The bullish divergence (price vs RSI) seen in April has played out well, with the Bitcoin (BTC) price rallying close to 40% off the 8 April lows. The price action and tape have been exactly what the bulls want to see in a rally – a strong breakout from the 8-day consolidation on 21 April, taking price into $97,944, before finding strong support on multiple occasions into $92,840, followed by a strong impulsive rally back above $100,000. We saw very little defence and supply (from the sellers) in the move through $100,000, and perhaps after spending much of January above $100,000, the taboo of having 100 as the front ... (full story)