$BAKE 📈
$BAKE /USDT Market Analysis - Binance (1-hour chart)
🔹 Current Price: 0.2308 USDT (+2.99%)
📊 Timeframe: 1-hour chart
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📌 Key Notes:
✅ Strong Support Zone Identified:
The yellow highlighted area (~0.2124 USDT) shows strong buying interest.
The price has bounced off this level several times, indicating a demand zone.
📈 Bullish Breakout In Progress:
The price is moving higher from the support zone.
The breakout could push the price towards the target zone at 0.2456 USDT.
📉 Support and Resistance Levels:
Immediate Support: 0.2124 USDT (recent low).
Major Support: 0.2078 USDT (Stop Loss Zone).
Resistance: 0.2456 USDT (Target Zone).
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📈 Bullish Scenario (If Uptrend Continues)
📌 Buy Entry: If price stays above 0.2200-0.2250 USDT.
🎯 Target 1: 0.2456 USDT (Major Resistance). ✅
🎯 Target 2: 0.2600 USDT (Extended Target). ✅
❌ Stop Loss: Below 0.2078 USDT (Invalidation).
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📉 Bearish Scenario (If price fails to hold support)
📌 Short Entry: If price drops below 0.2124 USDT.
🎯 Target 1: 0.2000 USDT (Psychological Level). ✅
🎯 Target 2: 0.1900 USDT (Major Demand Zone). ✅
❌ Stop Loss: Above 0.2200 USDT (Voids short trade).
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⚠️ Trading Caution:
📌 Watch for breakout confirmation above 0.2300 USDT.
📌 Volume needed for strong upside push.
🚀 Follow price action near resistance and volume confirmation
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