<h1>Target's Hit, What's Next?</h1>

- As expected and stated in previous post we smashed my main target at $6,300 and even went further down to $6,071 which I also flagged for in my post 9 days ago.  (https://steemit.com/bitcoin/@benkalashnikov/3drhgp-bitcoin-short-term-view-bearish)
- Rising wedge pattern broke as expected and we have formed an ABC correction.

![Screen Shot 2018-07-16 at 08.14.14.png](https://cdn.steemitimages.com/DQmWGRaBT4pCc2Cu5JBThCCEkqXk4rkvEaukCcEKmUp8CJd/Screen%20Shot%202018-07-16%20at%2008.14.14.png)

<h2>ABC Correction</h2>
- There are 2 possibilities of ABC corrections in this case.
- 1st is that we've already completed the correction (green waves). And this one is most likely to me cause we hit the fibonacci level at 61%.
- 2nd is a longer one and would indicate that we're on the B wave now and that we have one more leg down to the next support zone which is at $5,900 (red waves)
- Either way, to trade these scenarios, I would concentrate on buying on support and selling at resistance levels.

![Screen Shot 2018-07-16 at 13.12.48.png](https://cdn.steemitimages.com/DQmReaSXobYonxQnYXYBg7Gx3nX4kzAdP1aU7Lv5j8mCF12/Screen%20Shot%202018-07-16%20at%2013.12.48.png)

<h2>Where Do We Go From Here?</h2>
- Bullish divergence when RSI is gaining strength and price is moving down.
- However, we're at a resistance zone both in price and  also in RSI strength so beware. If we get rejected here, I would expect a price dump to the orange line.
- Check next picture for mid term view.

![Screen Shot 2018-07-16 at 13.33.58.png](https://cdn.steemitimages.com/DQmfYV7gn6qNx3P1g9bjHDYkGQmGYp1tjxGY2zUPwVTQ71e/Screen%20Shot%202018-07-16%20at%2013.33.58.png)

<h2>Mid Term Elliott Wave Count</h2>

- Mid term target at around $7,600
- Currently in the 3rd impulse wave. This count will  get a stronger confirmation if we see a lot of volume  here. If not, I would be cautious.
- First obstacle is $6,800. Let's see if we can break that resistance zone.

![Screen Shot 2018-07-16 at 13.42.01.png](https://cdn.steemitimages.com/DQmQKa2obnRfuE6UpQmgUXnjBvKuZUH7sFae5zVPNy2D4Xc/Screen%20Shot%202018-07-16%20at%2013.42.01.png)

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<i>Disclaimer:
I'm not a financial advisor and these are only my opinions. I don't take any responsibility for any investments that you make based on my analysis.</i>