Bitcoin News: As $BTC Price Hits $60K, Will FOMC Meeting Drive A 10% Jump? - CoinPedia Analytics

With a bullish recovery this Tuesday, Bitcoin bounces 3.61% to create a bullish engulfing candle. The recovery rally undermined the 3-day crash and delayed the death cross event between the 50 and 200-day EMA. However, the higher price rejection led to a closing at $60,316. Currently, the BTC price is struggling to sustain dominance above the $61,000 mark as it forms a minor doji candle. 

However, the recent recovery run from the $54,000 mark has led to a 12.26% surge over the last 11 days within two weeks. As the recovery run surpasses the 23.60% Fibonacci level and the two dynamic moving averages, the uptrend will likely hit the $63,847 mark or the 50% Fibonacci level. The BTC price is currently trading at $60,227.88 with an intraday gain of 2.98%. Yesterday, the BTC price reached the height of $61,331. However, with the FOMC meeting just today, the speculations in the crypto market are on the rise.