CAke, now wave 2Looks like cake is going to make a wave 2 to the 382 fib.
From there ill jump in to finish the wave 3
CAKEPERP trade ideas
PancakeSwap _ Wedge Pattern Breakout _ Biggest Profit (+1,282%)Falling Wedge Pattern formed and Breakout and also reached 0.6 Fibonacci Retracement level. Now going to Uptrend and Resistance level is the 1st Target. Offering a chance to Achieve Biggest Profit of (+ 1,282%) Percentage. This is Long-Term Analysis, must follow the Trend Continuation Technique. Guess the 3rd Target ?????
Follow & Support me; I want to Help People Make PROFIT all over the "World".
Cake , fasten your seatbelt Dexs will be a top narrative amid bullrun and one of my top picks will be the cake , my tp for the altseason be around 22$ which is close to 1k profit .
Green rectangle will be super buy .
Dyor
CAKE: Will it go back to $1.50?Pancakeswap was originally built on the BNB Chain and allows users to trade tokens without using a centralized exchange. It provides an array of products, such as:
An exchange to swap tokens
A yield farm to earn rewards
Syrup pools to stake CAKE tokens
Ethereum liquid staking (wBETH) and simple staking
Pancake Protectors game
v3 position manager (new feature)
A prediction market
Initial Farm Offering (IFO) token launches
A bridge to bridge CAKE to Ethereum and Aptos
A lottery
An NFT marketplace
PancakeSwap (CAKE)PancakeSwap is an automated market maker, a decentralized finance application that allows users to exchange tokens, providing liquidity via farming and earning fees in return. Cake's price rose as its popularity did; then cake entered a corrective phase, a long one. It seems cake's price is headed toward the Fibonacci's golden pocket 0.618-0.65 area. Let's see if price can reverse from this area or goes down further.
CAKE is about to give one HUGE birthday surpriseChart is marked with targets
Yes, I realize the targets that I've marked
When it crashes, it might be BIG.
It won't make it to 25 without retracing on the way up.
I could see it top out around 6.9 in an alt coin pump
Personally, I'm quite bullish on this coin.
CAKEUSD/PANCAKESWAPHello fellow traders and investors, from a Dollar of NASDAQ:CAKE price rise to 3$, Not explaining too much, this is only my POV on charts, we might test first 12$.
I will update once price goes there, Trade it or Buy it.
This is not a financial advice, Follow for more.
We are not in bearish. but the index still high on crypto, around 70+
So either you hold it or leverage it.
PANCAKESWAP #CAKE Bull Flag pointing to ~ $7Cake is the yield farming incentive token and major LP pair on Pancakeswap
And was a major winner in the last cycle
People were buying Rolex's off cake rewards from pools alone!
So it's bear market is clearly over.
And the chart appears a #DEFI season is upon us.
Current price action suggests a Bull flag.
Entry points matter - but bull markets correct mistakes if you are long.
Good luck to all.
Cakeusd weekly To the MoonAccording to our analysis of the BNB/USD chart and the Cake/BNB ratio,
It can be expected that the price in the Cake/USD chart will continue its wave C to the range of 200-600 in the weekly time frame in the form of a three-wave ABC.
Target: 100-200-400-600
CAKE → Three Pushes Up! Will We Reverse to $2.84? Let's Answer.CAKE (Pancakeswap) completed its third push to the upside and rendered four Daily candles in a row with large wicks on the top. Today's close marks the fifth. Does that mean we're in for a drop?
How do we trade this? 🤔
I believe a pullback here is imminent. That doesn't mean a short is justified, we are in a bull trend and our bias should remain long. However, the short-term signals like the three legs, 5 wicks on top, and a high RSI all indicate a pullback is here.
It's reasonable to short this on a lower timeframe like the 1HR but on the Daily, we should be looking for a long. Wait for the price to come back down to the $2.84 area and find support. We need to see a strong buy signal and confirmation bar to justify an entry. I caveat this proposal with the state of the crypto market as a whole, it's a pivotal moment that could spell a reversal which will likely drag CAKE down with it.
In summary, zoom into the 1HR timeframe to find a short, wait for a long entry opportunity at $2.84 per my description above.
