CakeI think cake is ready for new rally.usually ascending triangle is a continuation pattern. Just wait for break up. Good luck
CAKEUSDT.P trade ideas
cake
In the weekly time frame, it is quite clear that the candles are compressed below the key line, and this area will clearly be the solution for the change of the downward phase to the upward phase in the time of the depression.
My personal opinion is that this will happen and after the break of this area the targets of $4 and $5.5 will be available.
CAKEUSDT - BULLISH OUTLOOKCAKEUSDT is presenting a potential trading opportunity based on recent price action analysis, particularly on the 4-hour timeframe, where a bullish divergence on the RSI indicates a potential reversal for a bullish trend. Here's a concise analysis and trade plan:
Entry: Consider entering a long position at $2.40
Stop Loss (SL): Set the stop loss at $2.10 to manage potential downside risk.
Take-Profit Levels:
TP 1 @ 1:1: Aim to exit at = $2.70
TP 2 @ 1:2: Consider exiting at = $3.00
TP 3 @ 1:3: Target an exit at = $3.30
After reaching the first take-profit level, consider adjusting the stop loss to the entry point (breakeven) to secure profits and minimize further risk.
This trade plan is designed to capitalize on the identified bullish divergence on the RSI, suggesting a potential reversal in the bullish trend. Managing risk through a stop loss and implementing a breakeven strategy after the first take-profit level aligns with a prudent trading approach. As always, staying informed and adapting to market conditions is crucial for successful trading.
#CAKE/USDT - Long - Potential 87.70%Strategy: Long
Exchange: BINANCE
Account: Spot
Entry mode: DCA Limit
Invest: 2.5%
Exit:
• ⎿ Target 3 : 4.73 96.84%
• ⎿ Target 2 : 3.949 64.34%
• ⎿ Target 1 : 2.905 20.89%
DCA Entries
• ⎿ Entry 1: 2.507 - 50%
• ⎿ Entry 2: 2.294 - 50%
• ⎿ Current market price: 2.507
Stop Loss: 1.692 (-29.59%)
Technical indicators:
• ⎿ 24h Volume: 64942633.53774
• ⎿ Satoshis: 2.507
• ⎿ Analysis: TradingView
The dominance cycle in crypto is pretty well defined now, BTC pumps and the profits booked in BTC start filtering through the market as traders speculate on smaller cap assets following BTC's lead.
CAKE is well placed in this cycle both as a mid cap in its own right and as a necessary utility token to facilitate the trading of much smaller caps.
Couple of technicals on the weekly chart, 20 & 5MA's above the 200MA, continuation of a breakout (white diagonal) and the possibility of a cup and handle developing.
The project itself is also expanding with multichain simple staking launching in Q4 and I feel like DEX's will gain a lot of traction in the coming bull run with the 'regulated' sterilisation of the CEX's (and mainstream crypto in general) forcing those looking for more 'fun' investing to explore the swap sites. For me investing in Cake is a way of getting exposure to meme tokens without having to take the risk of selecting them (increasingly difficult).
Definite room for a retrace here (again the possibility of forming a cup and handle), with rejections at 2.823 hence the DCA entries but accuracy isn't really important here as much as just getting into an asset with massive upside potential over the next 6 months.
Pancake Swap (CAKE): Potential Re-Claim Of FVG Zones. In the 4-hour chart of CAKE/USDT, we see a clear consolidation pattern taking shape. The market has formed multiple FVG (Fair Value Gap) zones, suggesting significant price interest areas. The recent price movement has struggled to maintain upward momentum, hitting a resistance level at approximately $2.85.
