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$ BAKE | How do I expect to see BAKE in coming weeksBINANCE:BAKEUSDT Here with another speculation about crypto assets. This time Bakery token with BAKE ticker. Let’s take a look at the project’s information: Bakery swap is one the DEXes that is active on Ethereum, Base and Binance smart chain and covers token swaps, NFT swaps, pools. Tbh, I couldn’t find any advantages for bakery swap over other DEXes. But the technical perspective makes this token interesting. $ BAKE Market Cap: $ 114 m Market Cap Rank: 479 Market Price: 0.396 $ ATH: $ 8 (-95%) ATL: $ 0.007 (+5435%) Technical highlights: - W1: Trend: (I believe in channels!) Price has been in a descending channel for most of its crypto life, but things have changed since last week. The day that the price managed to break the upper bond of its descending channel after 3 time rejection. Currently, with one day left until the weekly candle close, the chart is printing 3 white soldiers. Let's keep this as a positive point for possible uptrend continuation and move for the next hints. Dec 2023 price made a local high and Nov 2024 was the higher low of this trend. Price bounced several times from $0.21 to $0.26 to prove it as a good support/demand zone. Not to mention that the first higher low in W1 printed by bouncing from that support. MA: Price holding above MA20 and A50. In the weekly time frame, MA50 at 0.315 can act as support but since it’s never been tested after breaking, so I cannot rely on that just yet. On the other hand, in the daily time frame, MA20, 50, and 200 are located at almost the same price ($0.28 to $0.32). Now this area gets more interesting to me for possible S/R test level. RSI: The value is around 62 and is strong in the weekly time frame, which supports the trend direction. The RSI value in the daily time frame is 74 and it's in an overbought condition. So, I think there will be a cooldown soon and the above-mentioned level will be the candidate for the pullback. Stoch RSI: The Stochastic RSI is in the overbought zone, just like the RSI. That's another reason to expect a retracement. Volume: The volume is not so good and looks weak. That suggests a retrace in my opinion. In my point of view, channels play an important role in trend direction and targets. Each time the trend breaks a channel, a move toward the direction of the breakout with the size of the channel will mostly happen. Supports: $ 0.315 Ma50 in W1 $ 0.275 Ma20 in W1 $ 0.21 ~ $ 0.26 Demand zone Resistances: $ 0.47 ~ $ 0.50 D1 Supply zone $ 0.90 Range high $ 1.10 W1 Supply zone $ 1.45 $ 2.50 Channel upper boundary $ 2.80 W1 Supply zone Conclusion: All these opinions are mine and can be wrong, so please DYOR. This token is a low cap and low caps are mostly volatile in bull runs. I expect sharp moves in the way to its final targets in both ways. This will make it more of a risky trade. So I will be more cautious and will surely manage my position size according to my strategy. I recommend you to do the same. **I need more energy to carry on and comes from your support!. don't forget to hit boost, share and comment your point of view with me** My strategy goes as below: 🛒 Pair: BAKE/ USDT 🛒 👑 Bitcharge 👑 🕰 07/12/2024 🕰 POSITION: 🟢"Buy"🟢 2 % of capital 🛒 Buy: $ 0.270 – $ 0.315 🛒 👉Sell Targets👈 🎯TP1: $ 0.36 🥉 🎯TP2: $ 0.39 🥈 🎯TP3: $ 0.46 🥇 🎯TP4: $ 0.52 🚁 🎯TP5: $ 0.65 ✈️ 🎯TP6: $ 0.72 🚀 🎯TP7: $ 0.89 🛰 🎯TP8: $ 0.96 🛰 🎯TP9: $ 1.05 ✨ 🎯TP10: $ 1.25 ⭐️ 🎯TP11: $ 1.45 💫 🎯TP12: $ 2.10 🪐 🎯TP13: $ 2.80 🌞 ⛔️ SL: $ 0.1950 ⛔️ by closing D1 Below --Stay rich--
Long
by bitcharger
2
BAKE NEW UPDATE (1D)This analysis is an update of the analysis you see in the "Related publications" section Given the positive news in the crypto market, the diametric scenario and further time-price correction seems to be canceled, and instead of the diametric, we now have a triangle. As long as it maintains the green zone, it can move towards the targets. Closing a daily candle below the invalidation level will invalidate this analysis. 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
by behdark
3
What will happen to BAKE?From the place where we placed the red arrow on the chart, it seems that the BAKE correction has occurred. This correction looks like a diametric as we are now in wave E of this diametric. In the green range, wave E is expected to end and then we enter wave F. We are looking for buy/long positions in the green range. Closing a daily candle below the invalidation level will violate this analysis For risk management, please don't forget stop loss and capital management Comment if you have any questions Thank You
by behdark
1
BAKE ANALYSIS (1D)The past few days, when the whole market dropped, BAKE experienced a slight drop. How BAKE will be Boolean? According to BAKE, it has the ability to rise up to the specified supply range, but in this range, you can look for a sell/short position. tp can be the range of Demand. Closing a daily candle above the invalidation level will violate the analysis. 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
by behdark
3
BAKEUSDT.1DThe chart you've shared for BAKE/USDT on the daily timeframe offers a comprehensive analysis of BAKE's price action, highlighting key resistance and support levels and incorporating the MACD and RSI indicators. Here's my detailed analysis: Current Situation Price Level: BAKE is currently trading at $0.3488. Recent Price Action: The chart reveals a volatile but somewhat stabilizing pattern after a steep decline earlier in the year. Support and Resistance Levels Resistance Levels (R1 and R2): R1: $0.4060 R2: $0.5318 Support Levels (S1 and S2): S1: $0.2872 S2: $0.1872 Technical Indicators MACD: The MACD is showing a slight bullish momentum as the signal line is below the MACD line, suggesting potential upward price movement. RSI: The Relative Strength Index is at 58.61, which indicates that the asset is neither overbought nor oversold, offering room for movement in either direction without immediate pressure from overvaluation or undervaluation. Analysis and Conclusion The current market structure for BAKE suggests that the price has been recovering from its previous lows and is now consolidating around a mid-level between its established support and resistance. This indicates a cautious optimism in the market, possibly waiting for further cues to define the direction. Trading Strategy Bullish Scenario: If BAKE sustains upward momentum and breaks through the resistance at $0.4060, it could potentially move towards the higher resistance at $0.5318, indicating a strong buying interest. Bearish Scenario: Should BAKE fail to hold the current level and breaks below $0.2872, it could see further decline towards $0.1872, reflecting increasing selling pressure or lack of buyer interest at higher levels. Final Thoughts As an investor or trader, it's essential to watch how BAKE interacts with these critical levels. A proactive approach would be to set stop losses just below $0.2872 for risk management, and consider taking profits near resistance levels if entering long positions. This analysis should be supplemented with ongoing assessment of market news and overall crypto market trends to adjust strategies accordingly.
