CAKEBUSD (CAKE) - POSSIBLE PRICE ACTIONS ANALYSIS 🔎
- CAKEBUSD is consolidating in a symmetrical triangle pattern .
- A relatively big move is imminent.
POSSIBLE PRICE ACTIONS
- Uptrend ⬆️: breakout above the symmetrical triangle's inclined resistance and the horizontal resistance level (R1).
- Downtrend ⬇️: breakdown below the symmetrical triangle's inclined support and the horizontal support level (S1).
TARGETS 🎯
- Uptrend ⬆️: Horizontal resistance levels (R2, R3, R4).
- Downtrend ⬇️: Horizontal support level (S2).
CAKEBUSD
Long setup CAKE/BUSDPrice is currently forming a descending triangle pattern however this move is considered to be a physiological correction due to the recent pump and historical top creating an almost 50% drop.
Currently the price has found some support on the 0.618 Fib, and we can see that the selling power is getting weaker as a bullish divergence is forming on the MACD negative histogram.
Final Long setup confirmation would be at breakout and retest of descending triangle however we could also expect no retest as it is a pretty common situation in crypto markets to see breakouts without retests.
Hope you like it :)
🆓PancakeSwap/BUSD Analysis (27/2) #CAKE $CAKECAKE is moving sideways around 11.5$ zone and with the support of MA50 line of 8H timeframe so we can expect a recovery from here to 14$ zone in the next few days.
14$ zone is very important and a selling force may be exist here to dump it to 7$ zone. But if CAKE conquers this zone successfully, CAKE will move up to 19$ zone easily
📈BUY
-Buy: 11.2-11.8$. SL if B
-Buy: 13.7-14.3$ if A. SL if B
📉SELL
-Sell: 13.7-14.3$. SL if A
-Sell: 18.5-19.5$. SL if A
♻️BACK-UP
-Sell: 11.2-11.8$ if B. SL if A
-Buy: 6.7-7.3$. SL if B
❓Details
Condition A : "If 8H candle closes ABOVE this zone"
Condition B : "If 8H candle closes BELOW this zone"
CAKEUSDTThis is my first look into PancakeSwap token also called CAKE
Launched on Binance Smart Chain . The hottest blockchain right now.
It made an ATH on debut on Binance exchange of $18
Been on a downtrend ever since to find balance, solid base where it can begin a definite move.
I guess many FOMO'd buying top on launch, while whales traded gains on Long and Short .
Downward trend found balance at near $10.
Volume show down trend accordingly.
RSI similar trend since launch.
Major Milestone on chart for CAKE to work out . Once overcame, it start ascending journey.
Hopefully BTC does not pressure it to break below $10.
Overtime CAKE is good choice.
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We all know that March is coming. But what about the new #DeFi?It's true.
We all know that historically, March is a bad month for $BTC and the crypto space in general.
But, could this be different for the new (and probably much more stronger) wave of DeFi platforms ?
The Binance Smart Chain came to stay, that is out of the question. Also, we've seen a huge rising on the use mainly due to the failure of Ethereum and their Gas Fees.
Pancakeswap has been working on expanding their presence and so far it's going smooth. Their Idea of bringing NFT's, plus a gamification based in profile, earning points by completing tasks, among other things is a well placed strategy for the booming in the following months.
Based on that and on some well-know flag patterns I see that $Cake will see a new ATH soon.
Will you stack your pancakes? 🍯🍯🍯🍯🍯
Hurry up!
CAKE busd - will it push past the combined 1&4 hour resistanceEMA is settling down, buying trading volumes are rising.
The challenge for Pancakeswap is the combined 1 & 4 hour resistances.
bull market approach very bullish on cake. new features soon very bullish on this project
today I also bought on FTX $RAY
de-fi swap on Solana with 0.0006$ fees. this can be huge
CAKE busd to rise out of the triangle slice?Steep decline on the 1h chart of CAKE price.
However, there is still an upward trend on the 1h support line.
Will we see a break out?
CAKE's pump is awesome!...is there another 100% pump coming?Hello Traders!
Wow, what a serious pump from PancakeSwap's native token CAKE, wish I was a part of this earlier. But as they say, the trend is your friend, until it isn't ;)
I know I am posting this one a little late re: the entries but even now, the entries and setup remain valid and price has been accumulating in our entry zone. Volume on this pullback is decreasing and the Correction Channel is picture perfect with the Median Line bounce.
This has set up to be quite a high probability trade! Entries below...
