$BTC The price has been gradually declining since March, retesting each of the uptrend channels it has been consistently using.

- After completing the 2nd retest at 70K, the price dropped to 49K.

- In fact, 3 days ago, the price tested the lowest of these 3 parallel uptrend channels exactly at $60,600, thus completing the 4th retest.

- The price, which dropped to

49K after

the 2nd retest zone, is forming a diamond pattern. You can see this in the red lines. This is another reason for the downtrend."

Key Points:

Retests: The price has been retesting previous support levels (uptrend channels)

multiple times.

Diamond Pattern: The price is forming a diamond pattern, which is often considered a bearish reversal signal.

Downtrend: Overall, the analysis indicates a strong downward trend in the price.

#NeiroOnBinance #BinanceLaunchpoolHMSTR #BinanceLaunchpoolCATI #BinanceLaunchpoolCATI #FTXSolanaRedemption