Bearish Bitcoin currently $78.22 lower after trading as high as $27,238

Trading lower, Bitcoin is currently down $78.22 as it ranges between $27,125 and $27,238 so far today.

Average Hourly Earnings in United States fell short of market expectations (0.4%) with a reading of 0.3%, continuing the decline from the previous figure of 0.4%. Unemployment Rate in United States fell short of market expectations (3.5) with a reading of 3.7, continuing the decline from the previous figure of 3.4.

Nonetheless, encouraging indicators for Bitcoin published earlier when data for United States Non Farm Payrolls published yesterday at 12:30 UTC came out at 339,000, beating projections of 180,000 and showing improvement over the preceding figure of 294,000.

Bitcoin made an initial break below its 10 day Simple Moving Average at $27,084, a possible indication of a forthcoming negative trend. Bitcoin's upper Bollinger Band® is at $27,900 which indicates a further downward move may follow. In contrast, Bitcoin could begin to recover as it approaches significant support, now $407.6 away from $26,753. Dipping below could be an indication that further losses are ahead.

Looking forward, Bitcoin is poised to extend its strong downtrend and continue declining.

Positive performances can be seen by looking at other markets as FTX Token gained 9.54% and is now trading at $1.36. TRON climbs 0.75% to trade around $0.084. UNICORN Token USD gained 1.62% and is currently trading at $6.47.

On a negative trend for around a month. Bitcoin has gained 63.49% since its lowest print of $15,759 earlier this year.