Today, Bitcoin is still in a shock adjustment stage. Last night, it stepped back to 33354. During the day, it has been in an upward correction trend. From the chart, the pressure above 341000 is relatively large, and the overall shock contraction. At present, there will be no major changes in the short term, but long-term shock adjustments may cause bulls to lose confidence and start to make profits, which may cause the entire market to fall below the correction. In the long run, there are still about six months before the Bitcoin halving cycle. The bull market often appears after the halving cycle, so I personally think that Bitcoin will continue another wave of bull market in November and December, with the target at 42000 points. At present, breaking through 36000 points is a signal. Of course, it may also pull back to 32500 points before pulling up. I personally think that everyone can boldly go long at these two points.
If the idea is consistent, there will be a retracement, but the support below is also strong and it failed to fall below 33600 to continue the short position. The short-term trend is range-bound. MACD short-term double-line death cross, MA7 turns downward and points to the short position. The technical indicator signals are biased towards the short position. If the daily level closes with a doji, there will be a chance to test the MA7 moving average support. Another trend in four hours is to oscillate for a few days and then break through again. MACD volume does not follow and forms a top divergence structure. The intraday idea is to treat it with high-altitude and low-multiple. The upper pressure is 34500-35000, and the lower support is 33600-33000.
Ethereum fluctuated slightly in the early trading yesterday, and then the market fluctuated upward and broke through the previous high, touching the 1865 line and fell back, and fell to the 1762 line support. Congratulations to those who followed yesterday's thinking and made a profit of 100 points on short orders. The current price of the currency is running around 1793. The four-hour level market broke through the previous high, but the macd did not form a top divergence structure. The support of 1760 was tested many times below but never broke, and the short position could not continue.
There is a need for a rebound in the short-term bottom, but the strength is not expected to be strong. It is suppressed by the MA7 moving average. The sub-chart indicator is in a downward dead cross. Overall, the bears are dominant. The daily K-line closed negative, and the bulls were stagnant. The pressure from above is strong. The probability of a short-term breakthrough is not high. If it breaks through 1880, there is a possibility of accelerated rebound. It is expected to fluctuate during the day. It is recommended to treat it with high-altitude and low-multiple. The upper pressure is 1820-1860, and the lower support is 1760-1720.
At the same time, the possibility of Cancun upgrade this year is very small, it will be Q1 next year, but the normal market will hype it up several months in advance
Decun was activated on Goerli in late November, which means the next two testnet upgrades on Sepolia and Holesky will take place in early and mid-December respectively.
This timeline assumes that no major bugs are found between testnet activations. Tim Beiko noted that even with the most ideal timeline, the Decun mainnet would be activated during the holiday season in late December. Most likely, developers will delay the mainnet activation of the Dencun upgrade until early 2024.
Cancun is indeed coming: Unlike the pure hype concept in June, Cancun has now reached the dedicated test network 10. According to the response of the core staff of the Ethereum Foundation, 10 will be completed in a shorter period of time. We assume that it will be completed before the ETH Turkey Conference on November 13. Then even if the subsequent three public test networks take two or three months, the main network will be launched around the end of January next year. We refer to the Shanghai upgrade (April) to start, but the LSD sector hyped the rhythm four months in advance. Cancun upgrade may be about to usher in hype
