Yesterday, the US stock market fell sharply, and the PPI data was very unfavourable, leading to a widespread decline in the crypto world, with btc, eth, doge, and sol all experiencing a significant downturn. Currently, btc is near the lower band of the bullish flag at 118100, in a low-level consolidation state. The 4-hour chart for btc has not effectively broken through the 123000 area, with a long upper wick 🧵 being retracted, indicating that the selling pressure above 120000 is still very strong. btc needs to see if it can effectively hold above 118000, which is a critical resistance level, and break through 120000. I am bullish, but if it continues to fall 📉, it may return to the lower band of the bullish flag for a deep pullback. The area around 111500-112000 is the best opportunity to go long.

ETH fell to the rising trend line near 4536 last night and rebounded by about 200 points, the loyal fans in the group made a profit. Currently, as long as ETH holds above the trend line 🧵, we continue to be bullish. If the 4-hour close breaks below, the focus will be on a pullback towards the vicinity of 4165.
Intraday trading plan:
BTC: Attempt to go long at 116600, see if it can hold above 118000. If it holds, continue to look towards the 12w area. Choose a high sell near the 12w area.
ETH: Can 4572 hold above effectively? If it holds above, look towards the previous high around 4778. If it falls below, continue looking down to 4350, around 4155. Attempt to go long around 4150 #Gate 8月储备金报告出炉# #BTC再创新高# #CPI数据来袭# .