREAKS OUTif the confluence of the resistance around $10 and the downtrend resistance line is broken, we can set a nice order targeting a HUGE 25% circa profit, entering around 10.6 and targeting 13
ONLY BUY IF A 1D CANDLE CLOSES ABOVE THE RESISTANCES
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CAKE Hello traders ๐บ .
In this idea I want to update my previous idea about the cake so this is short and quick update for the CAKE if you are looking for a compete analysis for CAKE you can check my previous idea about the CAKE ( link in the related ideas down blow this idea ) .
In the daily chart you can see that the price after breaking the descending channel reverse the bearish trend and CAKE price experienced a bullish impulse , but after testing the weekly resistance ( red box ) price started to retracement to the last area of the resistance which now turning into a support ( blue daily support ) , also we can see that 0.618 Fibonacci level is in alignment with the daily support and also price is above the EMA Ribbon so in my opinion there is strong chance for see another bullish impulse and the next price target could be around 13.5$ .
CAKE LONGS ACTIVE ๐๐๐๐ Expecting bullish price action on CAKE as price shifted the market strucutre from bearish into bullish, price reversed to fill the bullish imbalance and from there we have a clear area into 12/14 price area where price has a lot of price inefficiencies that should be closed.
What do you think ? Comment below..
#CAKE / USDT Trend Reversal? #Signal @everyone**CAKE/USDT**
Possible trend reversal underway, following falling wedge breakout with large volume
Ideal entries now would be around $7
After that we would be looking for price to move past $10 - $12
Short term targets > +30%
Mid term targets > +60%
Long term targets > +140%
Use small % capital we'd use 2-3% max
CAKE LONGS ACTIVE ๐๐๐๐ Expecting bullish price action on CAKE as price shifted the strucutre from bearish into bullish making (bos move) price retraced back into the W1/D1 imbalance and from there we can see a push towards bearish orderblock area on the D1. Market Sentiment in crypto for now is in a EXTREME FEAR meaning there is a good buying opportunity.
What do you think ? Comment below..
CAKE, the trendline BREAKOUT! Is PUMP still possible?PancakeSwap(CAKE) broke the trend line and tested it as support. This shows the strength of the buyer, but at the same time the volume has not increased. So, a local dump with a false breakout is possible, after which it is ok to open a long position with a profit risk of 1:5 or more!
Large volumes in the fall of the price show that someone has accumulated a position, therefore a local PUMP is possible.
Targets:
1. $9,20-9,40
2. $9,75-10
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P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade.
CAKE is Ready to Make Another Bullish MoveAfter successfully testing 8.40 region it is gathering strength to make another leg up where it will target 13$ area but before that it have to deal with the 200D EMA which can challenge it further. Currently its in a good buying zone but trade from this point will not lead directly to 13$ it might remain in range for few days.