On the H4 chart of BTCUSD, Bitcoin has been carving a descending channel since early May, dropping from the 74,500 level to the low‑60000 region. The most recent candles (from 2026‑06‑04 onward) show a tightening range around 60,500–61,000, with the last two H4 bars closing marginally higher on modest volume, suggesting that sellers are losing steam near this zone. The price is hugging a strong demand area formed around 60,700‑60,900, which previously acted as a swing low in early June. Volume contraction during the pull‑back and a slight uptick on the rebound reinforce the idea of a nascent bullish momentum.…

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