A slow down? After three days of going up, Bitcoin is flat today, hovering around $28,300.

Bitcoin is now trading at $28,300 after tracing out a steady $28,200 – $28,423 range today.

Price action remains constrained around the key Fibonacci level of $28,200 currently serving as support. If price action breaks below, the next Fib hurdle is $25,156. Bitcoin's upper Bollinger Band® is at $28,743, suggesting that a downward move may follow. Despite this, Bitcoin is approaching key support, around $396.39 away from $27,900. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.

Despite the market lacking direction, technical chart analysis strongly suggests Bitcoin is positioned for a downward move in the near term.

At the same time, mixed performances are seen elsewhere as FTX Token soars 9.54% to trade around $1.36. Polkadot closed at $6.13 (down 1.25%). NEAR Protocol is down to $1.98, losing $0.022, after closing at $2 in the preceding trading session.

Data to be released later is expected to clarify investor sentiment while boosting price action volatility as United States EIA Short-Term Energy Outlook is expected tomorrow at 16:00 UTC.

Registering some good gains for about a month now. The past 3 months have been positive for Bitcoin as it added 63.29% compared to its 3-month low of $15,759.