• Analyst Mags forecasted that Bitcoin could reach $155,600, based on Fibonacci extensions.
• FOMC decision expected is to bring volatility, with base case a 25bps rate cut.
• $116,000 resistance is the key level Bitcoin must reclaim for fresh upside.

Crypto analyst Mags (@thescalpingpro) has projected Bitcoin could climb to $155,600 using Fibonacci extension levels. 

According to Mags, Bitcoin has flipped the 1.618 extension into support and is now aiming for the 2.618 level, which aligns with the $155,600 zone.

Related: Tom Lee Says Bitcoin and Ethereum Could See ‘Monster Move’ After Fed Rate Cuts

BTC is consolidating above $116,000 after touching $124,100 in mid-August. With the extension target now firmly in play, Bitcoin trades at $116,843.03, up more than 4% in the past week, as per CoinMarketCap data.

Read The Full Article Bitcoin Traders Eye $116K Breakout After Fed Test To $155K Fibonacci Target On Coin Edition.

• Analyst Mags forecasted that Bitcoin could reach $155,600, based on Fibonacci extensions.
• FOMC decision expected is to bring volatility, with base case a 25bps rate cut.
• $116,000 resistance is the key level Bitcoin must reclaim for fresh upside.

Crypto analyst Mags (@thescalpingpro) has projected Bitcoin could climb to $155,600 using Fibonacci extension levels. 

According to Mags, Bitcoin has flipped the 1.618 extension into support and is now aiming for the 2.618 level, which aligns with the $155,600 zone.

Related: Tom Lee Says Bitcoin and Ethereum Could See ‘Monster Move’ After Fed Rate Cuts

BTC is consolidating above $116,000 after touching $124,100 in mid-August. With the extension target now firmly in play, Bitcoin trades at $116,843.03, up more than 4% in the past week, as per CoinMarketCap data.

Read The Full Article Bitcoin Traders Eye $116K Breakout After Fed Test To $155K Fibonacci Target On Coin Edition.