CAKE/USDT — Long
— The price moved far away from the support level despite Bitcoin dropping. CAKE is now testing a resistance level with a strong approach; there may be attempts to break above it and potentially flip the trend around the MA50/200 on the daily timeframe. The setup looks strong, and Bitcoin shows signs of a slowdown. A possible bullish wedge is forming.
— Entry: $2.345 (Market buy)
— Stop: $2.23 (-5% price movement from entry to stop — NOT percentage loss)
— Target: $2.64
Risk per trade: 0.5% of total deposit (this is the percentage loss)
Position size: 10% of total deposit, leverage 10x
RR: 1 : 2.4
— The price moved far away from the support level despite Bitcoin dropping. CAKE is now testing a resistance level with a strong approach; there may be attempts to break above it and potentially flip the trend around the MA50/200 on the daily timeframe. The setup looks strong, and Bitcoin shows signs of a slowdown. A possible bullish wedge is forming.
— Entry: $2.345 (Market buy)
— Stop: $2.23 (-5% price movement from entry to stop — NOT percentage loss)
— Target: $2.64
Risk per trade: 0.5% of total deposit (this is the percentage loss)
Position size: 10% of total deposit, leverage 10x
RR: 1 : 2.4
Trade active
Note
Stop moved to BE
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.