Bitcoin price decreased from the $53,761 swing low to $60,040 high below 23.6 percent Fib Retracing level. Price has become near the supplement of $57,000 and the moving average of 100 hours. Bitcoin price is expected to plunge in the near term to level $53,500. Bitcoin could start a new rise if it stays above $56,200 and $56,000. An initial upside resistance is about $58,500.