$BAKE Perpetual Trade Idea (4H Chart):
▶️ Entry Zone: 0.2468 - 0.2565
🛑 Stop Loss: 0.1900
🎯 Take Profit 1: 0.2650
🎯 Take Profit 2: 0.2800
Analysis:
🔹 Price is trading above EMA(7) and EMA(25), approaching resistance at EMA(99)
🔹 Recent upward momentum with a high of 0.2468
🔹 RSI(14) at 52.6450, indicating neutral momentum
🔹 MACD line is below the signal line, suggesting potential bearish divergence
🔹 OBV shows slight upward trend, indicating increasing buying pressure
Rationale:
Looking to capitalize on potential breakout above EMA(99) resistance. Stop loss is placed below recent support to manage risk. Multiple take profit levels to secure profits.
Caution:
* MACD divergence suggests potential for price correction
* Recent volatility could lead to rapid price swings
* Use proper position sizing and consider scaling in/out of positions
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#BAKEUSDT #BAKE #TradingStrategy #TechnicalAnalysis #BuyOrder