💡 Trade Idea 💡
Long Entry: $2.937
🟥 Stop Loss: $2.64
✅ Take Profit: $3.53
⚖️ Risk/Reward Ratio: 1:2
🔑 Key Takeaways 🔑
1. Bull Channel with three pushes up, large wicks on third push.
2. Gap to Daily 30EMA.
3. Don't enter a trade here, need more price action.
4. RSI at 75.00 and above Moving Average. Supports Pullback.
5. Crypto Market at Pivotal Moment, Consider Reversal Possibility.
💰 Trading Tip 💰
You can trade any candle on the chart, the question is what trades are more worth your while and fit with your personality traits. First, understand how to analyze a chart, then understand yourself and how you best interact with your analysis such that you make money.
⚠️ Risk Warning! ⚠️
Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk!
Like 👍 and comment if you found this analysis useful!
A Dive into the Burn of 8,740,957 $CAKE Tokens worth $25 MlnPancakeSwap's Fiery Transformation
In a surprising turn of events, PancakeSwap, one of the leading decentralized finance (DeFi) platforms on the Binance Smart Chain (BSC), has just executed a massive token burn, incinerating a staggering 8,740,957 NASDAQ:CAKE tokens, equivalent to a jaw-dropping $25 million. This unprecedented move has left the crypto community buzzing with speculation and excitement.
The Burn Event:
On 8th January, 2024, PancakeSwap's blockchain explorer, BscScan, unveiled a transaction hash (TxID: 0xdddb22d7af19a36fa92342a9bc5c2bf82a6e3b8a843abcfbd45ac261c5e7ebb8), providing irrefutable evidence of the burn. The burn event is a strategic move by PancakeSwap to reduce the total supply of NASDAQ:CAKE tokens, thereby potentially enhancing their scarcity and value.
Unpacking the Numbers:
The burned 8,740,957 NASDAQ:CAKE tokens represent a significant portion of the total supply, and with the current market capitalization of PancakeSwap, this move could have profound implications. The token burn is not only a testament to the platform's commitment to its community but also a strategic maneuver to counter inflationary pressures and maintain a healthy ecosystem.
Implications for NASDAQ:CAKE Holders:
For existing NASDAQ:CAKE holders, this burn event may result in a positive impact on the value of their holdings. The reduced supply could potentially lead to increased demand, fostering a more favorable environment for price appreciation. The burn sends a clear signal to the market that PancakeSwap is actively managing its tokenomics to create long-term value for its community.
Community Response:
The crypto community, always quick to react to significant events, has expressed a range of emotions following the news of PancakeSwap's massive token burn. Social media platforms, forums, and chat groups are buzzing with discussions, analyses, and predictions about the potential market response. Some see it as a bullish signal, while others are eagerly awaiting PancakeSwap's official statements regarding the motivations behind the burn.
PancakeSwap's Vision:
PancakeSwap has been a pioneer in the DeFi space, offering a user-friendly platform and a wide array of features, including decentralized trading, staking, and yield farming. The recent token burn aligns with the platform's commitment to innovation and sustainability. It highlights PancakeSwap's dedication to creating a robust and valuable ecosystem for its users.
Conclusion:
PancakeSwap's decision to burn a substantial number of NASDAQ:CAKE tokens has injected a new level of excitement and anticipation into the crypto community. As the aftermath of this burn event unfolds, all eyes are on PancakeSwap to provide further insights and guidance on the potential impact on its ecosystem. The journey ahead for NASDAQ:CAKE holders promises to be an intriguing one, filled with opportunities and challenges as PancakeSwap continues to shape the future of decentralized finance on the Binance Smart Chain.
CAKE Price Aims for $5 This YearCurrent Trend: CAKE price shows potential for a bullish run, signaled by a morning star pattern.
Next Target: The focus is on surpassing the $4 mark, which could lead to a continuation of the upward trend.
Intraday Growth: CAKE experiences a 2.19% rise, trading around $3.60 and forming a bullish engulfing candle.
Pattern Significance: The formation of a morning star at the 78.60% Fibonacci level suggests a strong reversal potential.
Volume Concerns: The rally's sustainability is under scrutiny due to modest trading volumes.
Technical Indicators:
MACD: Threatened by a negative crossover, the current bullish pattern could avert this.
EMA: The 50D and 200D EMAs show an upward trend, ready to offer dynamic support if needed.
Bullish Outlook: The emerging trend and the Fibonacci analysis suggest a possible run towards $5.
