Over the past few weeks you may have noticed, as a trader and crypto enthusiast, that the massive exchange, Coinbase has been the source of a lot of excitement in the crypto space. Whenever the exchange reveals a listing of a token or coin there is a massive jump of excitement among traders and they go head on to trade the latest listing.
Spark is a web-based GUI wallet with built-in Electrum software designed for speed, safety and simplicity that utilizes Blockstream’s Lightning implementation c-lightning as its backend. The platform allows for easy spending and receiving of bitcoins over the Lightning Network, which is renowned for its payment speeds. Users can also run their own Bitcoin-based nodes, c-lightning nodes and Spark GUIs in a completely trustless environment.
Independent developer Nadav Ivgi is the developer behind the project. Also an ambassador at the Tel Aviv Bitcoin Embassy and the founder of Bitrated, a company that seeks to bring stronger consumer protection to blockchain applications, Ivgi developed Spark through a sponsorship from blockchain development company Blockstream.
After a feeble rally on diminishing volume, bitcoin is currently in the middle of its first major pullback in about 2 weeks. Over the last week or so, bitcoin managed to break its sustained downtrend and trend back inside the macro trading range (TR) — both of which are quite bullish market characteristics. However, today’s pullback has us retesting the support of the macro TR (outlined in blue):
Figure 1: BTC-USD, 1-Day Candles, Macro Trading Range