- Bitcoin is trading flat near $116K as the cryptocurrency market awaits the US Federal Reserve rate cut decision scheduled for today at 2 p.m. ET.
- BTC is forming a bullish rounding bottom pattern on the 4H chart after recovering from a pullback to $107,700 following rejection at $117,800.
- A breakout above the neckline resistance zone of $116,700-$117,800 could confirm the bullish setup and target the next resistance at $119,500.
- The rounding bottom pattern projects a potential rally toward $127,900, with a positive Fed rate cut decision potentially serving as the breakout catalyst.
Date: Tue, Sept 16, 2025 | 01:10 PM GMT
The cryptocurrency market is trading cautiously ahead of the US Federal Reserve meeting today, which is scheduled to take place in less than 5 hours from now at 2 p.m. ET. Traders are waiting for the anticipated Fed rate cut decision, and Bitcoin (BTC) is currently moving flat, reflecting the cautious sentiment.
BTC is hovering near the $116K level, trading in green. But beyond the calm price action, the chart is showing a key technical development — a bullish pattern that could trigger a breakout in the coming sessions.
Rounding Bottom in Play?
On the 4H chart, BTC appears to be forming a rounding bottom, a classic bullish reversal pattern that typically indicates accumulation before a strong upward move.
The pattern began to take shape after BTC was rejected from the $117,800 zone, which triggered a pullback to as low as $107,700. Strong buyer support emerged at that level, driving a steady recovery. Now, BTC has reclaimed ground and is trading above $116K, approaching the neckline resistance.
What’s Next for BTC?
If the pattern continues to play out as expected, a breakout above the neckline resistance zone of $116,700–$117,800 would confirm the bullish setup. Such a move could set BTC on course for the next resistance at $119,500. Clearing that level would further strengthen the breakout signal.
According to the rounding bottom breakout projection, BTC could rally toward the $127,900 target. Interestingly, a positive Fed decision on rate cuts today could serve as the catalyst that sparks this breakout move.
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