SHORT 
BAKEUSDT.P from $0.2670
Stop Loss: $0.2834
⏱ 15M Timeframe
Overview:
️ BAKEUSDT.P experienced a sharp upward spike, reaching $0.2834, but was followed by a strong decline, indicating profit-taking from major players.
️ POC (Point of Control) at $0.2837 shows a high-liquidity area where most trading volume occurred, suggesting a possible resistance zone.
️ The $0.2670 level currently acts as short-term support, but a confirmed breakdown could trigger further downside.
️ The chart structure signals a potential correction after this steep rally, making short positions at these levels attractive.
Plan:
️ Enter short after confirming a breakdown below $0.2670.
️ Risk management through Stop-Loss at $0.2834, placed above the liquidity zone.
Targets:
TP 1: $0.2585
TP 2: $0.2452
TP 3: $0.2310
BAKEUSDT.P shows correction signals — expecting further downside!
BAKEUSDT.P saw a vertical spike, but the lack of strong buying interest at higher levels suggests potential profit-taking.
If $0.2670 breaks downward, we could see continued selling pressure towards $0.2310.
However, a breakout above $0.2834 could change the scenario, so risk management is crucial.