the scarcity of the Bitcoin supply will lead to an increase in Bitcoin demand, leading to a rise in prices.
That is not how it works 
Yes the supply of Bitcoin will decrease in the next months but that doesn't mean that the demand will increase immediately like what you said. Maybe the supply will decrease but the demand will still be the same. Maybe the supply will go lower and the same time demand will go lower too. The decreasing of supply of Bitcoin doesn't mean that the demand will increase and will lead to a rise in prices.
Seems we are entering the bear market again and we are only a few months away from the Halving
We will be in a bear market if we are 21% below from its recent highs. RSI is slowly going upwards base on the charts and luckily, we managed to hold the 21 weekly EMA which is an important support too. After this correction, I expect for a rise in the next weeks before the halving happen .