In time 1W, after a zigzag correction, it will have the ability to rise to the targets specified in the chart by breaking the dynamic trigger and pullback to it by breaking the most important neck line resistance. According to the current motivational wave, this step can be fast. But its first supply zone will be in the range of 4.8 to 5.4...
As I know Cake has really Great Ecosystem in Pancakeswap !
So why not but it in this way and wait for TP!
123 bullish made for it !
major and minor R and S areas Clear.
#CAKE
The 1-day bearish channel was broken strongly to the upside
Supported by stability above the Moving Average 100
It is supported by a rebound from the green support area on the chart
This support area was adhered to well
We also have a positive divergence on the RSI indicator
Entry price 2.82
First goal 3.04
The second goal is 3.30
Third goal 3.60
NASDAQ:CAKE #PancakeSwap is sitting now a bit above $4.00. Will it be able to retest those ATH levels or at least that golden zone of fib? There is a probability to see another leg up after a breakout through this massive resistance zone. Full send after a breakout and no predictions only probabilities.
This is an update to the analysis you see in the "Related Ideas" section
The diametric that we considered for CAKE in the previous analysis is running.
We are looking for buy/long positions on the green range.
The targets are clear on the chart
Closing a daily candle below the invalidation level will violate the analysis.
For risk management, please don't forget...
#CAKE
The pair has been moving in a descending triangle since April 2022
The price broke the upper border of the triangle
Supported by the momentum of the Moving Average 100 that is about to be broken
Oversold on MACD
It is expected to break the Moving Average 100, heading toward upward targets
The price now is 20.2
The first goal is 90.4
Second goal...
According to Elliot wave theory, we are heading towards 3.812
after that, we should see a quick rebound with a potential target of 60%.
I would like to remind you that we are currently in a bullish market and purchasing power of ETFs is so strong that it has completely disrupted halving cyclicality.
We are currently going through a Supply Shock on BTC, which...
After a temporary correction
We can enter into a purchase transaction with capital management
spot
Entry 1 : 3.5 $
Entry 2: 2.8 $
TP 1 : 6.8 $
TP 2 : 9 $
TP 3 : 11 $
SL: 2 $
#CAKE/USDT #Analysis
Description
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+ Cake is showing overall weakness as it recently formed a lower low.
+ There is a good opportunity for short trade as the overall market is looking bearish
+ We can enter a short trade once the price breaks the support....
Cake based on Fibonacci has a good place to grow. And it climbs to high areas along with the fluctuation.. I envision high goals for it .If you remember, the cake could not reject the resistance in the past that I analyzed. Because it could not break the downward trend. But now it is different from the past, it is completely in an upward trend. And it can grow...
Cake Change Of Polarity.
But...................... Should Breakout Resistance ......After Start To UP Trend
SLMM Is First , Trade Second.
SL = Stop Loss
MM = Money Manegment
In the daily chart , after the formation of the wedge pattern and its breakout to the upside, the price has moved towards the static resistance level that we had identified before. if this area, which is in the range of 5.2$, is broken , it can easily move up 9.7$
In the short term CAKE is expected to drop to at least the prior support price
as it would be unusual to drop this far and not retest that price
The main driving force behind the price movement right now is large amounts of CAKE are being unlocked from 12 month staking.
About a year ago - April 2022 - Pancakeswap was offering large staking interest for 12 month...
Hello Traders Hope You Are Enjoying Our Analysis. Today We Will Discuss About CAKE
(Update)
The Descending Channel Has Breakout In WEEKLY Timeframe✅
Expecting Massive Bullish Wave Towards 8$ In Few Weeks✍️
#CAKE successfully broke out the resistance of the triangle, now I can see a possible scenario where it will retest the now support before taking off.
Stay safe as always/
