$CAKE ๐ CAKE/BNB Market Analysis โ Binance (1-Hour Chart)๐ฅ๐ฅ๐ฅ๐๐๐ฏ๐ฏ
๐ Date: Feb 12, 2025 โ 08:39 UTC
๐ฐ Current Price: 0.003250 BNB
๐ Volume: 6.92K (Increasing, indicating buying pressure)
โก Trend: Bullish Breakout Forming
๐ Key Levels
๐ผ Resistance: 0.003400 | 0.003600 | 0.003800
๐ฝ Support: 0.003088 | 0.003012 | 0.002900
๐ Technical Indicators
โ Moving Averages:
Price is trading above key moving averages (50 EMA & 200 EMA), reinforcing bullish momentum.
Sustained price action above 0.003250 could confirm a continued uptrend.
โ RSI & ADX:
RSI: 65.82 (Approaching overbought, indicating strong buying pressure but possible pullback soon).
ADX: 43.36 (Indicating a strong trend).
DI+ (31.54) > DI- (14.06), confirming bullish strength.
๐ Trading Plan
๐ข Long (Buy) โ If CAKE Holds Above 0.003200
๐ Entry: 0.003200 - 0.003250
๐ Stop-Loss: 0.003100
๐ Take-Profit: 0.003400 - 0.003600
โ Confirmation: Strong breakout and increased volume.
๐ด Short (Sell) โ If CAKE Fails to Hold Above 0.003100
๐ Entry: 0.003100 - 0.003000
๐ Stop-Loss: 0.003250
๐ Take-Profit: 0.002900 - 0.002800
โ Confirmation: Rejection from resistance & downward momentum.
โณ Trade Duration: 1-3 Hours
๐ข Conclusion:
๐ Trend: Bullish, but approaching overbought conditions.
โก Strategy: Watch for a breakout confirmation above 0.003250 before entering long positions.
๐ Disclaimer: This is not financial advice. Always conduct your own research and risk management. ๐
