I recommend BAKE to you, and I still have some basis from the technical form. If you only look at the daily line, you will find that the performance is mediocre and has no special features. In fact, the start of this round of bull market was from the bottom on October 20 last year, and it continued to climb upward. Most of the altcoins have continued to rise since the bottom on October 20. But from the historical daily trend of BAKE, its price bottomed out and started to rise from the position of 0.08 on August 6 last year. It bottomed out earlier and rose more than two months ago. In the early stage of many coins bottoming out and rebounding, it has gone through a band. And its performance in the later acceleration is also very superior, with the highest price rising to 0.90 on December 27 at the end of last year, an increase of 10 times.
As the daily line has been rising rapidly, the price has also peaked, and then we have seen a continuous decline, releasing the profit-taking action. It has been more than half a year since the last peak, and the adjustment is relatively sufficient, and the chips are sufficient.
From the recent daily performance, we can see that after the price followed the market in the last wave of crazy decline on April 14, it did not break the new low of the day. Instead, the bottom of the daily line continued to oscillate upward, and the whole process was moving and maintaining. After that, BAKE also led the market to experience several large declines, but the price of BAKE remained stable and had strong support. From the details, BAKE was relatively active after following the market decline on June 8. The hourly line shows that it has launched multiple upward shocks and declines, rather than staying sideways like BAKE. There was obvious buying action in the whole process.
From yesterday's detailed performance, we can see that there are more reasons for buying and supporting the market. BAKE started at 2 a.m. yesterday, and a long decline lasted until 23 p.m., and the entire decline lasted for 21 hours. Before 19 p.m. yesterday, BAKE did not fall back during the whole process, but continued to test upwards, and seemed to have the momentum to break out. The price support was strong throughout the day, and it grew against the trend, indicating that there have been obvious buying and supporting actions in this process. As BAKE continued to accelerate its decline after 19 p.m., BAKE also released the selling pressure and fell sharply. From today's recovery performance, BAKE continued to grow strongly upward, with a large recovery range and continuous active buying actions. For currencies of this form, there is usually a higher increase expectation. At the same time, the current circulating market value of BAKE is only 60 million US dollars, and it is easy to control the market and the difficulty of pulling up is low. Therefore, it is recommended to buy BAKE and hold it and wait.
Since the price has not risen significantly since April 14, and the daily line has not seen continuous big positive acceleration, it is relatively appropriate to set the short-term target around the small pressure level of 0.40 on April 9.
An entry strategy was given to coin friends around 0.300 today. Since the analysis was written too long and the price has already rushed out, coin friends who have not participated are recommended to participate at 0.300-0.310, and it is recommended to bravely add to the position at 0.250-0.260.
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