Bitcoin dull so far today at $20,600, while in the midst of a bearish run

While on a 23 day downtrend Today is looking a bit better: without a clear-cut direction, Bitcoin is trading around $20,600 and ranging between $20,449 and $20,721.

Bitcoin made an initial breakout above its 5 day Simple Moving Average at $20,924, a potential indicator of a newly emerging bullish phase. Bitcoin's upper Bollinger Band® is at $25,041 and the lower is $19,757. Bitcoin is climbing away and is now $650.58 from the $19,954 support line.

Although price action remains in a stalemate, technical analysis suggests Bitcoin could be primed for a break to the upside.

Meanwhile, mixed performances are seen elsewhere as FTX Token is up 9.54%. UNICORN Token USD closed at $6.43 (down 2.98%).

Approximately 11 months ago, Bitcoin reached a significant high of $47,466 but has struggled to hold onto its gains and declined 56.58% since then.