I expect Bitcoin to attack the Heavy Support zone($58,700)

Bitcoin started to fall for the umpteenth time with the news that the Mt.Gox exchange would return Bitcoins to the losers, as if the Mt. Gox exchange would start refunding

BTCUSDT
and

BCHUSDT
from the beginning of July 2024 (almost 6 more days).

After a few months, the Fear and Greed index entered the "Fear" range again. But I think it will also enter the "Extreme Fear" range.

Note: Bitcoin has come below the 21_SMA(Weekly) after almost 250 days.

Note: When a reversal pattern fails, it will play a continuation role.

According to the theory of Elliott waves, Bitcoin seems to be completing the microwave 4 of the main wave 3. If the Heavy Support zone($61,100_$58,700) breaks, we can confirm the end of wave 4.

Before concluding, let's take a look at the Market Cap USDT Dominance% (USDT.D%) chart.

USDT.D% has managed to break the Important Downtrend line, and this indicates the increase of USDT.D% and possibly the break of the Resistance zone(5.54%_4.97%) in the following days, which also confirms the fall of Bitcoin.
snapshot

I expect Bitcoin to attack the Heavy Support zone($61,100_$58,700) again after the completion of the microwave 4 of the main wave 3, and the break of the Heavy Support zone can coincide with the news of the refund of the Mt.Gox exchange.

Note: Bitcoin break the Resistance zone($63,450_$62,100), the scenario is change.

Note: An important point you should always remember is capital management and lack of greed.

Bitcoin Analyze (BTCUSDT), 4-hour time frame ⏰.

Do not forget to put Stop loss for your positions (For every position you want to open).

Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.