Foreign Continues to be in this pattern that we Identified in the last video this Ascending wedge which would rather Suggest a move to the downside from here And then we've got a support area where We are going to see a decision if we are Going to follow the blue count here to The upside because if the support is Holding here around 30 cents that would Allow us to follow the blue count Further and have at least upside Potential even if it is at the current Stage only short term upside potential Um Due to everything what's happening in The market and the overall Elite wave Structure of the Ada chart I'm not in a Position at the moment to suggest that The low is in especially not with a Diagonal pattern like this one when we Have a diagonal pattern which includes a Lot of overlaps and which can very Easily be just a corrective wave pattern To the upside which would lead to an Impulse yeah whenever we have that what I want to see I want to see the low in The Wave 2 retracement to hold and we Would then move up in five waves and I Want to see those five waves complete And then I'm happy to buy into the Retracement of these of this larger wave One okay So what is interesting now is the price
Action in this well wedge pattern Um I can I have difficulties now To count this still as B wave I must be Honest and the reason is That this is a five wave move up from The low from here from 31 cents yeah it Would have been possible until here but Now it's getting difficult So it's a five wave move up it's only a Diagonal again but it is a five wave Move up Um What is now the possibility well I could consider like I do it on the Bitcoin and ethereum chart on the Ethereum chart especially that a high Was made already here in the wave one That was the high of 32 cents nearly That was on the 23rd of November That we and I have to go to the 30 Minute chart for that That we already came down in an a wave That this year was already the B wave And again this is micro counting so they Shift often these micro counts and that This was a c wave and we've already seen The wave two And then from here we are moving higher Um this would be for me Quite likely if this level is going to Break the 32 Cent level and we are Breaking out of the wedge to the upside So if we break out of the wedge to the
Upside I would consider That a wave 2 was already in until then I'm still looking at this Wave 2 down Here okay but I'll put it on the chart So you can understand the waves and sub Waves so if we say wave three is current That would mean Wave 3 is currently Unfolding if Wave 3 is currently Unfolding we need to see some strong Movements over the next sessions And we can count here the sub waves Um As 1 2 3 4 and I'm just thinking That's probably four and then here five Again not a high reliability pattern But more likely than the other one So you've got here five waves up so five Waves in wave three that means this Would be the first wave of the third Wave Something like this we might just be Putting Wave 2 in that'd be three four Five again this is micro counting don't Be surprised if this changes in the next Video Yeah best to be very clear about That And generally my primary expectation for Ada is still another low okay so this Looks so corrective to the upside that Um it all depends on the retracement now If we so in any you generally you could
Say short term we are focusing on higher As long as in any at any time we're Holding the 78.6 retrace so that's at 30 Cents at the moment if we hold that Level in any retracement we can focus on Higher if not if we don't hold it then We are probably going to break down into The region around 27 cents next but yeah That's my update about um 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 Thank you