Crypto Analyst Mags (@thescalpingpro) predicts that Bitcoin can rise to $155,600 using the Fibonacci extension level.
According to Mags, Bitcoin reverses the 1.618 extension to support, aiming for a 2.618 level, which coincides with the $155,600 zone.
Related: Tom Lee says Bitcoin and Ethereum can see “monster movement” after Fed rate reduction
BTC has consolidated over $116,000 after touching $124,100 in mid-August. With the expansion goals being played firmly, Bitcoin has grown by more than 4% last week, trading at $116,843.03, according to CoinMarketCap data.
FOMC Loom: Neutral Guidance vs. Bullian Bias
According to SwissBlock, the upcoming FOMC meeting is one of the most anticipated macro events of the year. The S&P 500 is pushing to an all-time high, while Bitcoin shows signs of separation from stocks.
Too many warped bullishness in tomorrow's FOMC.
Possible pathways are high over the medium term, but volatility increases as expectations are re-ricked for more neutral FREBs.
Base case: 25bp cut, but I'm most excited about the neutral guidance and the very dub tone. https://t.co/z90ppfykcq
– September 16, 2025
SwissBlock warned that a “sell news” response is possible, but added that BTC is unlikely to be bearish.
Instead, the most likely outcome is that the market will be adjusted to a rate reduction of 25bps with neutral guidance, so it will continue to move more volatility and upwards to meet more expectations currently priced.
$116,000 Resistance: Key Breakout Level
Bitfinex analysts said in the report that $116,000 is a critical resistance that Bitcoin must recapture before it resumes its uptrend.
After peaking at $124,100 in August, the momentum has slowed, with many buyers these days now underwater in the $108,000-$116,000 range.
A breakout over $116,000 could reinvigorate bullish emotions, validating Mags' Fibonacci-based goals of $155,600. Until then, levels will remain on the ceiling to reduce the momentum of the rise.
Accumulation surge: $3.4 billion added in BTC
Cryptoquant's on-chain data creates bullish pictures. A few hours before the Fed's rate decision, 29,685 BTC ($3.4 billion) flowed to the second largest daily influx of 2025, the accumulation address.
This brings the total BTC held at the accumulation address to 2.84 million, with an average cost base of $72,437. This move shows strong confidence among long-term holders, even in the face of macro uncertainty.
Related: Bitcoin (BTC) price forecast for September 17th
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