Crypto analyst Mags (@thescalpingpro) has forecasted that Bitcoin may surge to $155,600 based on Fibonacci extension levels.
Mags indicates that Bitcoin has successfully converted the 1.618 extension into a support level and is now targeting the 2.618 extension, which corresponds with the $155,600 mark.
Related: Tom Lee Predicts Significant Movement for Bitcoin and Ethereum Following Fed Rate Cuts
Source: Mags on X
The price of BTC is currently stabilizing above $116,000 after reaching a high of $124,100 in mid-August. With this target firmly established, Bitcoin’s current trading price stands at $116,843.03—an increase of over 4% in the last week according to CoinMarketCap data.
The FOMC Meeting Approaches: Neutral Outlook vs Optimistic Sentiment
The forthcoming FOMC meeting is regarded by Swissblock as one of this year’s most significant macroeconomic events. While the S&P 500 index continues to reach record highs, Bitcoin appears to be decoupling from traditional equities.
There are too many overly optimistic predictions ahead of tomorrow’s FOMC meeting.
A likely scenario points towards mid-term increases but with heightened volatility as market expectations adjust for a more neutral Federal Reserve.
The base case suggests a cut of 25 basis points; however, guidance may remain neutral rather than adopting an excessively dovish stance that many anticipate. https://t.co/Z90PpFyKcQ
— Swissblock (@swissblock__) September 16, 2025
Swissblock cautioned about potential “sell-the-news” reactions but noted that it’s improbable for BTC to enter a bearish phase.
The prevailing expectation leans towards sustained upward movement accompanied by increased volatility as markets recalibrate following a potential rate cut of 25 basis points alongside neutral guidance instead of the overly dovish outlook currently factored in.
$116,000 Resistance Level: A Crucial Breakout Point
An analysis from Bitfinex highlighted that reclaiming the $116,000 resistance level is essential for Bitcoin before it can continue its upward trajectory effectively.
After hitting its peak at $124,100 in August, momentum has waned significantly; numerous recent investors find themselves at losses within the range between $108,000 and $116,000.
A successful breakout above this resistance could reignite bullish sentiment and validate Mags’ Fibonacci-based projection targeting $155,600. Until then though,$116k remains an upper limit restricting further gains.
Surge in Accumulation: An Influx of BTC Worthing Over$3 Billion
On-chain analytics from CryptoQuant reveal encouraging trends ahead of the Fed’s rate decision with nearly 29,.685 BTC (valued at approximately$3.4 billion) entering accumulation addresses—the second-largest single-day inflow recorded thus far in2025 .
Source : CryptoQuant
This influx elevates total holdings within accumulation addresses up to around two point eight four million , boasting an average acquisition cost set around seventy-two thousand four hundred thirty-seven dollars . Such movements reflect robust confidence among long-term holders despite prevailing macroeconomic uncertainties .
Related : Price Forecast ForBitcoin (BTC) OnSeptember17
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