BAKE/USDT
1D/4H Chart
Bake has broke out of the major resistance downtrend on the daily chart with a high volume breakout signalling buyer intention for continuation in the coming days.
It broke out of the initial falling wedge (end of trend reversal pattern) into a strong daily demand zone and since created a CHoCH (change of character) forming a new trend of higher highs and higher lows with volume increasingly coming in having reclaimed the major uptrend.
Drawing fib projection from the correction wave of the falling wedge we could see price head towards the daily supply level and into the 1.272 if the bullish momentum continues.
MACD momentum heading towards the centreline for an upcoming buy signal with the histogram current daily bar showing almost double the previous.
I bought a bag @$2 with the intent to hold for a swing trade to sell near the high for a 300% gain, I will manage my risk accordingly setting my stop at entry after clearing daily supply and taking some profits in fractions as we move up.
1D/4H Chart
Bake has broke out of the major resistance downtrend on the daily chart with a high volume breakout signalling buyer intention for continuation in the coming days.
It broke out of the initial falling wedge (end of trend reversal pattern) into a strong daily demand zone and since created a CHoCH (change of character) forming a new trend of higher highs and higher lows with volume increasingly coming in having reclaimed the major uptrend.
Drawing fib projection from the correction wave of the falling wedge we could see price head towards the daily supply level and into the 1.272 if the bullish momentum continues.
MACD momentum heading towards the centreline for an upcoming buy signal with the histogram current daily bar showing almost double the previous.
I bought a bag @$2 with the intent to hold for a swing trade to sell near the high for a 300% gain, I will manage my risk accordingly setting my stop at entry after clearing daily supply and taking some profits in fractions as we move up.