The BTC rate closed the weekend gap of $58,655-$58,895 and immediately fell out of the range. However, as was written, while the price is above $57,709, there is a possibility that the low of wave C has been set.
On the four-hour TF #BTC, there is a possibility of a reversal into an upward trend, but for this, both the current candle and the next ones above the level of $58,315 need to be closed, where EMA 50 is currently located on another TF, the hourly one. This is now an important support, the breakout of this EMA as resistance is now important to hold on to.