BAKERYTOKEN - BAKE/USDT

- USDT (-)

- Real time data - Cryptocompare

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Type:	Cryptocurrencies
Ticker:	BAKEUSDT
ISIN:

BAKERYTOKEN - BAKE/USDT - Daily - Technical analysis published on 12/20/2023 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

67%

17%

My opinion

Bullish above 0.310475 USDT

My targets

0.356339 USDT (+7.67%)

1.538500 USDT (+364.86%)

My analysis

BAKERYTOKEN - BAKE/USDT is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 0.310475 USDT. The next resistance located at 0.356339 USDT is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 1.538500 USDT. After this resistance, buyers could then target 2.189000 USDT. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.

In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.

Force

7.7

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by MOHAMMED ALAMERI. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The BAKERYTOKEN - BAKE/USDT price is 0.330960 USDT. The price has increased by +51.19% since the last closing and was traded between 0.215216 USDT and 0.333448 USDT over the period. The price is currently at +53.78% from its lowest and -0.75% from its highest.

0.215216

0.333448

0.330960

The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.

Bullish opening

Type : Bullish

Timeframe : Openning

So that you have an overall view of the price change, here is a table showing the variations over several periods:

The Central Volumes scanner detects abnormal volumes on the asset:

Abnormal volumes

Timeframe : 5 days

Abnormal volumes

Timeframe : 20 days

Technical

Technical analysis of this Daily chart of BAKERYTOKEN - BAKE/USDT indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators scanner detects a bullish signal on moving averages that could impact this trend:

Bullish price crossover with Moving Average 20

Type : Bullish

Timeframe : Daily

In fact, 12 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Daily

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Pivot points : price is over resistance 2

Type : Neutral

Timeframe : Daily

Pivot points : price is over resistance 2

Type : Neutral

Timeframe : Weekly

MACD crosses UP its Moving Average

Type : Bullish

Timeframe : Daily

Parabolic SAR indicator bullish reversal

Type : Bullish

Timeframe : Daily

Aroon indicator bearish trend

Type : Bearish

Timeframe : Daily

Ichimoku - Bullish crossover : Tenkan & Kijun

Type : Bullish

Timeframe : Daily

Momentum indicator is back over 0

Type : Bullish

Timeframe : Daily

No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.

The presence of these bullish Japanese candlestick patterns detected by Central Candlesticks that could cause a very short term rebound were also noted:

White marubozu

Type : Bullish

Timeframe : Daily

Long white line

Type : Bullish

Timeframe : Daily

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	0.161354	0.263181	0.310475	0.330960	1.538500	2.189000	3.158000
Change (%)	-51.25%	-20.48%	-6.19%	-	+364.86%	+561.41%	+854.19%
Change	-0.169606	-0.067779	-0.020485	-	+1.207540	+1.858040	+2.827040
Level	Major	Minor	Major	-	Major	Minor	Minor

Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.124019	0.170060	0.194386	0.240427	0.264753	0.310794	0.335120
Camarilla	0.199360	0.205810	0.212261	0.218711	0.225161	0.231612	0.238062
Woodie	0.113161	0.164631	0.183528	0.234998	0.253895	0.305365	0.324262
Fibonacci	0.170060	0.196941	0.213547	0.240427	0.267308	0.283914	0.310794

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.130928	0.170936	0.206065	0.246073	0.281202	0.321210	0.356339
Camarilla	0.220532	0.227420	0.234307	0.241195	0.248083	0.254970	0.261858
Woodie	0.128490	0.169716	0.203627	0.244853	0.278764	0.319990	0.353901
Fibonacci	0.170936	0.199638	0.217370	0.246073	0.274775	0.292507	0.321210

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.072635	0.097675	0.140481	0.165521	0.208327	0.233367	0.276173
Camarilla	0.164630	0.170850	0.177069	0.183288	0.189507	0.195726	0.201946
Woodie	0.081519	0.102117	0.149365	0.169963	0.217211	0.237809	0.285057
Fibonacci	0.097675	0.123592	0.139604	0.165521	0.191438	0.207450	0.233367

Numerical data

The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:

Technical indicators

Moving averages

RSI (14):	67.94
MACD (12,26,9):	0.0227
Directional Movement:	25.167612
AROON (14):	-85.714286
DEMA (21):	0.260046
Parabolic SAR (0,02-0,02-0,2):	0.210141
Elder Ray (13):	0.032019
Super Trend (3,10):	0.171711
Zig ZAG (10):	0.332494
VORTEX (21):	1.0455
Stochastique (14,3,5):	46.85
TEMA (21):	0.266103
Williams %R (14):	-3.34
Chande Momentum Oscillator (20):	0.081179
Repulse (5,40,3):	29.6241
ROCnROLL:	1
TRIX (15,9):	1.5913
Courbe Coppock:	30.07

MA7:	0.244166
MA20:	0.233053
MA50:	0.184585
MA100:	0.154382
MAexp7:	0.254637
MAexp20:	0.230421
MAexp50:	0.195754
MAexp100:	0.168484
Price / MA7:	+35.55%
Price / MA20:	+42.01%
Price / MA50:	+79.30%
Price / MA100:	+114.38%
Price / MAexp7:	+29.97%
Price / MAexp20:	+43.63%
Price / MAexp50:	+69.07%
Price / MAexp100:	+96.43%

Quotes : - Real time data - Cryptocompare

This member declared not having a position on this financial instrument or a related financial instrument.

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