Is it the end of Bitcoin's rally? After three days of gains, it is down by 0.47% today

Bitcoin weakened earlier in the day, before moving away from its $26,879 low and recovering back to $27,042.

United States Core Retail Sales data will be released today at 12:30 UTC, with an expected improvement to 0.4%. Bitcoin reaction to indicator information will follow.

While price action maintains a negative bias, United States TIC Net Long-Term Transactions (Mar) came out at 133.3 billion, while a consensus of analysts was expecting 85.4 billion. United States NY Empire State Manufacturing Index (May) released yesterday at 12:30 UTC with a figure of -31.8, while the previous figure was 10.8.

Technical analysis trend indicators suggest that Bitcoin made an initial break below its 3 day Simple Moving Average at $26,855, a possible indication of a forthcoming negative trend. Asset volatility analysis shows that Bollinger Bands® shows an indication of recovery: the lower band is at $26,200, a low enough level to, generally, suggest that Bitcoin is trading below its fair value. Technical chart analysis shows after reaching the $26,945 support zone, Bitcoin bounced and climbed $96.67 above it.

With market volatility ebbing, the current technical outlook indicates Bitcoin will remain range-bound for the immediate future.

In the meantime, negative performances are also seen in other markets, UNICORN Token USD is down to $6.43, losing $0.197, after closing at $6.63 in the preceding trading session. Ripple is down $0.004 from the beginning of the session and now trades around $0.424.

Other assets are showing positive performances as FTX Token surges 9.54% to trade around $1.36.

Looking ahead, ongoing depreciation may be prolonged as projections for United States Crude Oil Inventories are set for a continuation of decline with -1.3 million while previous data was 2.95 million; data will be released tomorrow at 14:30 UTC.

In addition, United States Retail Sales is projected to outperform its last figure with 0.8%. It previously stood at -0.6%; data will be released today at 12:30 UTC. United States Core Retail Sales is projected to outperform its last figure with 0.4%, having previously been at -0.4%. The figure will be published today at 12:30 UTC.

Pointing downwards for around a month. This year has been a bright one for Bitcoin after trading as low as $15,759 and going on to appreciate by 65.93% year to date.