BTCUSD Weekly Demand at Entry Time-Frame Price-Based Liquidity

Symbol: BTCUSD
Higher Time Frame (HTF): Weekly
Entry Time Frame (ETF): Daily
Strategy: Daily demand at ETF PBL
Status: Waiting
R: 0

Before

In the BTCUSD weekly chart, a significant demand zone, marked by historical buying interest, was bypassed by a rapid price surge, creating an "inefficiency" where the market didn't fully interact with potential buyers; while the price has attempted a return, it hasn't thoroughly retested this zone, leaving this inefficiency, thus a future, deeper retracement to this demand zone is anticipated to trigger renewed buying pressure, presenting a potentially favourable entry point for traders expecting a price rebound.

Narrative

Anticipating a continued price rebalancing of the existing inefficiency, I would like to execute a limit buy order at the nearest daily demand zone, which exhibits a parent/child relationship with other demand levels; although lower demand zones exist, this proximal zone is my primary focus due to its immediate relevance to the current price structure.

Emotions: None.
Management: None.
Notes: None.