The price is currently staying above a series of unfilled FVG zones, with the closest being around $1.77. These gaps often act as magnets for price and could suggest downward movement if the market does not sustain current levels. Moreover, the presence of multiple FVG zones below the current price may increase the likelihood of a chain effect, intensifying the potential drop if initiated.
bakeusdtbakeusdt can move downtrend and tuch tp1,2
enter after breakdown and pull back to order block
🍰 CAKE: Breaking Down Trend ! In the dynamic world of cryptocurrencies, PancakeSwap's token, CAKE, is displaying promising signs of a trend reversal. Trapped within a descending channel, CAKE is gearing up for a potential shift in momentum. Let's delve into the chart dynamics and explore the key levels that might mark the beginning of a bullish journey.
Chart Analysis: CAKE's Descent Channel and the Turning Tide
CAKE's recent journey has been characterized by a persistent descending channel, reflecting a bearish trend. However, recent developments suggest a potential reversal, with CAKE eyeing a breakout.
Key Observations:
Descending Channel Analysis:
CAKE has been trading within a well-defined descending channel, signaling a period of consolidation and bearish sentiment.
Recent price action indicates a desire for a shift in trend dynamics.
Bullish Indications:
Emerging bullish signals suggest that CAKE is preparing for a trend reversal.
Traders are keenly observing key resistance levels that could validate this anticipated shift.
Critical Levels: CAKE's Journey to Breakout
Key Resistance at $5-6:
CAKE faces a crucial hurdle in the form of a resistance zone between $5 and $6.
A successful breach of this level, followed by a retest, could serve as a definitive bullish signal.
Potential Scenarios: CAKE's Path to Bullish Terrain
Breaking the Barrier:
CAKE's ascent hinges on its ability to overcome the resistance zone.
A decisive breakout could trigger a cascading effect, attracting bullish momentum.
Retesting for Confirmation:
Post-breakout, a retest of the breached resistance turned support would add confirmation to the bullish narrative.
Traders should closely monitor these price dynamics for strategic entry points.
Trading Strategy: Positioning for the Bullish Surge
For traders gearing up for CAKE's potential bullish run:
Target Key Resistance: Identify entry and exit points around the critical resistance level.
Confirmation and Caution: Confirm the breakout with volume analysis and exercise caution in volatile market conditions.
Long-Term Vision: Consider the broader market context and long-term trends for comprehensive decision-making.
Conclusion: CAKE's Conquest and the $5-6 Frontier
As CAKE endeavors to break free from the descending channel, the $5-6 resistance zone emerges as the battleground. Traders and investors alike are poised for potential bullish developments, awaiting confirmation signals for strategic market participation.
🍰 CAKE Analysis | 📈 The Quest for Bullish Reversal | 🎯 $5-6 Resistance Zone
❗See related ideas below❗
What are your insights on CAKE's impending breakout? Share your analyses, predictions, and strategies in the comments, contributing to the collective knowledge of the crypto community. The journey from descent to ascent presents an exciting narrative for the PancakeSwap faithful. 🚀🥞💚
CAKE UP TO FIBONACCI LEVELS BINANCE:CAKEUSDT , Has been bearish for a long time, now our projections are Bullish by breaking the fibonacci resistance levels now.
The price now got a rejection for the 38% level, but the volume and the last candlesticks show buyers supporting the levels, in the short term we can wait for another trying on braking the 38%, and go up to the 50% level, the second objective is the 61% on 3.769 price
This second objective seems more accurate and probable.
CakeLooking at the tick chart, we can see that it had a very long and heavy fall, but after the end of the fall, if you see the daily and weekly volume of this currency
resistance and support in CAKEUSDTYou can see the support and resistance ranges in the picture. If the supports are lost, these levels will become resistance ranges and vice versa, that is, when the resistance range is broken and these ranges are stabilized, they will become support ranges.
CAKEUSDT.1DBased on the provided market data, the CAKE/USDT pair is currently trading at $2.444. The Relative Strength Index (RSI) over 4 hours is 46.19, which is relatively neutral. This suggests that the asset is neither overbought nor oversold. The Moving Average Convergence Divergence (MACD) for the same period is at -0.011, which indicates a bearish signal, as the MACD line is below the signal line.
