Mixed sentiment leads Bitcoin cryptocurrency to trade sideways; establishes tight $27,838 to $28,100 range

Bitcoin is now trading at $27,939 after tracing out a steady $27,838 – $28,100 range today.

Bitcoin made an initial break below its 21 day Simple Moving Average at $27,934, a possible indication of a forthcoming negative trend. Bitcoin's upper Bollinger Band® is at $28,700, suggesting that a downward move may follow. On the other hand, note that Bitcoin is oscillating around the $27,828 level serving as support.

Despite the market lacking direction, technical chart analysis strongly suggests Bitcoin is positioned for a downward move in the near term.

While Bitcoin is pretty flat so far today, mixed performances are seen elsewhere as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Dogecoin is up 1.95%. UNICORN Token USD rises 1.62% to trade around $6.47.

Registering some good gains for about 28 days now. Bitcoin now trading 63.11% above its 3-month low of $15,759.