Bitcoin cryptocurrency trades up $889.54, approximately 3.02% higher going into tomorrow

Tentatively higher from an earlier low of $29,242, Bitcoin is up to $30,336 today, adding $889.54, or 3.02%, to today's closing price of $29,447.

At the same time, United States Building Permits (Mar) released today at 12:30 UTC with a figure of 1.41 million, while the previous figure was 1.55 million. United States API Weekly Crude Oil Stock came out at -2.67 million, while a consensus of analysts was expecting -2.46 million. Housing Starts in United States fell short of market expectations (0.4%) with a reading of -0.8%, continuing the decline from the previous figure of 7.3%.

With regards to technical trend indicators, chart analysis show that Bitcoin made an initial breakout above its 10 day Simple Moving Average at $29,864, a potential indicator of a newly emerging bullish phase. Analysis based on the asset volatility indicates that Bitcoin's upper Bollinger Band® is at $31,350, this is a slight indication of a slowdown. As the trading day comes to an end, chart analysis indicates Bitcoin is $437.03 away from testing key resistance at $30,773. Peaking above this level could inspire market bulls and open the path to further gains.

Overall, while Bitcoin has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.

Bitcoin shows positive signs, other assets are also on par: FTX Token is up 9.54%. Ripple improves 4.52% to trade around $0.534. Having closed the previous session at $8.17, Chainlink USD is up 4.77% today to currently trade at around $8.56.

Furthermore, the market is looking at tomorrow at 14:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to -1 million from the preceding figure of 597,000.

Trending positively for about a month. This year has been a bright one for Bitcoin after trading as low as $15,759 and going on to appreciate by 87.17% year to date.