BAKEUSDT
Bake recentlybroke out into parabolic up rise. Currently forming a bull flag through consolidation.
2 possible scenarios;
#1) Break out above trendline and continues up rise to 10$
#2) Completes full retracement down to golden pocket (dotted lines) and then starts next parabolic wave to $10
All tokens, depend on BTC.d and BTC. If BTC dump, market follows. We are in alt season so BTC.D doesnt have as strong impact but must keep on watch for all trades, any setups or TA can easily be dismissed when BTC dumps or when BTC.D increases.
For Bake, entry would be best to accumulate (DCA) at lower double bottoms. Can use the Fib lines as buy zones, best to DCA and spread your buy orders along lower fib lines. Can still retrace further down or can change and resume up rise.
Indicators: Volume, divergence, trendlines.
My entry was just above $1. I took 50% profits under $5 and de-risked 100%, now its riding 100% risk free for remainder of bull run.
If price comes back lower to $2-3 area, I will buy more and add to my Bake bag.
Targets always just before Fib Lines; take profits BEFORE those fib lines and BEFORE those psychological numbers ei $10.00
Not financial advise, just sharing my thoughts and hope you can succeed from my shared ideas.
Feel free to leave comments, hit like to show support and if you manage to hit targets from these ideas, please let us know.
Tips are always welcomed :)
Thank you for viewing, sharing and safe trading to you all!