$CAKE the local token for the PancakeSwap exchange on the Binance Smart Chain BSC has seen a significate drop after it's launch to ATH at $44.
The bear market and drop in price for BTC has really hit it hard but the project remains great with genuine use case.
10's of coins are launched on the PancakeSwap exchange everyday it is still seen as the 'go to' for...
CAKE USDT investment plan.
A fundamentally interesting project with passive income. There is a personal portfolio with a dividend winner. After investing ideas, we will tell you how you can earn by storing tokens at 50% per annum in coins.
Payback plan. I allocate 10% of the deposit. Increased volume due to the dividend history in annual terms.
1.5% Purchase order...
The case presented it's on the premises that we are going to continue the downtrend. On the other hand, if the price can go and challenge the pink trendline, I will reconsider all of this. Until I prove otherwise, I believe this is the most likely thing to happen.
CAKE is one of the cleanest and easiest charts to read. We have a simple ABC correction and we completed the C wave recently.
We are now in bullish territory and looking for any opportunities to go long. We have a nice correction forming now and all we need to do is wait for a breakout and enter.
- Watch for breakout of the descending trendline
The time came where breakout of the CAKE coin happened.
There are two scenarios for this coin but both would have same outcome:
1) We move $5.6 after what we will witness a small pullback by the sellers.
2) We will move to $7.3 without any stops from where we might see a pullback.
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If I were to look at the historical progression of cake over the past few months, I am confident we are in a long-term downtrend. Too bad this realization came after my portfolio was down 60% xD. Well, let's hope my newfound humbleness is able to predict the markets more accurately.
Will you look at that? Is that a very interesting support I see? 2$ cake? "Oh,...
Price has been in a downtrend since May 2021, but nevertheless there have been 2 times a bounce from local lows of 100%, the last time in March from a price around $5. After that, a test of the past support zone, around $10, which has now become a resistance zone.
Possible entry points to go long: On a breakdown of the downtrend, or look for an entry...
After the A-B-C correction, we see a five-wave bearish momentum. The current situation looks like the development of the 5th wave in the 3rd wave of the higher order. We are monitoring the situation and will look for entry points speculatively into longs with a minimum volume at 2.75-2.8, and then entry points into shorts 5.3-5.0. Risk/reward as always 3 to 1.
As long as TVL of Pancakeswap does not increase explicitly, CAKE token is rather tough to go up right now. Technical signal is also obvious for trading in downtrend after the token price try to test tunnel line twice but unable to break out. I waited for WTZ3 setup and entered after it broke down the wave line. The previous low is expected target for this plan....
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CAKE has reacted to the weekly resistance zone ($9.270 - $9.239 in blue) it may drop to monthly support level ($5.07 - $5.048)
since BTC may crash more upto $30k...
A bearish angle is broken. The $ 7 range is a very strong support range. If supported, it can move up to $ 8 and $ 9.
If the $ 7 range is broken, it could experience a further decline.
This analysis is solely my personal opinion and it is your responsibility to buy or sell.