{"id":642983,"date":"2024-09-19T02:35:57","date_gmt":"2024-09-19T02:35:57","guid":{"rendered":"https:\/\/www.ktsl888.com\/?p=642983"},"modified":"2024-09-19T02:35:57","modified_gmt":"2024-09-19T02:35:57","slug":"bitcoin-price-surges-fed-rate-cut","status":"publish","type":"post","link":"https:\/\/www.ktsl888.com\/analysis\/btc\/bitcoin-price-surges-fed-rate-cut\/","title":{"rendered":"Bitcoin Price Surges After Fed Rate Cut: New Rally Ahead?"},"content":{"rendered":"<p><em>Bitcoin price started another increase above the $60,500 resistance. The Fed reduced rates by 0.50%, sparking a bullish wave in BTC toward $62,500.<\/em><\/p>\n<ul>\n<li>Bitcoin is gaining pace above the $60,200 resistance zone.<\/li>\n<li>The price is trading above $60,500 and the 100 hourly Simple moving average.<\/li>\n<li>There was a break above a short-term declining channel with resistance at $60,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could extend gains if it stays above the $60,500 support zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Surges By 5%<\/h2>\n<p>Bitcoin price <a href=\"https:\/\/www.ktsl888.com\/analysis\/btc\/bitcoin-price-bounces-60k\/\" target=\"_blank\" rel=\"noopener \">remained supported<\/a> above the $58,500 level. BTC formed a base and started another increase above the $60,000 resistance zone after the Fed surprised with a 0.50% rate cut.<\/p>\n<p>There was a clear move above the $60,500 level. There was a break above a short-term declining channel with resistance at $60,000 on the hourly chart of the BTC\/USD pair. The price tested the $62,500 resistance zone. A high was formed at $62,535 and the price is now consolidating gains.<\/p>\n<p>There was a move below the $62,000 level. The price dipped and tested the 23.6% Fib retracement level of the upward move from the $59,164 swing low to the $62,535 high.<\/p>\n<p>Bitcoin is now trading above $60,500 and the <a href=\"https:\/\/www.ktsl888.com\/analysis\/btc\/bitcoin-risk-57500\/\" target=\"_blank\" rel=\"noopener \">100 hourly Simple moving average<\/a>. On the upside, the price could face resistance near the $62,200 level. The first key resistance is near the $62,500 level. A clear move above the $62,500 resistance might start a steady increase in the coming sessions.<\/p>\n<figure id=\"attachment_642984\" aria-describedby=\"caption-attachment-642984\" style=\"width: 1024px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/09\/Bitcoin_c0df14.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-642984 size-full\" src=\"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/09\/Bitcoin_c0df14.png?resize=1024%2C478\" alt=\"Bitcoin Price\" width=\"1024\" height=\"478\" srcset=\"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/09\/Bitcoin_c0df14.png?w=1835 1835w, https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/09\/Bitcoin_c0df14.png?w=460 460w, https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/09\/Bitcoin_c0df14.png?w=768 768w, https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/09\/Bitcoin_c0df14.png?w=860 860w, https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/09\/Bitcoin_c0df14.png?w=1536 1536w, https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/09\/Bitcoin_c0df14.png?w=750 750w, https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/09\/Bitcoin_c0df14.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-642984\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/figcaption><\/figure>\n<p>The next key resistance could be $63,200. A close above the $63,200 resistance might spark more upsides. In the stated case, the price could rise and test the $64,500 resistance.<\/p>\n<h2>Are Dips Supported In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $62,500 resistance zone, it could start a downside correction. Immediate support on the downside is near the $61,750 level.<\/p>\n<p>The first major support is $61,250. The next support is now near the $60,850 zone or the 50% Fib retracement level of the upward move from the $59,164 swing low to the $62,535 high. Any more losses might send the price toward the $60,000 support in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $61,250, followed by $60,850.<\/p>\n<p>Major Resistance Levels \u2013 $62,500, and $63,200.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price started another increase above the $60,500 resistance. The Fed reduced rates by 0.50%, sparking a bullish wave in BTC toward $62,500. Bitcoin is gaining pace above the $60,200 resistance zone. The price is trading above $60,500 and the 100 hourly Simple moving average. There was a break above a short-term declining channel with resistance at $60,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could extend gains if it stays above the $60,500 support zone. Bitcoin Price Surges By 5% Bitcoin price remained supported above the $58,500 level. BTC formed a base and started another increase above the $60,000 resistance zone after the Fed surprised with a 0.50% rate cut. There was a clear move above the $60,500 level. There was a break above a short-term declining channel with resistance at $60,000 on the hourly chart of the BTC\/USD pair. The price tested the $62,500 resistance zone. A high was formed at $62,535 and the price is now consolidating gains. There was a move below the $62,000 level. The price dipped and tested the 23.6% Fib retracement level of the upward move from the $59,164 swing low to the $62,535 high. Bitcoin is now trading above $60,500 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $62,200 level. The first key resistance is near the $62,500 level. A clear move above the $62,500 resistance might start a steady increase in the coming sessions. The next key resistance could be $63,200. A close above the $63,200 resistance might spark more upsides. In the stated case, the price could rise and test the $64,500 resistance. Are Dips Supported In BTC? If Bitcoin fails to rise above the $62,500 resistance zone, it could start a downside correction. Immediate support on the downside is near the $61,750 level. The first major support is $61,250. The next support is now near the $60,850 zone or the 50% Fib retracement level of the upward move from the $59,164 swing low to the $62,535 high. Any more losses might send the price toward the $60,000 support in the near term. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level. Major Support Levels \u2013 $61,250, followed by $60,850. Major Resistance Levels \u2013 $62,500, and $63,200.<\/p>\n","protected":false},"author":67,"featured_media":642985,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83361],"tags":[428,679,1144,78790,76835],"class_list":["post-642983","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-btc","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n<title>Bitcoin Price Surges After Fed Rate Cut: New Rally Ahead?<\/title>\n<meta name=\"description\" content=\"Bitcoin price started another increase above the $60,500 resistance. 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