On the BTC daily TF, the price has been consolidating for a while after grabbing liquidity at the 21k price range and causing a BOS (Break of structure) at the 25K price range, resulting in a new high.
Price is predicted to return to the beginning of the movement that established the new high in order to mitigate the order block in that zone, which is in the 20K range, before continuing its rise. With this knowledge in daily TF, it is prudent to enter short trades in smaller TF.
Chart showing performance of BTC/USD [Binance Chart] (Daily Time Frame). Source: Trading View
ETH appears to have mirrored BTC’s move on the daily TF, as it similarly swept liquidity at $1460 and triggered a BOS near the 1700 zone, resulting in a new high price.
Price should retrace to the beginning of the movement that created a BOS to mitigate the OB in the “Potential buy zone” before continuing to rise.
Chart showing performance of ETH/USD [Binance Chart](Daily Time Frame). Source: Trading View
Learn and stay accustomed to these basic trading abbreviations and terminologies here
⚠️This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their research when deciding.