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CAKE / TetherUS PERPETUAL CONTRACT

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CAKEUSDT.P trade ideas

CAKEUSDTHello to all dear traders, I hope you always hunt for big profits. DISCLAIMER: This is not financial advice! This is an opinion-based show. I am not a financial adviser. Please only invest what you can afford to lose, and we encourage you to do your own research before investing. everyone should buy and sell according to their own strategy. Everything you need to know is outlined in the chart and keep in mind that we are moving forward with probabilities and the analysis may be wrong so take capital management seriously.
by Bibres2003
$CAKE has probably hit the bottomAfter almost 3 months of downward pressure from its rally that started in July that took it to $26.60. It has been bouncing off the .382 fib retracement and has formed a bull pennant on the weekly chart and it could break very soon. It is also hitting oversold territory on the weekly Stochastic RSI and its smack dab in the middle of the weekly RSI. It looks like it can move to the upside to between $30-$37 if the pennant is to be believed. However that means that it would need to get through the .702 fib retracement level where it was rejected last time. Now with that said, BNB/BSC is close to all time highs, people will possibly start to sell and take their profits and what better place to put them would be in to a cheap token that happens to be the biggest Binance Smart Chain DEX. Plus the fact that staking $CAKE can net you 72% APY at the moment will entice them to buy and stake. Also having burned more than $104 million this past week and their continuing burning will help move this up. Looking at the end of the bull run I think $CAKE should be between $88 to $100.
Long
by elpipetuanis
CAKEUSDTCAKE USDT It is in a downtrend channel but has received good support in the weekly time frame. If it can break the ceiling of its downtrend channel and stabilize in the 4 hour time frame, you can expect good growth. So be patient and wait for the canal roof break and stabilization. One of the most important points in entering a position is to be patient and find the best entry point. In each trade, 20% is technical analysis and 80% is capital management and correct entry into each position. Due to the normal positive divergence in the 4-hour timeframe, the possibility of breaking the support range is low.
Long
by AlirezaFiroozii