End of rally? After six days of gains, Bitcoin is down $98.8 today

Trading lower, Bitcoin is currently down $98.8 as it ranges between $30,900 and $31,325 so far today.

Meanwhile, United States ISM Manufacturing PMI (Jun) released yesterday at 14:00 UTC with a figure of 46, while the previous figure was 46.9. United States ISM Manufacturing Employment (Jun) came out at 48.1, while a consensus of analysts was expecting 50.8. Fresh ISM Manufacturing Prices (Jun) data from United States came out at 41.8.

Bitcoin made an initial break below its 3 day Simple Moving Average at $30,948, a possible indication of a forthcoming negative trend. In contrast, Bitcoin could begin to recover as it approaches significant support, now $351 away from $30,700. Dipping below could be an indication that further losses are ahead.

Following today's unexpected losses, extensive multifactorial technical analysis forecasts Bitcoin to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the Bitcoin is expected to attract significant bearish sentiment in the coming days.

In the meantime, negative performances are also seen in other markets, Bitcoin Cash is trading around $282.13 (down $8.27). EOS is down $0.015 from the beginning of the session and now trades around $0.752.

Other assets are showing positive performances as FTX Token gained 9.54% and is now trading at $1.36.

Furthermore, United States FOMC Meeting Minutes will be released tomorrow at 18:00 UTC.

The past 6 months have been positive for Bitcoin as it appreciated 86.72%, having traded as low as $15,759.