Bullish phase under threat as Bitcoin stays range-bound

While Bitcoin is on a 5 day bullish trend, Today's session might suggest a slow down — Bitcoin trades at $28,100, after ending today at $28,100.

Investors are seeking long positions as Bitcoin price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Bitcoin's upper Bollinger Band® is at $26,200, indicating gains could follow. In contrast, first developed in 1978, the relative strength index (RSI) is a momentum oscillator that measures both the speed and rate of change in price movements within a market — measured as a 0-100 index. In Bitcoin's case, the RSI has fallen below 30, indicating the asset is oversold.

Despite muted price action in Bitcoin, chart analysis indicates it is positioned for a bullish run in the short term.

Other markets show mixed performance as FTX Token gained 9.54% and is currently trading at $1.36. Having closed the previous session at $6.37, UNICORN Token USD is up 1.62% today to currently trade at around $6.47.

Bitcoin is up 78.25% from the significant low of $15,759 it hit 3 months ago.