This is my first look into PancakeSwap token also called CAKE
Launched on Binance Smart Chain . The hottest blockchain right now.
It made an ATH on debut on Binance exchange of $18
Been on a downtrend ever since to find balance, solid base where it can begin a definite move.
I guess many FOMO'd buying top on launch, while whales traded gains on Long and...
As a pankaceswap exchange toke, the coin CAKE has the potential to go upward.
The best thing is that the Cake has 2 levels of target profits and those are being put in the 2 upper white level. Since CAKEUSDT is on a bullish triangle, I am expecting to have a long entry here!
CAKE has seen quite a bumpy start since it got added to BINANCE recently. With Bitcoin in a bit of distress, I suspect CAKE will see some more bearish price action in the coming few days. Accompanying that bearish move, I also see a strong reversal trade for CAKE in the future.
Before entering this trade wait for the price to close below the Entry line. Higher...
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This is not a financial advice. Always do your own research and always put stoploss in your trade (SL) :) If you want more detailed info how to study and read charts or just need help with some coin, just write to me here a comment, i will try to answer to everybody... i can...
CAKEUSDT has been trading in a descending channel formation and has been flirting with its trendline resistance placed in the range of 15.80-16.00USDT.
In the past 24 Hrs, trading volume(CAKE) has increased sharply by more than 64%. And, the whole DeFi segment has been trading in the positive territory, with UniSwap gaining more than 15% in 24Hrs.
Key...
Looking for a possible breakout of the falling channel followed by a possible inverted Head and Shoulders . My entrance level would be at the bottom of the right shoulder depending of the market ( BTC / BTC .D) at that time. Always safer to enter a confirmed breakout.
There are signs of a trend breakout. There is a false break of the support
We just have to wait and break the trend
Goals 18.4
21
Stop Loss
9.1
Anyone who wants to support me with cake
0x381207a3a560a65f745ca3e1dac2514c2ddd9955
CAKE has alreadyy dropped around 18% over the last few hours. Pancakeswap's native token has shown that it has a strong community behind it that supports the project and a lot of legit projects coming to the platform consistently.
The chart seems that there will be an upward progression and CAKE can giv a profit of 10% in short term positions.
Cake USDT, even on Bearish level has the potential to go with 18 - 22 an a take profit area! So, what are you waiting for? Accumulate some sour now and get sweet part on the future!
PancakeSwap's native token, CAKE, is something that has given a lot of profits to investors with its movement so far.
The price keeps growing steadily and we can see a smooth upward trend in the chart which seems that it will continue in the future as the chart shows there is not any strong resistance in the way to go UP.
Happy gains and Happy trading to everyone!
look forming falling wedge aline with FIB 61% level , currently breaking the wedge , looking to buy if it retest around 13$ .
Technical analysis not considering any fundamental .
===Not a financial advice Don’t follow blindly ===
