Buying Bitcoin with $118,800 target amid consolidation

The BTCUSD pair is now moving sideways following the completion of its upward momentum, with a peak at $116,753.88. At the time of writing this forecast, the price was sitting near $115,800, close to the local low set during a previous correction. There is nothing unnatural in such market uncertainty following a significant rally. This creates the potential for another surge supported by additional fundamental catalysts, such as the upcoming Federal Reserve interest rate decision.

The daily (D1) timeframe highlights an overall bullish momentum, despite the current slowdown in the uptrend. The Stochastic Oscillator is declining after entering the overbought zone but remains in the neutral-bullish area, with %K around 66 and %D near 76. These figures point to a breather rather than increasing seller pressure. The On-Balance Volume (OBV) provides another confirmation. Even though trading volumes have decreased, the broader uptrend remains, indicating continued interest among buyers.

On the four-hour (H4) timeframe, the technical setup favors the bulls. The Stochastic Oscillator indicates strong buying interest, as the %K line at 57 has crossed above the %D one at 38 and continues to rise, increasing the chances of a break above the local resistance level of $116,000. OBV dynamics on the H4 timeframe are also rising, confirming the bullish sentiment in the market.

The overall technical setup suggests that the current consolidation is likely to be a pause before a further upward move to test the $116,000 and $117,500 resistance levels.

Reckon with the following trading plan:

Buy BTCUSD at the current price. Take profit: $118,800. Stop loss: $114,500.

This forecast remains valid from September 16 to September 23, 2025.