After six days of going down, Bitcoin is stable today, trading around $23,134

A mostly flat day so far for Bitcoin, ranging between $23,100 and 23,243; currently at $23,134.

Bitcoin made an initial breakout above its 21 day Simple Moving Average at $23,242, a potential indicator of a newly emerging bullish phase. Bitcoin is approaching key support, around $268.24 away from $22,866. 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 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 jumps 9.54% to trade around $1.36. UNICORN Token USD closed at $6.43 (down 2.98%). Having closed the previous session at $0.068, TRON is up 1.12% today to currently trade at around $0.069.

Furthermore, the market is looking at United States Core Durable Goods Orders is projected to outperform its last figure with 0.1%. It previously stood at -0.2%; data will be released tomorrow at 13:30 UTC. United States Pending Home Sales projected to decline to 1% while previous data was 2.5%; data will be released tomorrow at 15:00 UTC.

Bitcoin has managed to gain 38.41% so far this year despite trading at lows around $15,759 previously.