Bitcoin moved back above the psychological support level of 30,000 yesterday, then spent the overnight session consolidating in a tight range above that level.
Now that the price of $BTC is showing a volatility contraction near the highs of its range, a breakout above the week-long consolidation may be coming soon.
We have returned to seeing slight bulllish divergence in crypto vs. stocks.
Yesterday, the Nasdaq 100 ($QQQ) was down about 5%, but Bitcoin ($BTC) and most of the crypto market held up relatively well.
The crypto market moved lower today, prompted by a sharp sell-off in the stock market.
However, $BTC and the altcoin market showed impressive resiliance by finding support at mid-day and began edging higher.
Earlier today, we sold HALF of our $MANA position in the Morpheus Crypto portfolio for a solid gain of +17% since our May 13 buy entry.