- BTC has broken its uptrend since March on the four-hour chart and failed to reverse a series of lower price highs since April 1.
- Support is seen around the April 17 sell-off low just below $52,000.
- The relative strength index (RSI) on the four-hour chart registered an oversold reading during the weekend sell-off and is now neutral.
- BTC is back in a consolidation phase that began around February. Since then, price rallies have been limited around the $60,000 resistance zone with frequent drawdowns of roughly 15%-20%.
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