#### Hello Everyone, ![image.png](https://cdn.steemitimages.com/DQmbGkJVowrdkrjdEu3pVJhWup1jd3RyS17jrZUALBW99W8/image.png) *lets get started...*

**PANCAKESWAP** ![image.png](https://cdn.steemitimages.com/DQmRyS4XoMa31S5yYCwvaw13zukSGaMdGNHo3XpUuweD4rM/image.png) Its an Automated Market Maker (AMM) that is a decentralized finance (DeFi) application allowing users to get to exchange BEB20 tokens, providing liquidity through farming and earning of fees as a return. The use of the AMM gives users the ability to lock their funds into the pool and to receive liquid provider tokens as a return. The tokens can then be used to claim their share of the pool and also the portion of the trading fees. PancakeSwap allows its users to farm tokens and also deposit Liquid provider token to get rewarded with CAKE in exchange. PancakeSwap does not require the use of orderbook, bid and ask, limit and order to be able to provide liquidity. It was launched in September 2020 by an unknown developers who had passion for pancakes. There are soo many features which makes PancakeSwap unique: The use of the Automated Market Maker model which simple means it has no use of order books but rather liquidity pools. Through this a user earns an income by becoming a liquidity provider. The token can be used for lottery on PnackaSwap which require a user to guess 4 numbers right in the interval of 6 hours. Each sessions costs 10 cake. PancakeSwap is a BEP20 token which was launched on the Binance Smart Chain. **Why am I optimistic about this token today, and how long do I think it can rise?** ![image.png](https://cdn.steemitimages.com/DQmRyS4XoMa31S5yYCwvaw13zukSGaMdGNHo3XpUuweD4rM/image.png) PancakeSwap is on most Exchanges which makes it easily accessible to users to buy this token. This is an advantage for the token as it influences the price of the token. My indicators gave me a positive signals to get into the market. The use of several indicators helped me to filter out any false signals in my trade. This is one of the main reason why I'm so optimistic this price will go in bullish trend. The token is build on the Binance Smart Chain which enable it to have a low transaction fees enabling traders to make more profits. Based on my Analysis i am very sure the price will get to $7 by the end of the day. **STATISTICAL ANALYSIS** ![image.png](https://cdn.steemitimages.com/DQmRyS4XoMa31S5yYCwvaw13zukSGaMdGNHo3XpUuweD4rM/image.png) The current price of the PancakeSwap is at $6.96 USD which is been up 5.65% for the last 24 hours. For the past 24 hours it has a trading volume of $214,289,724 USD. It also has a market Cap of $1,927,570,407 USD with a Circulating Supply of 276,960,534 CAKE. It is ranked on number 54 on the CoinMarketCap list of tokens based on it statistics. ![image.png](https://cdn.steemitimages.com/DQmU5zV28My9nDdq1ZXMbNd3EsG47FkZvoRv71hymVWnTUQ/image.png) _{Screenshot from [CoinMarketCap](https://coinmarketcap.com/currencies/pancakeswap/)} Pancake swap had its all time high on 30th April, 2021 and its all time low on 29th September 2020 at $0.0002318 ![image.png](https://cdn.steemitimages.com/DQmbm2n92eY9eEXV5vttzt6qva58TqU9aiafCFMAwFqM8FD/image.png) _{Screenshot from [CoinMarketCap](https://coinmarketcap.com/currencies/pancakeswap/)} PancakeSwap can be traded on most popular exchanges such as the Binance, Houbi, Poloniex and a lot more other exchanges which you will have the ability to buy, sell and also swap for other tokens. ![image.png](https://cdn.steemitimages.com/DQmbvCgVEcN8FjMXnkk5nSA9UQbqf5jcwo51XpaDEGtwC1M/image.png) _{Screenshot from [CoinMarketCap](https://coinmarketcap.com/currencies/pancakeswap/)} **TECHNICAL ANALYSIS** ![image.png](https://cdn.steemitimages.com/DQmRyS4XoMa31S5yYCwvaw13zukSGaMdGNHo3XpUuweD4rM/image.png) I will be trading with the pair CAKEUSDT 30 minutes candle stick chart using the TradingView platform to make a details analysis of the price. The use of the candle stick will help me determine