Bitcoin inches up to $28,400 extending bullish run

Having added to its $1,016.82 increase during 6 days of gains, Heading in the same direction for now — marginally higher but lacking a clear-cut direction, Bitcoin is trading at $28,400 after ranging between $28,263 and $28,447 today.

United States Core Durable Goods Orders data will be released today at 12:30 UTC, with an expected decline to -0.2%.

On the flip side, highly important Consumer Confidence data from United States beat analyst expectations of 104 with a reading of 101.3.

Meanwhile, United States New Home Sales (Mar) came out at 683,000, while a consensus of analysts was expecting 630,000. United States Building Permits released yesterday at 12:10 UTC with a figure of 1.43 million, while the previous figure was 1.55 million.

Bitcoin made an initial breakout above its 10 day Simple Moving Average at $28,471, a potential indicator of a newly emerging bullish phase. On the other hand, note that Bitcoin could be slowing down soon as it approaches resistance at $28,474. Of course, crossing it might suggest further gains are ahead.

Overall, looking at the technical analysis landscape, it seems Bitcoin might continue pointing upwards in the short term.

Other markets are also showing gains as FTX Token is up 9.54%.

At the same time, UNICORN Token USD is down to $6.43, losing $0.197, after closing at $6.63 in the preceding trading session.

Moreover, macro data could boost sentiment further as United States Crude Oil Inventories is projected to outperform its last figure with -1.49 million. It previously stood at -4.58 million; data will be released today at 14:30 UTC.

Also worthy of note, United States Core Durable Goods Orders expected to decline to -0.2% while its preceding data was -0.1%, data will be available today at 12:30 UTC. Tomorrow at 14:00 UTC data for United States Pending Home Sales will be released, with an expected decline to 0.5% from the preceding figure of 0.8%.

This year has been a bright one for Bitcoin after trading as low as $15,759 and going on to appreciate by 67.11% year to date.