Bitcoin (BTC) is down about 5% over the past 24 hours after sellers became more active than buyers around the $65,000 resistance level.
The cryptocurrency is stabilizing around $60,000 support and appears to be oversold on intraday charts.
Still, the RSI on the daily chart is neutral as upside momentum continues to wane. This suggests intraday buyers will be quick to take profits around the $63,000-$65,000 resistance zone.
A period of consolidation could persist over the next few days before BTC establishes a stronger footing around the $60,000 support zone.
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