The downtrend of Bitcoin showed up in late January 2022.
Within the trading range between 33000-45500, the pullbacks of Bitcoin in February and March 2022 were accompanied by increasing of supply.
It was worth to note that the test of the reaction in March formed a slightly higher low with decreasing of supply, which was considered as a successful test.
Should Bitcoin break below this support level at 44000 with increasing supply followed by inability to rally back above, Bitcoin could test the immediate support level at 42500 followed by 38000.
SI outperforms the rest as the current backup action is still a lot higher above the axis line followed by MSTR and RIOT, which are currently testing the axis line.