Bitcoin Tests Higher Levels!!!Bitcoin has seen solid support from $37.7K. We anticipated weakness and a potential breakdown but it looks like momentum from the London Hard Fork news in ethereum has bled into Bitcoin. Typically Bitcoin leads Eth, but it seems the tables have turned this time. We have seen a dramatic rise in the Kovach OBV, which has tapered very recently as BTC appears to be establishing value between $40K and $40.8K. This is a very narrow range between two technical levels. Bitcoin will not hold this forever and we can expect a move either way. To keep the bull momentum going, we must first break $41.9K. This seems to be the barrier to higher levels in the $40K's. If we can't break through then $37.7K should provide support for now
Londonhardfork
CryptoRush ETH2 - London Hard Fork 5 AUG 2021ethereum.org
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Big changes are coming...
Ethereum is set to go through a lot of changes in the future, first with the London hard fork introducing EIP-1559.
EIP-1559 is an Ethereum Improvement Proposal that, along with four other EIPs, will signal the start of Ethereum's 'Triple Halvening' event.
Here's all you need to know about EIP-1559.
EIP-1559 London Hard Fork Release Date
The current date for EIP-1559's release is set for August 5, 2021. Specifically, the update will occur at block 12,965,000, expected to take place at 11:55 AM UTC/12:55 PM BST/7:55 AM ET/4:55 AM PT.
From 11:45 AM UTC, Binance has announced it will temporarily suspend ETH and ERC-20 token withdrawals and deposits until after the hard fork occurs.
The Ethereum core developers had previously wanted EIP-1559 to release on July 14. However, as specified by Tim Beiko on GitHub, the proposed date shifted to account for the upcoming difficulty bomb.
On 6 July, Beiko submitted a pull request for the mainnet activation of the London upgrade at block 12,965,000. This date has now been confirmed.
The London hardfork is currently live on the three Ethereum testnets, following Rinkeby's upgrade on July 7.
After an invalid transaction bug caused issues on Ropsten on July 21, whispers of a delayed release started to circle, but this has since been refuted by the Ethereum team. Posting an update on the Ethereum Blog, the team stated:
The block number for London is unchanged, and still is 12 965 000. Node operators using an affected client MUST upgrade to the latest version.
Ethereum is not the only cryptocurrency to go through updates this year. Cardano's Smart Contract upgrade and the bitcoin Taproot upgrade are both slated for 2021.
Ethereum ranging in a channel (break possible from london HF)Ethereum ranging in a channel currently, but if broken could yield awesome gains. Great chance of breaking channel as London Hardfork is coming up august 4th. Be very careful with deadlines, if hardfork experiences delays, could mean massive impact for breakdown in trade, otherwise its looking like an easy break of channel if BTC remains kind.