Bitcoin Decline Could Stabilize Around $60K Support

Bitcoin (BTC) dipped below $65,000 as buyers continue to take some profits. The cryptocurrency was trading around $64,000 at press time and is down 2% over the past 24 hours. Lower support is seen around $60,000, which could stabilize the current pullback.

The relative strength index (RSI) on the four-hour chart is near oversold levels, similar to Oct. 27, which preceded a near 10% price rise. This time, however, buyers could face resistance around $65,000 given the loss of upside momentum this week.