by MarsSignals
BAKE Technical Analysis in a 2-Day TimeframeHello everyone, I’m Cryptorphic. For the past seven years, I’ve been sharing insightful charts and analysis. Follow me for: ~ Unbiased analyses on trending altcoins. ~ Identifying altcoins with 10x-50x potential. ~ Futures trade setups. ~ Daily updates on Bitcoin and Ethereum. ~ High time frame (HTF) market bottom and top calls. ~ Short-term market movements. ~ Charts supported by critical fundamentals. Now, let’s dive into this chart analysis: BAKE is at the resistance trendline of $0.33 and is attempting to break out. The 50 EMA provides strong support for BAKE, and if it continues to hold, we could see a bullish move soon. With 18 hours left for this 2-day candle to close, BAKE needs to close above the resistance trendline for a bullish reversal. On the downside, if BAKE gets rejected, the 50 EMA serves as the first line of support, followed by the lower support range between $0.1653 and $0.2226. Key levels: - Resistance: $0.333 - Primary Support: 50 EMA ($0.2995) - Lower Support: $0.1653 to $0.2226 - Target: $0.9062 DYOR, NFA. Please hit the like button to support my content and share your thoughts in the comment section. Feel free to request any chart analysis you’d like to see! Thank you! #PEACE
by Cryptorphic
BAKE: Breakout will push price by 200%#BAKE/USDT #Analysis Description --------------------------------------------------------------- + BAKE has repeatedly retested a key support zone, demonstrating resilience as the price continues to hold strong at this level. The latest test of this support presents a potential opportunity for a bounce back. + Multiple Retests: The price has tested this support zone multiple times, each time holding firm, which reinforces the strength of this level. + Current Setup: The price has once again hit the support, and we anticipate a bounce back from this zone, offering a favorable setup for a long trade. + Trade Opportunity: Given the consistent strength of this support zone, entering a long position with a target based on the expected bounce could be a promising strategy. --------------------------------------------------------------- VectorAlgo Trade Details ------------------------------ Entry Price: 0.2918 Stop Loss: 0.1790 ------------------------------ Target 1: 0.3442 Target 2: 0.4085 Target 3: 0.5613 Target 4: 0.8131 ------------------------------ Timeframe: 1W Capital Risk: 1-2% of trading amount Leverage: 5-10x --------------------------------------------------------------- Enhance, Trade, Grow --------------------------------------------------------------- Feel free to share your thoughts and insights. Don't forget to like and follow us for more trading ideas and discussions. Best Regards, VectorAlgo
Long
by VectorAlgo
BAKEUSDT Critical Levels to Watch for the Next Big Move! Yello, Paradisers! Are you prepared for the next big shift in #BAKEUSDT? This analysis is crucial if you want to stay ahead! 💎#BAKE appears poised to test its strong demand zone, potentially creating new momentum for a significant upward move. However, success hinges on several key factors: 💎If BAKE reverses from the strong demand zone, it must break through the resistance at 0.3138 to continue its upward trajectory. 💎Should BAKE fail to break the resistance, it might either trade sideways between the strong demand and resistance levels or consolidate further in the order block (OB) area. If the latter scenario holds, it could lead to a robust bullish reversal and eventual resistance breakout. 💎If BAKE fails to rebound at the OB area and remains sideways, it signals trouble. The bullish scenario is invalidated if BAKE breaks the key support and closes below 0.309 daily, increasing the probability of further downward movement. Treat the market as a businessman, not as a gambler. MyCryptoParadise iFeel the success🌴
Long
by MyCryptoParadise
1
BAKE Prints Bullish Crossover — 36% Potential + Solid Backtest RBakeryToken flashed a bullish MACD crossover on the daily chart. Based on backtests, the signal provides a solid win rate of more than 90% for 2% and 5% gains. Even for 10% gains, the win rate is more than 82%. Additionally, the trend indicators are entirely bullish across all timeframes. Momentum indicators are neutral, which further backs the bullish setup. Summarized, indicators signal a super interesting scenario for an entry.
Long
by ben_walther