Risk Factor: A potential bearish downturn could see prices dropping to around $3.16.
Overall Sentiment: The early 2024 trend for CAKE is bullish, with indicators favoring a rise above $4, possibly reaching $5.
CAKE → Strong Support at $2.14! Nearing Resistance and Drop?CAKE had a fantastic bounce off of the $2.14 support area and ripped to $2.92! We're close to the next resistance area of $3.135, what does that mean for our trade opportunities?
How do we trade this? 🤔
We're too close to major resistance to long on this timeframe (or any timeframe for that matter), we need to wait for either a break of that resistance level, or a break downward and rested the previous high price of $2.84. For this short setup to work, we need a strong sell response around the $3.135 area, breaking the price downward back into the $2.65 range. The price should either go sideways or re-test the previous high of 2.84 and fail. That failure will be depicted by a strong bear candle closing on or near its low. This will be our justification to enter a short position.
Take profits before we get near the Support Zone at a 1:2 Risk/Reward Ratio, around the $2.29 area with our protective stop above the previous high price around $2.90.
Wait for this pattern to play out, it's never wise to enter before we have sufficient evidence. That evidence gives us a higher probability that the price will behave in the way our analyses show us. Anything else is gambling!
💡 Trade Ideas 💡
Short Entry: $2.71
🟥 Stop Loss: $2.92
✅ Take Profit: $2.29
⚖️ Risk/Reward Ratio: 1:2
🔑 Key Takeaways 🔑
1. Established Strong Support at $2.14 Area, Bias to Long.
2. Look for Resistance at $3.135
3. Look for Reversal Trade Short, Strong Sell and Confirmation Candle.
4. Do not Long Here, Close to Support.
5. RSI at 70.00, above Moving Average. Supports Upcoming Resistance.
💰 Trading Tip 💰
Probability on the chart changes with every candle. The goal of an analysis is to illuminate the current trends, patterns, and candlestick behavior to determine the probability that the next candles will continue the trend. We can then draw trade ideas and determine good entries, followed by proper trade management if the chart doesn't pan out according to our analysis.
⚠️ Risk Warning! ⚠️
Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk!
Like 👍 and comment if you found this analysis useful!
Bullish breakout in CAKE price teases a jump to $5!Bullish Breakout: CAKE's price demonstrates a strong bullish trend following a symmetrical triangle breakout.
Challenging Resistance Levels: Currently challenging the $3.79 mark, CAKE's trend indicates potential for further gains.
Recent Surge: CAKE price saw a significant 21% increase, pushing past the $3.50 barrier.
Pullback Signals: The current intraday pullback suggests a potential exhaustion in buying pressure, raising concerns about a deeper retest.
Key Retest Level: The potential retest level is around $3.16, based on the 50% mark of the recent bullish engulfing candle.
Technical Indicators Positive: Both MACD and DMI indicators showcase strong bullish momentum in the ongoing trend.
Short-Term Pullback Opportunity: The intraday fall could present a buying opportunity for sideline traders.
Fibonacci Retracement Levels: A retest to the 61.80% level at $3.16 is plausible, with close support levels at $3.22 and $3.16.
Upward Potential: If the bullish trend maintains its course, CAKE could potentially scale to $4.47 or even $4.81 in early 2024.
Market Watch: The overall market trends and investor sentiment will play a crucial role in CAKE's price trajectory in the coming weeks.
CAKE → PancakeSwap Bull Breakout! What are the Price Targets?PancakeSwap executed a beautiful bull run and pullback, forming an arched pattern toward the 200EMA where we bounced and broke out! The price is in meander mode toward the upside on new support.
How do we trade this? 🤔
We do not have any signal candles or patterns to suggest the next move, any trade here carries a low probability of profit. If we long, our protective stop should be under the 200EMA which is a fair distance away. If we short, we have the 200EMA acting as potential support and where do we place our stop loss? The proper place is above the previous high of over $2.84, which is a bad Risk/Reward ratio.
We should wait until the price falls to the 200EMA and the RSI comes down closer to 40.00 and starts to cross above the Moving Average. This tightens our stop loss and gives us enough room to 1:2 Risk/Reward our trade.
Until then, let's see how the price action plays out. FOMO (Fear of Missing Out) is your worst enemy. This is where you enter the market prematurely, worried that you'll miss potential profits but instead, you end up in a bad trade. I find combating FOMO is best conceptualized as " You're making more money by not falling for the seduction of market profit ."
