On Wednesday, the FOMC meeting minutes revealed the FED’s plans to reduce the balance sheet by $95bn per month.
At the time of writing, Bitcoin was up by 0.84% to $43,540.
Bitcoin will need to move through the day’s $43,940 pivot to make a run on the First Major Resistance Level at $44,754.
In the event of another extended rally, Bitcoin could test the Second Major Resistance Level at $46,333 and resistance at $46,500.
Failure to move through the pivot would bring the First Major Support Level at $42,360 into play.
Looking at the EMAs and the 4-hourly candlestick chart , it is a bearish signal.