Foreign Welcome to another update video about Adar so Ada I have just changed here From this downtrend that started Basically at 33 cents I've changed the Internal wave count a little bit I've Got a small one two set up here then the Wave 3 was the most recent low at 20 Well basically 30 cents or at 29 and a Half which is by the way the level we've Been waiting for since May which is Great that we finally arrived there Because it increases the likelihood that At some point this bear Market is Finally over because it would have left Some kind of an after taste do you say That actually Um or some kind of a bad taste right if Um the market turns around before it Reached that next flip level which is The 88.7 fit level that is at around 29 To 30 cents so I'm happy with that but I'm still expecting one more leg down in The previous video I had here a one two One two setup doesn't really make much Sense to be honest I looked at the Internals again I think this is much More accurate to be fair not conscious Happened since the last video but Um this is sort of my expectation that We are here obviously still in this Downtrend as I said in the last video Um this year was in my opinion a Triangle an Elliott wave triangle we
Broke down Um that was the expectation to go lower For Ada which we've done now the Question is now what is the downside Target you know what is a likely Target For the next move down and for me the Most likely or the most one of the best Ways I mean there's a couple of ways how We can do that now right if one is we Just take the height of this particular Triangle here and where the breakout Actually occurred this more of a rough Target and it would take us down into The region around 25 cents yeah That's one target the other targets and They are all the viable ways of Measuring right the other way of doing It is if we want to measure the length Of the fifth wave we take the distance Traveled between Um Wave one and three So yeah and then we look at the 61.8 Um extension multiple which is the 23.6 Cent level so I would say this is the First Target 28.7 28.6 28.7 cents is the First Target where we could come down in The wave 5 would make sense looking at The proportions you know you don't if You have one two here the three the Longest wave then the four uh which Which I mean we don't have evidence for The way four is done yeah this could Still go a little bit higher because if
You look at the Wave 4 this came to the 38.2 percent flip level 31 cents that is Normally the ideal retracement 4084 and Since then we've bounced off so we can Assume wave five has started but Evidence will really only get the Evidence if we break below the wave Three low That is at 29.6 cents and then we could Reach that level of 28.7 in the first Instance and then we just need to look At how does the price react to that Support level because technically this Could be the end of the bear Market do I Believe it no but we could certainly see Some more upside since then even if it Is only a corrective wave up because This could only be the first wave these Five waves could only be the first wave Of a larger decline yeah um that is what We don't really know yet because Ada has Certainly hit now a key level bear in Mind this 30 Cent level is something We've been talking about for for months Yeah even in in May I know a lot of People were disappointed because in May We've been we talked about the 30 Cent Level that that would be an ideal Target For Ada we only reached the just I think 38 Cent level or 40 Cent level depending On which exchange I'm looking at Um and then here most recently we Reached only 33 that was in October but Now finally we've arrived at 30 Cent
Level and do I necessarily believe the The downtrend is over well I don't tend To believe I don't like to believe you Know what we want to see we want to make Let the market make a decision a move And if we then get a clear signal of the Market then we can look at the trend Then we can look at the wave count we Can possibly revise the wave count we Can check if it makes sense to go from a Downtrend into an uptrend Um but what I can promise you and tell You is that ADA is certainly at a key Decision Point here at a key Pivot Point Especially after the next low so I'm Currently still focusing on another low And then I will keep you updated anyway On a daily basis then we can recalibrate From there when we made that new low Should we earlier than expected Um go above the 30th 33 Cent level already yeah which would Be the beginning of this downtrend here Of this particular five wave move should We make it above that level already then I think we need to look at a possible Different possibly different wave Pattern and may have to assume that the Low is already in here I don't see that Yet I think there will still be another Low but of course sometimes the market Does unlikely moves as well and to be Fair we are in micro counting mode here Already and these micro counts are
Fragile and we've reached the larger Target the 30 Cent level already so Always be aware that things can also Take another turn but the 33 Cent level Would then be a threshold we could Explore something different okay There's my update about ADA I 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