Bitcoin Price has rallied to $58,000 high but was resisted. Today, Bitcoin is fluctuating below the $58,000 resistance. BTC price now fluctuates in a tight range between levels $57,000 and $58,000. BTC/USD is trading at $57,608 at the time of writing Today, BTC/USD has reached and retested the $58,000 resistance level but faces rejection. The recent retest and subsequent consolidation below the $58,000 resistance is an indication of a further upward move. In the lower time frame, BTC price now fluctuates in a tight range between $57,000 and $58,000. Analysts think that consolidation near a resistance level increasing the chances of a breakout. Presently, if price breaks above the $58,000 high, the market will rally to $62,000 high. Similarly, if price breaks below the $57,000 support, a decline to $54,000 support is likely. Meanwhile, the king coin is retracing after rejection from the recent high. On the daily chart, the market is retracing to the support of the 21-day and 50-day SMAs. The king coin will resume an upward move if the current support holds.