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CAKE

CAKEUSDT --> it NEEDS to break this trend line!Cake is desperately trying to break this trendline, it needs to break it to go higher, its failed it many times now. Its a bearish pattern of sequential lower highs that is starting to squeeze price. $9.5 is major support, $8.3 is the last line of defense. BTC revisiting 28.8k and going lower may very well break CAKE's back and most of the ALTcoin market :( I see a descending triangle pattern but technically I don't think it meets the criteria, as most ALTs do CAKE is roughly following BTC price action, most alts look similar so we cant take much significance in ALT charts unless major divergence is shown.
Short
by tommytoan11
🔥 CAKE Bullish Triangle: Break Out SoonJust like in my BNB analysis, CAKE has formed a nice bullish triangle pattern over the last week. Currently, CAKE is sitting at the lower trend line where it can either bounce off, or fall though. After a sell-off earlier today, BTC appears to regain some strength, which is naturally great news for alts. Nevertheless, the triangle break out direction will depend on BTC. If BTC manages to break through 36k or higher, we can finally see some more gains for CAKE. However, a bearish case could launch CAKE back towards $12 or lower. Keep a close eye on BTC when trading alts. Happy trading!
by FieryTrading
13
🟢 NEW POSITION $CAKE Target 62.72 for 20.15%🟢 NEW POSITION $CAKE Target 62.72 for 20.15% Or double position at 1.68 — On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average. I start every position with 1% of my account and build from there as needed and as possible. I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed. GL and happy trading. I finally added my YouTube Training Video to my profile tagline since I’m not allowed to on here. It’s a quick 15 minute training video on how to set up your chart and how to spot opportunities. So check here first but If you have questions just message me.
NASDAQ:CAKELong
by SPYder_QQQueen_Trading
🔥 CAKE Potential Horizontal Channel BounceCrypto is currently seeing a rather big sell-off. We've currently lost virtually all of yesterday's gains. For bulls, this might be a great time to buy in again in case the market will resume the move upwards in the near future. CAKE is currently trading at the support of the horizontal channel, this might be a great time to trade the bounce. Don't enter the trade just yet, wait for confirmation of reversal. I'm looking at the $13 area for a potential bounce. Always keep an eye on BTC when trading alts. Happy trading!
Long
by FieryTrading
14
CAKE/USDT 4h simple analysis in 20th/JunHi, crypto traders. CAKE is in a Strong Downtrend now. The price continued to go down. It tried to break 20MA (blue) to the upper side, but bounced. Finally, the sequential order changed 60MA (green) > 20MA (blue) > 5MA (red) > the candle. It means the trend is a Strong Downtrend. If the price keeps under 5MA (red), this bearish trend continues. However, since MA lines are very close, the trend can change easily. If the price breaks all MA lines to the upper side, the trend will be an uptrend. We should wait and see the next trading timing today. ==TODAY’s Check Points== - The candle goes up and breaks all MA lines to the upper side? - The candle continues to go down and breaks 13.81USD? ==TODAY’s Target Price== CAKE goes up: 1st target: Cross-point with MA lines (5MA, 20MA, 60MA) 2nd target: 18.62USD (the last highest price) 3rd target: 21.53USD (the highest price in 3rd/Jun) CAKE goes down: 1st target: 13.81USD (the lowest price in 30th/May) 2nd target: 10.00USD (a nice round number) 3rd target: 9.45USD (the lowest price in 23rd/May) Enjoy your trading.
Short
by Bot_Muto