After four days of going down, Bitcoin is flat today, hovering around $27,932

Bitcoin is now trading at $27,932 after tracing out a steady $27,900 – $27,939 range today.

This uncertain state for Bitcoin is reflected by published market data as highly important Unemployment Rate data from United States beat analyst expectations of 3.6 with a reading of 3.5. United States Non Farm Payrolls published yesterday at 12:30 UTC came out at 236,000, falling short of the 239,000 projections and continuing its decline from the previous 326,000 figure. United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 226,100, while the previous figure was 181,100.

Bitcoin made an initial break below its 21 day Simple Moving Average at $27,900, a possible indication of a forthcoming negative trend. Bitcoin's upper Bollinger Band® is at $28,725, suggesting that a downward move may follow. In contrast, Bitcoin is approaching key support, around $149.86 away from $27,782. 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.

While Bitcoin is pretty flat so far today, mixed performances are seen elsewhere as FTX Token is up 9.54% to $1.36. NEAR Protocol stumbles 1.63% to trade around $2. UNICORN Token USD gained 1.62% and is currently trading at $6.47.

On an upward trend for about 30 days now. The past 3 months have been positive for Bitcoin as it added 64.81% compared to its 3-month low of $15,759.