BTC
Tonight's PPI exceeded expectations, which is bearish for BTC, and it dropped from a high. During the weekly review, I reminded everyone that this position must be monitored for any divergence at the daily level. Currently, after last night's bearish news from the market, we need time to recover. Since today is Friday and the weekend is approaching, it's just right for a recovery and some consolidation. Fortunately, yesterday's pullback reached the trend line's position and rebounded. The overall strategy remains unchanged. Now we need to focus on whether the weekly level can hold above 120,500. If it cannot stabilize, we need to watch for a potential top formation at high levels. The current consolidation range is between 120,500 and 112,500. Where it goes, we will look for signs. Support is at 117,000-112,500, resistance at 120,300-122,500.
ETH
Ethereum mentioned yesterday that institutions and foundations are gradually offloading. After this pullback, Ethereum rebounded quite strongly, but this position also needs some time to recover. The current consolidation range is between 4,488 and 4,640, with support at 4,568-4,488 and resistance at 4,640-4,710.
