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CAKEBUSD

Can Cake pull of a BNB type marathon? A little back Story: Many people think that Cake will pull off a BNB and well, they are not wrong- at least in my opinion. A few days back, I was looking for a long entry but saw a Bearish engulfing candle and decided not to- In fact, I went on for a low-lev short with the target of 0.618 fibs ($21.665 ). What's next? The 0.618 acted as the perfect support and the price bounced right from that point. Now, as you can see from the above picture, the trendline is still intact and it looks like that price will go break out from the next resistance point 0.786 fibs ($25.339) pretty soon. once, that is broken, traders can look for a long entry or a safer entry would be the retest of that previous resistance turned in to support with the target of 1fibs ($29.99), and in the best case- 1.618 fibs ($43.35) provided that the market conditions do not change significantly. Let me know what you guys think of the price action and if you would like to add something to this analysis! Best regards, J.
Long
by jahanzaib5555
2
Ready to eat more CAKE? @SmileyTradesHello Traders! Looks like CAKE has triggered our entry for the Meso Degree setup! Looking for a break of ATH and a target of ~$31.2!!! Take note...the Stop Loss for the Meso setup is pretty close to the Entry of the Macro setup so make sure you are position sizing accordingly! Key levels on the chart. I'll update again if we get either a break of ATH or a Stop Loss of the Meso setup. I will definitely keep my eyes on this. Happy Trading, always manage risk. Quality in trading is the ability to react to one's own psyche
CLong
by SmileyTrades
Cheers to those have eaten CAKE! @SmileyTradesHello Traders! We have finally met our Macro degree Target! A big congratulations to those who took this trade with me. I must say, it's been a trade with bottom entries and top targets! It's been ~250% in price gains from Entry to Target! Great trade. I've included what's next for CAKEBUSD on the chart. Pay attention to how price begins to consolidate after the Target has been met; it will tell you how bullish/bearish it is. Key levels on the chart! Happy Trading, always manage risk. Quality in trading is the ability to react to one's own psyche
CLong
by SmileyTrades
1
CAKE Meso Target Met, Macro coming! @SmileyTradesHello Traders! Hopefully, some of you have been paying attention to my analysis for this coin! So far, we have had some seriously amazing trades that have led to insane profits! I will mark the previous setups for your viewing pleasure (maybe to instill confidence within my trading). For now, even though we have met the Meso Target, we are still waiting for the Macro Long Target to be met at $26.30. In the meantime, IF price allows it, there is a Micro Extension that we are observing to see if price trades, but also some Meso degree setups below us as marked on the chart. Let's allow price to develop, ideally in our favor ;) Happy Trading, always manage risk. Quality in trading is the ability to react to one's own psyche
CLong
by SmileyTrades
Cake looks Bullish !!Cake/usdt Had an amazing run a few days ago over 70% pump which was tremendous .1 personally can see cake at 30$ before may,Futher a Cup and handle confirming it gives us more confidence in it . We could also Presume it as a Bull flag. And the target would still be Astronomical.i would like to see the breakout of the neckline In the next few days.further btc dominance falling into new lows adds to the hype. Fundamentally speaking Cake has a circulating supple of 150M Price 18$ Uniswap 500M price about 30$ Also with ethereum Scaling solution Layer 2 being postponed for July could give room for dexes like pancake swap room to grow. I hope you all good trades Do your own research none of this is financial advice Cheers!
by ChartGains
2
Cake Looks niceCake/usdt Had an amazing run a few days ago over 70% pump which was tremendous .I personally can see cake at 30$ before may,Futher a Cup and handle confirming it gives us more confidence in it . We could also Presume it as a Bull flag And the target would still be Astronomical.i would like to see the breakout of the neckline In the next few days.further btc dominance falling into new lows adds to the hype. Fundamentally speaking Cake has a circulating supple of 150M Price 18$ Uniswap 500M price about 30$ Also with ethereum Scaling solution Layer 2 being postponed for July could give room for dexes like pancake swap room to grow. I hope you all good trades Do your own research none of this is financial advice Cheers!
Long
by ChartGains
1
CAKE sidelining CAKE REVIEW Rough consolidation for CAKE, just experienced a bad event recently with the DNS attack, luckily the team managed it really carefully. Most of the value of CAKE remained because of people staking it and using farms for rewards. Price action could be explained by less buyers in and more early adopters selling to invest elsewhere. Lack of new incentives to buy $CAKE is reason why price is slowly dropping. As long as TVL remains high and solid, I wouldn’t panic. The fact that the price is under the 200EMA in the 4H chart makes me kinda bearish, but when we zoom out to the daily we are only near the 50EMA, which is still fine for now. RSI has been under 55 for the main time since mid February (but never went completely oversold)which shows that a lot of people are still holding and staking. Pancake is willing to be the Uniswap of Binance, for so it has revamp itself, which is going to happen before June 30th with CAKE V2 to happen in Q2. On a fundamentals perspective, I am really bullish on CAKE since they are planning to change the contract for migration and develop: * The ability to create a referral program (users can earn a percentage from referral fees). * Adding an automated buyback and burn mechanism (from trading fees). * Enable automatic compounding on syrup pools. * Enable access to minting logic; governance votes decide on emission rates. * LENDING & BORROWING PancakeSwap is currently working on a Minimal Viable Product (MVP) version for lending and borrowing. The high demand for such products can be seen in projects like Venus, which is currently the project with the highest TVL on the BSC. PancakeSwap wants to be able to offer this service to its users as well. The fees generated by lending and borrowing would be used to buyback and burn $CAKE. This product will be released after the release of their prediction market. These are the reason why I would buy more if ever we would retest the red support at 5$. Otherwise I’d keep staking in the syrup pool and earn juicy CAKE that I would sell not less than 22$ Cheers
C
by OobCast