Foreign We're following the count we are heading Further lower as you remember from Previous videos probably we talked about Lower price for Ada there was not really Any Um short-term corrective upsides we are Heading further down immediately and Um that's Makes me think if we are still In this pattern or different one at the Moment I'm going with this one Um and we're going to take a look at the Sub waves but most importantly for Ada The overall scenario is playing out Further and we have reached finally The 30 Cent level yeah the 88.7 percent flip level I've been Waiting for this actually since May Um and we're finally there but I don't Think we've ended actually the the Overall correction it doesn't look like It and it seems like we're rolling Further so we're going to take a look at What that could mean in the um yeah Basically in the short term here where We're heading Um let me take that out because we Didn't really get a c wave up CF Ada the overall view was still Looking for new lows which we're doing At the moment Um You know what I think I'm going to I
Think I'm going to change the wave count Here a little bit It just fits better With the overall proportions to the Downside remember we said here Originally this is a triangle I mean This is still possible as an Elliott Wave triangle Um But what I'm going to do I think I'm not Going to make a big change I think what I'm going to do and it just fits where It fits way better Um from there to the side I'm going to Put that wave e here And this is possible because an e-wave Is just a corrective wave pattern Consisting of three waves and we've got One here and that makes sense and Usually what you get and that's what I Thought about that in the last few days Already do I put the wave eBay or not The reason why I do it now is just if It's the proportions better that's one Thing but also what you often get sort Of as education what you often get when A triangle breaks you get a very strong Move yeah into the other direction and This is when it broke it really came Down strongly and therefore I'm looking At this now and say right it was Probably the wave e here and we're now Heading down in um in wave five And if we look at wave 5 I'm going to Label this now as follows one
Two One And this was Wave 2 up here We came down And it's a bit tricky here I have to go To the 30 minute chart for that I would say one two three four five So I would say that away four three wave Three was in here The way four probably here And then with that dip to around 30 Cents this was away five And this would finish off this wave five But it would only be An overall third wave so there will now Be or should now be soon away for Retracement and then heading down Further I'm gonna I'm gonna adjust that Later but it means we have certainly got Five waves complete to the downside There could be a bit of a recovery now Uh drop below 30 cents would imminently Continue the downtrend Um but if we now look at a wave 4 Recovery Oops There could be a substantial one but I Don't really believe that the way this Is labeled that would mean we could move Up all the way up to around 36 Cents 37 cents no I don't I don't see That at the moment not with What eth is doing Even even though it's possible
Um What I'm rather thinking Is that this was only And I need to rethink this right because It could be that Um We are really already in the fifth wave Down I have to make some adjustments to The count what I think most imminently Is likely and I'm gonna change it a bit I don't want to confuse you but I think Most imminently it's likely that this Was only a wave one Or this five wave move was a wave one Off a fifth wave So at this regard the wave three and Four here Which means we've got five waves Complete we can expect the retracement To the upside now at some point Um shortly maybe already now And that could get into the region Ideally here so not higher than that Yeah between 31.7 and 32.5 cents it's Not high probability at the moment Um especially as if also dropped below 11 30 and doesn't seem to be recovering So it could very well be this is Becoming an extended wave five down but We need to be aware that five waves down Are complete now here Impossibly a wave one and we're now Going to see a wave 2 to the upside and Then away three down away four Up and
Away five down Um and I need to play around with the Higher level waves here a little bit Possible in this video I'm gonna do that For later for the later update But be be aware that we've got five down Complete looking here at the indicators As well You can see that we've been overbought We are over no oversold on the rsis you Do expect some kind of recovery now Um questions how strong does it get and Depending on how strong the retracement Gets I am going to adjust the wave count To the higher level scenario Um that fits better At the moment I'm just looking at this And say five wave down five waves down Complete and we could get a recovery Into this direction and area and if it Goes above that I might have to adjust The higher level Um count but five down complete my view Is clearly The downtrend isn't over yet until I see A very very strong move up first of all About 32 and a half cents because that Is above the 78.6 FIB level we see a Strong move above that it's probably Something more bullish but at the moment I can't really see that yet and it seems Like the market is rolling over for now Bitcoin ethereum uh possibly looking for New lows as well
I'm going to update that in the if and BTC videos okay that's my update about Um Ada hope you like the update if you Did please hit the like button leave a Comment and subscribe and if you really Like the content then please check out The channel membership thanks a lot for Watching bye