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.
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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.