Crypto Contest January 14: PancakeSwap

LeoFinance
13 days ago
1 Min Read
226 Words

PancakeSwap (Binance: CAKEBUSD) has broken out of the triangle pattern in the daily chart.

(Chart courtesy of Tradingview.com (log scale))

Elliott Wave Analysis

In Elliott Wave terms, CAKE began a red wave one advance on November 9, 2020. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on January 6 this year and the red wave two (blue sub-waves a-b-c) correction ended on January 11. If this wave count is correct, CAKE should be heading next towards the January 6 peak in the red wave three.

(Chart courtesy of Tradingview.com (log scale))

Funnymentals

PancakeSwap is a decentralized exchange for swapping BEP20 tokens on Binance Smart Chain. Rex Kneisley made a tutorial back in October last year.

(Sources: https://pancakeswap.finance/)

How Will PancakeSwap Trade?

PancakeSwap (Binance: CAKEBUSD) daily chart by Tradingview.

(Chart courtesy of Tradingview.com (log scale))

Prizes

I will be giving upvotes to the correct answers with minimum reputation of 25.

Rules

This poll will expire in one week. Only one vote per person.

Which one will happen first?

Please select one of the three choices and comment below.

CAKE will takeout the January 6, 2021 peak

CAKE will drop below the December 18, 2020 low

CAKE will stay in a trading range between the December 18, 2020 low and the January 6, 2021 peak until February 20

Posted Using LeoFinance Beta