ENTRY 1: 14.9 (already triggered)
ENTRY 2: 13.7 (already triggered)
STOP LOSS: 12.25
TARGET 1: 24.5
TARGET 2: Trailing Stop
Let me know if you are joining me in these trades! The R/R is definitely worth it and I hope some of you are finding value within these posts.
Happy Trading, always manage risk.
CAKE to $14!!Don't miss this great opportunity!PancakeSwap is the most used #DeFi product on BSC right now!
In the past week, PancakeSwap has seen its user base grow over 36%, reaching 54.4k active wallets
Another keynote:
Proposal for Lottery Changes + Emission Reduction listed on
voting.pancakeswap.finance
Message me for more info or live daily trading with me on tradingview or chat for free.
CAKE/USD - Have you seen RSI at 100 before? Here it is!🚀Look at this chart... what do you see? 20x in 1 month...
RSI at 98... holy #@$%.
This is a testament to the DEFI growth on Binance Smart Chain and BNB also shows a similar growth in January/Feb... BNB is now 3rd largest coin if you exclude USDT.
From a technical perspective, MACD is as bullish as it gets... RSI is curving slightly as does volume. So I expect some form of sharp correction to cool-down this rally at some point. I do not know when this can happen as this can continue to go up as long as adoption of BSC, BNB and PancakeSwap continues to grow exponentially with refugees from ETH network that are sick to pay $50 for a swap.
Quite an unique chart. Congrats if you bought under $1.
Like and follow if you liked this idea! Also join my crypto community to stay in touch!
CAKE / BUSD breakout on binance: I bought the topADDING to my small position on CAKE / BUSD pair on binance, breakout of base.
Looks like a good breakout. I bought near the top of this breakout with a 13% stop. Risky? Yea but there's a lot of momentum behind CAKE and BNB (binance) now.
Profit taking target is probably 1/4 or 1/3 at 30%+, and letting it ride depending on market conditions.
CAKEBUSD - Quo Vadis? Bullish Idea - 225% up?Ok friends, time for an update. I do not have a pro account, hence, publishing my updates separately.
- RSI Bullish
- MACD Bullish
- Broke the trend line and we wait for a retest here
The targets seem crazy at first, but this one seems to follow sushi, uni and co. IFO listings, lottery, farming, staking, swapping. A good alternative to uniswap with small fees. With a little bit of volume this baby will blow through the resistances. Watch!
CAKE - POSSIBLE BULLISH SCENARIO- POSSIBLE BREAK OF SYMMETRIC TRIANGLE.
- BIG RESISTANCE ZONE IN 0.5, 0.618 OF FIBBO EXT.
- BIG SUPPORT AROUND 6.
- NEXT TARGET AROUND 11.
- FIBBO 1.618 = 26.6
Cake usdt will rise againSlight cooling of the cake after large candles.
Cooling down of cake ema and slices taken off trading volume.
Expect to see more cake action.
CAKE busd to climb to the $6.50 areaGood strong growth from CAKE.
Slight slowdown on the 1h chart but EMA still trending strong.
Pancake Swap TrendThe last month has been quite a ride for the easily accessible swaping and staking platform "PancakeSwap". Here we can see in a 4 day cycle they have had a steady increase of 78% up to a maximun 123%. Since the platform hasnt reach its full potential and if it keeps following this trend. It will pass by uniswap in the following month to come. Give it atleast 3 more cycles and we could see the price increase anywhere from $10 to $25. Since the platform burns excess coins by lotery and has an easy to understand platform. They also have pools with 100%+ APY with extremely low fees that help increase value.
If your new to the crypto world, do not jump quickly into a swap. First dip your toes with simple exchanges and once you feel you have a firm understanding, concentrate your attention to platforms like PancakeSwap. BINANCE:CAKEBUSD
CAKE busd to come back down to 4h support levelCAKE busd to come back down to 4h support level.
Slow down of trading and declining EMA.
CAKEBUSD - Neutral, with potential reversal signsTo keep myself accountable and keep practicing my TA I'll be charting the top 100 crypto's by marketcap over the coming fews days. Any feedback and tips are welcome.
Trend: bullish (HH, HL), but getting harder to make HH with reducing volume
Note:
- Hard to get a read on this chart. Potentially forming a rising wedge that could break down.
- Volume decent, but decreasing
Trade:
- No clear trade that I see.
- Could continue upwards if we break/close above 4H resistance. Would trade the breakout and retest
- 3 decent wicks above resistance tho, buyers could be getting exhausted and we could retrace to 0.618/D1 support level