💡 Trade Idea 💡
Long Entry: $2.3037
🟥 Stop Loss: $2.1860
✅ Take Profit: $2.5395
⚖️ Risk/Reward Ratio: 1:2
🔑 Key Takeaways 🔑
1. Bull Trend Consolidating Pattern Complete. Bull Breakout.
2. Established New Support, Currently in Uptrend.
3. Wait for Pullback to 200EMA to consider long.
4. Do Not Long until we see Strong Bull Support after Pullback.
5. RSI at 53.00, below Moving Average. Supports Short.
⚠️ Risk Warning! ⚠️
Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk!
Like 👍 and comment if you found this analysis useful!
WIll CAKE Give A Breakout?Bullish Pennant Pattern Formation: CAKE shows a bullish pennant pattern in the daily chart, indicating potential for an upcoming breakout.
Sideways Trend Near $2.5: Despite a golden crossover, CAKE's price has been moving sideways, hovering close to the $2.5 mark.
Potential Breakout to $3.5: A breakout above the overhead trendline could propel CAKE's price towards $3.5.
Symmetrical Triangle Pattern: The current consolidation phase in CAKE's price is characterized by a symmetrical triangle pattern.
Bullish Trend Continuation Pattern: The price action suggests a bullish trend continuation, hinting at a possible rally if buyer sentiment holds strong.
Current Trading Price: CAKE is trading at $2.52, testing the trendline with bullish intent.
Technical Indicators - MACD and EMAs: The MACD indicates a crucial moment for PancakeSwap, while the 50-day EMA provides support.
Risk of Falling to Lower Support Levels: A failure to sustain above the support trendline could lead to a decline to $1.60.
Can CAKE price Flip Higher To Cross $2.74?Rounding Bottom Pattern with Neckline at $2.74: CAKE forms a rounding bottom pattern, indicating a bullish trend with a crucial neckline at $2.74.
Potential Bull Run Imminent: A trend continuation pattern in the daily chart suggests an upcoming bull run.
Breakout Rally to $3.5: If CAKE successfully breaks out, it could potentially rally to $3.5.
Marketwide Recovery Influence: The recent marketwide recovery, bolstered by Bitcoin's rise above $43K, is positively affecting altcoins like CAKE.
Overnight Jump and Resistance Approach: CAKE has seen a sharp overnight jump, approaching a significant resistance at $2.74.
Bullish Return of 13.71% in Nine Days: CAKE displays a bullish return in a short period, despite a recent intraday fall.
Current Trading Price: CAKE is trading at $2.49, with recent price action resembling a shooting star pattern.
Potential Setback Warning: The bearish candle formation warns of a possible setback that might disrupt the bullish pattern.
Growing Buyer Confidence: Increasing confidence among buyers may drive up PancakeSwap's momentum.
Technical Indicators - MACD and EMAs: A potential bullish crossover in the MACD and rising EMAs suggest a trend reversal.
Critical Support at $2: Maintaining price above $2 is crucial for CAKE's continued uptrend.
Risk of Decline to Lower Support Levels: Failure to sustain current levels could lead to a decline to lower support at $1.60.
Will CAKE Price Jump To $3.5?CAKE price signals a bullish reversal journey, setting the stage for a potential breakout rally.
Daily chart forms a cup and handle pattern, indicative of a bullish fightback for trend control.
Bullish pattern breakout could propel CAKE price to $3.5, fueled by a recent recovery phase.
Recent bullish candles hint at a reversal, attracting buyer interest above the crucial $2 mark.
Long-term trend reveals a cup and handle pattern with a neckline at $2.74.
RSI signals a bullish revival with a rounding reversal, suggesting growing underlying demand.
Current price at $2.32 with a 1.73% intraday gain, indicating strengthening bullish momentum.
Possibility of a bullish breakout beyond $2.74, while failure could lead to a drop to $1.60 support.
CAKE → Bounce to the Moon! Take Advantage of This Opportunity!PancakeSwap is bullish in more ways than one! The price is playing out a beautiful two-legged pullback after a strong bull run; an indicator that the bulls are in control and more upside is probable.
How do we trade this?
