After four days of persistent declines, Bitcoin stabilises around $27,653

Without a clear-cut direction, Bitcoin is trading around $27,653 and ranging between $27,583 and $27,760.

Bitcoin is approaching key support, around $645.83 away from $27,000. 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. Bitcoin's upper Bollinger Band® is at $29,900 and the lower is $26,931.

Despite muted price action in Bitcoin, chart analysis indicates it is positioned for a bullish run in the short term.

While Bitcoin is pretty flat so far today, mixed performances are seen elsewhere as FTX Token leaps up 9.54% to trade around $1.36. Ripple withdraws 0.86% to trade around $0.424. Having closed the previous session at $6.37, UNICORN Token USD is up 1.62% today to currently trade at around $6.47.

Data to be released later is expected to clarify investor sentiment while boosting price action volatility as United States Consumer Price Index figure is projected at 0.4%. It previously stood at 0.1%; data will be released tomorrow at 12:30 UTC. United States Crude Oil Inventories projected to decline to -1.6 million while previous data was -1.28 million; data will be released tomorrow at 14:30 UTC. United States Core Consumer Prices figure is projected at 0.4%. It previously stood at 0.4%; data will be released tomorrow at 12:30 UTC.

Bitcoin has gained 64.76% since its lowest print of $15,759 earlier this year.