Cake gives signs of a possible downtrend towards 15 usdt and from there start a rally towards 32
This is on the basis that the indicators are turning bearish, the bulls are not winning.
RSI, MACD, ADX, PSAR, etc ...
In 6h charts.
It is a matter of time to confirm a possible downtrend.
Or maybe we bounce playing the first support
Exchange CAKEBUSD 1d...
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...
Hello my fellow traders and investors!
Let me share my thoughts for PancakeSwap...
At the daily chart we can clearly see in CAKE's RSI three major peaks (A,B,C) all of these three peaks found resistance at about 91.34 RSI level.
From peak A to peak B we had 182.42% ROI, from peak B to peak C we had 153.85% ROI.
From each peak we have diminishing returns so we...
The PancakeSwap token CAKE has sold off its recent highs in a solid uptrend that also sees BTC attempting new highs.
OBV is strong and did not decline at the peak which suggests a H&S is not in play. With other alts alternating pumping and selling off, CAKE is an excellent buy at these prices with BTC and SPY surging to new highs. Get on the trend and don't over...
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...
You can see my cakebusd setup in the chart. Cake has nice fundamentals also. They will burn some cake supply. Also chart looks bullish. If btc moves slowly we can see nice pump.
Please take your own risk.
$CAKE broke out of an Adam & Eve double bottom, and is now forming a bullish pennant on lower timeframes (6h and lower, and even somewhat on the daily chart).
Though volume seems low, and the stochastic RSI is showing potential bearishness.
There's a good probability we break down out of the pennant, for a small correction before moving up towards previous ATH...
we may have a small head and shoulers on the 4 hour timeframe we can see some support at yellow line (50ema) and target price. only bearish if it breaks neckline. should be a short lived correction if we do drop.
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...
who wants some cake?
Binance smart chain is on fire and they are really good in my book
PancakeSwap is an automated market maker (“AMM”) that allows two tokens to be exchanged on the Binance Smart Chain. It is fast, cheap, and allows anyone to participate