With a two-legged pullback after a bull run and the RSI above the Moving Average with room to spare on the upside, we have to remain bullish. We're missing one critical piece of the puzzle to enter a long trade; the bull signal and confirmation bars. The bull signal bar will have a long tail and a close on or near its high, followed by a strong bull candle closing on or near its high. The confirmation candle should close above the resistance line and re-test it as support. That would be the ideal long setup as depicted in my analysis.
This is a conservative long, taking profits just prior to the double top high. You could close half of your position and take profits at a 1:1 Risk/Reward and swing the remainder to a 1:3 Risk/Reward or until you see a sell signal. Trade depending on your strategy!
Be aware, we could also fail to break resistance and end up with a strong bear signal, completely changing our trading bias. Always be ready to change your bias and learn to recognize those signals.
Trade Idea
Long Entry : $2.26
Stop Loss: $2.02
Take Profit: $2.74
Risk/Reward Ratio: 1:2
Key Takeaways
1. Bull Trend Consolidating, Bias to Long.
2. Double Top followed by Two-Legged Pullback, Bullish.
3. Watch for Support at 200EMA.
4. Do not Long until Bull Signal Bar and Confirmation Above Resistance.
5. RSI at 53.00, above Moving Average. Supports Long.
You are solely responsible for your trades, trade at your own risk!
If you found this analysis helpful, click the Boost button and let us know what you think in the comment section below!
Can CAKE Price Sustain Above $2?Bearish Trend: CAKE experiences a substantial 22% drop in the last seven days, approaching the critical 50-day EMA, indicating a bearish trend.
Retest of Golden Crossover: The decline brings CAKE closer to a potential retest of the golden crossover, suggesting a pivotal moment for price action.
Potential Reversal: A bullish reversal from the $2 mark might propel CAKE above $2.75, following a previous high-speed bull sprint above the psychological $1 level.
Volatility at $2: CAKE's price showcases high volatility above $2, witnessing multiple quick pullbacks and bouncebacks, leading to a loss in trend momentum.
Resistance Challenges: Multiple resistance levels challenge CAKE's uptrend post reaching $2.74, resulting in a sharp pullback of 160%, contributing to a recent 22% drop.
Intraday Fall & Correction Phase: Trading at $2.16, CAKE reflects a 1.55% intraday fall, signaling a potential extension of the ongoing correction phase.
RSI Bearish Signal: The RSI indicator displays a bearish phase with declining trends, reflecting bearish divergence in the daily chart.
Critical Support at $2: Buyers need to prove dominance at the psychological $2 mark; failing to maintain this level might initiate a sharp decline to the lower support near $1.60.
CAKE Gearing Up for a Bull Run!? This Analysis Shows the Way!CAKE is crawling sideways in between a bull channel and above the Weekly Resistance. The price hasn't been able to break above the 30EMA nor has it broken below the Weekly Support.
How do we trade this?
The overarching trend is bullish, so we should set our bias to long. The price is establishing support at the previous Weekly Resistance, so it's reasonable to look for a long entry at that level. Given that the price is failing to break above the 30EMA, we should wait for the price to pull back to the Weekly support line and then look for a long entry. A protective stop should be below the Previous Weekly Resistance line and at least a partial take profit at the previous highs around $2.80.
Key Points
1. Bull Channel, Long Bias.
2. Multiple Tests of Previous Weekly Resistance, Showing Support.
3. Failing to break above 30EMA, Fall to Channel Support.
4. Bull signal at Channel Support, Long Setup.
5. RSI at 50.00 above Moving Average, Weak Indicator.
You are solely responsible for your trades, trade at your own risk!
Let us know what you think in the comment section below!
CAKE Weekly Analysis - Long the Descending Wedge Bull Pattern!?CAKE is in a descending wedge pattern and currently flirting with breaking out. After last week's bull bar closing near its high, we had a slight pullback to the 30EMA and bounced back to the top of the wedge. We have yet to breakout let alone confirm a breakout. Until then, this is what we have for data:
Key Points
1. The Descending Wedge Pattern is Bullish
2. We should wait to enter long until the breakout is confirmed
3. We have some support on the 30EMA
4. Bitcoin is a leading indicator for the alt market. Bitcoin needs to confirm a breakout of the Weekly Resistance
5. RSI has room to move up but has more to fall. We should wait for more price action.
You are solely responsible for your trades, trade at your own risk!
Let us know what you think in the comment section below!
