TheMarketDcoder

Possible zones of accumulation for BTCUSD - possible long

Long
BITSTAMP:BTCUSD   Bitcoin
Upon further inspection of BTCUSD I realised that it has a tendency to wick out on the 4 hour time-frame and when it does it settles to consolidate above the zone before dropping into the zone to move higher or consolidates in the zone; now one must use their sense of judgement to determine if the wick was a stop hunt/washout long or buying pressure. A washout long is when price dumps hard for various reasons and pushes up intensely as traders and algos cover or enter long positions. A long would be optimum with further indications of buyers regaining their strength to push the pair higher.
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