Bitfinex's Lightning node growing faster than any other: Report

On examining Bitcoin’s price action over the last week, Arcane Research pointed out how the 50-week moving average had crossed over the 100-week moving average, with BTC’s price holding in the area between $7100 and $7600, possibly an accumulation zone. The report also showed, using a ‘Point of Control’ line on the volume profile, that $7300 is the price level which saw the most volume over the last few weeks.

“A break below POC, will most likely see the price fall downwards to the $7,100 area. If the BTC price moves upwards, $8,100 would be a likely resistance level.”

The Futures premium rates were also shown to be moving in opposite directions, decreasing by around 2% on average for the BTC March 2020 contracts, and increasing by around 0.5% since last week for BTC December contracts. Arcane also explained how Futures prices normally move closer to the spot price as the expiry date closes in. Read More...