rafiirfan

PANCAKESWAP CAKE back to $22 before pancakeswapV2 ?

Long
BINANCE:CAKEBUSD   CAKE / BUSD
Reasons:
1. PancakeSwap planning to release their V2 around early Q2. expecting hype before their V2 like before UniswapV2.
2. Some of their V2 features are: Buy-back and burn mechanic to trading fees. Auto-compounding pools, Referral program.
3. They also developing into: Prediction market, more NFT & gamification platform, Lending & borrowing.
4. by TA perspective,, Finally 4H MACD back bellow 0 after a looong bullish week.
5. 4H candle hit the 100 SMA line, and hopefully cross my bearish structure.
6. Bitcoin on-chain data by Glassnode & CryptoQuant looking good, preparing to continue the bullrun.
--
!! That is my personal hope & observation nor financial advice. I am not self-claimed pro/wizard TA analysist lol.
just documenting my own reasons of my investment & trading.

Comments

Hi, thanks for the analysis, wondering if. you have any TA on Cakes likely break out and the bottom of the dip as at 14:00GMT 14th March. I was hoping on going in a big position to stake but am nervous about where the bottom of this dip is likely to level out? ANY ANY thoughts would be great as I'm not even 50% confident in my own TA skills.
Reply
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