Bitcoin Pre-Halving Dip Expected: Will BTC Rally Before US Fed Decision?
Summary
Bitcoin is currently in a bearish formation, down 18% from its recent high, similar to the pre-halving cool-off in 2020. Historically, Bitcoin corrects lower before halving, then rallies to new highs after halving due to decreased supply. The upcoming halving in April 2024 could have market implications, potentially offering entry points for investors. The current candlestick arrangement suggests a southward path, with resistance from the middle Bollinger Band. The Federal Reserve's decisions will impact Bitcoin's demand. The coming days will shape Bitcoin's medium to long-term evolution, with the Fed's interest rate decision being a key driver.