The Bollinger Bands (BB) 4-hour value is at 2.443, which is almost equal to the current price. This suggests that the price is fluctuating near the middle band, indicating a sideways movement.
The first, second, and third support levels over 4 hours are at $2.276, $2.049, and $1.780 respectively, while the resistance levels are at $2.746, $2.828, and $2.293 respectively.
Looking at the 1-day data, the RSI is at 61.18, indicating a bullish momentum as it is above 50. The MACD is at 0.264, which is a bullish signal. The BB value is at 2.811, which is higher than the current price, indicating a potential upward movement. The support levels are at $2.198, $1.666, and $1.280, while resistance levels are at $2.857, $4.009, and $4.719.
As for the 7-day data, the RSI is at 67.78, indicating a strong bullish momentum. However, the MACD is at -0.0055, which is a bearish signal. The BB value is at 2.930, which is higher than the current price, indicating a potential upward movement. The support levels are at $1.507, $1.083, and $0.650, while resistance levels are at $4.075, $4.810, and $5.490.
In conclusion, the short-term (4-hour) indicators suggest a bearish or sideways trend while the medium (1-day) and long-term (7-day) indicators suggest a bullish trend. It seems that there might be some short-term downward or sideways movement before the price potentially starts to rise again. Please note that this analysis is based on historical data and does not guarantee future performance. Always do your own research and consider your risk tolerance before making investment decisions.
CAKE Buy scenario CAKE breakout done from the ceiling of the Falling wedge pattern on Weekly time frame,now its ready for more pumps
cakecake technical analysis basically on elliott waves Principles and priceaction strategy
cake can be grow up to 21$
wait and watch
Potential bullish break outCAKEUSDT just ended wave 4 of lower TF impulse wave huge possibility for upside action. Target 3.30, stop 2.26
CAKEUSDT: BearishCAKEUSDT.P is in Bearish Trend, due to make a strong Bearish Divergence. and Could not Break the HH's. So we can wait for Break the Nick Line to confirmation of the Brearish Trend.
CAKEUSDT"As we enter the bullish season, the initial target to aim for is
target : 20 🎯.
This is based on a combination of technical analysis indicators and market trends.
However, it's important to approach trading with caution and adapt to changing market
conditions.
Keep an eye on key support and resistance levels, as well as any significant news or events that may impact the market.
Remember to use proper risk management techniques and consider setting profit targets along the way.
Happy trading!"
CAKEUSDT -In a Bullish TrendHere i can set tp1 and tp2 and the market is up trend so here you can open spot position
CAKEUSDT Idea⚠️ Disclaimer: The following insights reflect my personal perspective on the market, relying on publicly available information and historical data. While some opinions stem from my actual trades, others do not. I am not a financial advisor, and I bear no responsibility for your trading choices.
✅ Feel free to reach me out with any questions or recommendations. I am more than willing to assess and analyze any currency pair or index that piques your interest.
BINANCE:CAKEUSDT EIGHTCAP:CAKEUSD
CAKEUSDTBINANCE:CAKEUSDT can pump more than you think
⛔"Daily crypto market analyses I provide are personal opinions & not financial advice. Trading carries risks, so do your own research & seek advisor's help.#DYOR"
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CAKE long idea I'm looking for a bullish consolidation above the EMA 200 in daily chart
Should take a week or two for it to complete and have a nice pump if price keeps on consolidating Above it! Important or else it's invalidated
NFA dyor
Don't follow blindly I'm just sharing what I'm seeing
CAKEUSDT Elliott Waves Analysis (LONGTERM)Hello friends.
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Everything on the chart.
Waiting for last upward movement in zone 2.8 - 3$, then will be deep correction.
Targets: 5
after first target reached move ur stop to breakeven
Stop: ~1 (depending of ur risk). ALWAYS follow ur RM .
RR: 1 to 14
risk is justified
Good luck everyone!
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