Per the request of our fearless leader @khaleelkazi here is the first intraday chart of WLEO in Satoshis!
What are we looking at?
Wrapped Leo against BTC:
- WLEO/WETH * ETH/BTC = WLEO/BTC
Normally when you look at multiple time frames it would be something like the weekly, daily and then 4 hour.
Or if actively trading, something like the daily and hourly.
Given we have limited trading history still I am going to use the 4 hour and 1 hour charts to see if we have any trends or areas of support and resistance to use.
The 4 Hour Chart....
The 1 Hour Chart....
What are the charts telling us?
In the end what we what to find is synchronicity between the different timeframes. When looking at the charts you can see a few trendlines I recognized based on the price action.
The top and bottom lines represent the overall range that WLEO has hammered out since really settling in to more organized trading after the initial listing.
Support and Resistance are in...
When you look at the 1 hour chart you can see the 4 hour support line transitions rather cleanly. Support at .126 satoshis.
That is what we like to see.
The trendline in the middle was a tighter range we saw as WLEO got stuck in the bottom half of the larger range, this coincided with the pullback of crypto and as you can see price has recovered.
With a test and then a breakout of this mid-level WLEO is now in the upper end of the overall range.
This mean the current upside target for WLEO/BTC is the all time highs of .14 satoshis. The current setup is certainly favorable.
As we get more trading history we will be able to incorporate the daily and then weekly charts into price analysis.
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@scaredycatguide I only understood about half of this, but I've been watchin WLEO on the rise and am glad I got in when I did! This is just the beginning as it continues to catch on!
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With Wleo I am starting to understand where the price for a coin generates. It's all about the project updates, background work behind the coin and how much the community members and other relevant buyers/sellers are optimistic/pessimistic about the project. Nice graph and analysis.
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Yes, progress and believe in the project is key. I mean, look at Tesla. They have used that model to create billion in market cap.
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Yes. And, you need a cult figure like Musk to lead.
I think that with the microblogging coming in December 2020 we might see new record ATH for LEO cryptocurrency. We are pretty stable in the 0.2x range and we need to move up from here into the 0.3x range and more. I think that once we reach 0.5x things will get pretty great and onboarding will increment at that point. Looking for a bright future for the LEO Finance community and all the projects built!
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Yes, my faith is high in the project and progress.
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I just find put about LEO a month ago so basically havent sell any and not planninng for now, I have been on a trip to accumulate Hive and related tokens, LEO looks good though and the interface is nice, want to see how far it can go, bullish on leo mainly because of community is small and strong for now
Yeah, this small core community is a great foundation for future growth.
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its all amazing
Big work of a Small community LeoFinance is covering all task clearly
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The price is good.
Very good analysis, @scaredycatguide.
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I really appreciate the posts by you and @rolandthomas about chart reading techniques, especially the candlesticks. I think this type of material has broad appeal, both within the crypto community and outside amongst non-crypto investors. It gets more eyeballs on Leofinance I think, and potentially more Leo buyers :)
@shortsegments
P.S.
I was delighted to come across WLEO on Coin Paprika also the other day!
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