Bitcoin Price Surges After Fed Rate Cut: New Rally Ahead?

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