Bake- An interesting coin with 2x potential and 1:4 R:R

11 Jan

From a technical perspective, BAKEUSDT presents an intriguing opportunity at the moment. Examining the chart reveals a noteworthy pattern. Following the initial breakout from long-term accumulation above 0.2 back in December, the coin underwent a correction to validate the breached resistance. This correction was succeeded by a remarkable pump, and the subsequent decline found solid support at the newly established level (the previous high of the initial upward movement).

Taking into account the prevailing optimism in the crypto market and the coin's characteristic high volatility, there is potential for a new upward movement and a test of the recent peak.

However, it's crucial to be mindful of the elevated risk associated with this particular coin. If you are considering a purchase, it should be done using high-risk capital.