#bitcoin 4 hour demand price line, try to buy here!

The small candle with long wicks in between 2 big candles is the definition of a zone. Since the price line of the zone is lower than than current price, it's a demand zone . Demand zones are when the price is so low/high that enough buying interest is present to produce a higher likelihood of price increasing--similar to a line of support, but defined by price action rather than shape.

To take advantage of a demand zones, place limit buys at the top price of a demand zone if you expect price to go long in the medium term.

This accomplishes several objectives:
  • buying low/aiming for a cheap price
  • being contrarian, buying after lots of selling
  • staying patient, price has to drop short term before willing to buy
  • placing an order at a price with a history of fast moves (orders not filled and left over)
  • aligning with big money and their price levels (take advantage of large fast moves)

I personally placed a limit buy at this level. My account is only 15% long right now and my plan is to scale back in. This is the nearest strong well-defined demand zone closest to current price that will let me get in at a good price. 4 hour charts are great for scaling into and out of positions, since the levels tend to be stronger and less risky than lower time frames. (The trade off is that it takes longer for price to hit longer term targets than shorter.)
Success! If you press play on the chart, BTC ends up hitting my limit buy with a long wick. :)
interesting and helpful analysis, thank you!
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