the opening and closing price as well as the high and low swing points. From this analysis i will be using three indicators which are the RSI, EMA and the Ichimoku cloud indicators. Using multiple indicators will help me filter out false signals. I will be scalp trading which is the reason i chose a smaller timeframe. I will first analysis using the EMA on the chart. I used a smaller and bigger periods which are 20 and 50 respectively. From the chart, price has been in an uptrend after the 20 period crossed above the 50 period. We can also observe that the 20 period serves as the support to the price which has resisted the price on so many occasions before the current price. While its rejecting the price it hasn't showed no signal of a bearish trend so which means its safe at this moment to get into the market. At the point the RSI indicator price is at the bullish sector which is the 50 to 70 mark which indicates positive into the market. This is a confirmation of the signal we had on our EMA indicator. ![image.png](https://cdn.steemitimages.com/DQmb1B8unKeV1xco3jcn7b4VUMV9NQGtR3TfDoWsE8R2z2U/image.png) _{Screenshot from [TradingView](https://www.tradingview.com/chart/ABlOMin7/)} Now using the Ichimoku Cloud, just like the EMA indicator it also serves as support to the price. As we can see the cloud is below the price supporting the price into uptrend. The Ichimoku cloud can also tell us as well the amount of trading volume is the market at the moment. This depends on how large or small the cloud becomes. From the screenshot we can see that it started to get more larger after a small narrow which is a positive sign the price will go more further into bullish. ![image.png](https://cdn.steemitimages.com/DQmeaL166DC8shswMfoUYnj11wdDChXkUQr5mqvUFaj3qP8/image.png) _{Screenshot from [TradingView](https://www.tradingview.com/chart/ABlOMin7/)} After all the positive signals i had from all my indicators, I will make an entry into the market. I will be using the CAKEUSDT pair on the Binance Exchange. I bought 10.13 USDT worth of Cake. The risk-reward ratio of this trade is 2:4. ![image.png](https://cdn.steemitimages.com/DQmXxjinm8k6NFNFCet75oNvJhvQemkn3zgjdowgsJbsqsN/image.png) _{Screenshot from [TradingView](https://www.tradingview.com/chart/ABlOMin7/)} ![image.png](https://cdn.steemitimages.com/DQmX1GQchkSjYJDA5rSb8WNJHbYoqoqR92YFa1NxABqvmwc/image.png) _{Screenshot from [Binance](https://www.binance.com/en/my/orders/exchange/tradeorder)} **My Plan to Hold CAKE long or Sell** ![image.png](https://cdn.steemitimages.com/DQmRyS4XoMa31S5yYCwvaw13zukSGaMdGNHo3XpUuweD4rM/image.png) My trading style is intraday trading which should be executed in one day. I have been able to mark my takeout profit and stop loss if any of these conditions are met, they will be executed. I have no intention of holding the token for longer time more than a day. After exiting the market and i see another opportunity i will make back into the market. **Would I recommend people to Buy CAKE** ![image.png](https://cdn.steemitimages.com/DQmRyS4XoMa31S5yYCwvaw13zukSGaMdGNHo3XpUuweD4rM/image.png) PancakeSwap has low rate which due to its development on the Binance Smart Blockchain. This makes it a good choice for traders above its competitor Uniswap since it has higher trading fees. Traders are in for profits so they will go for cheaper services. Pancakeswap is one of the most highest daily user based on decentralized application. Cake has high volume which helps investors in their decision to trade using CAKE. It is easier to invest and also easier to sell when in profit. The above are some of the many reason why i would recommend any trader to invest and trade with cake but before then you should do your own research before making investment. Also take your trading style into considerations. **CONCLUSION** The CAKE token is a good and promising project which is yet to reach its highs especially with its unique features like LP and farming.