Foreign So for Ada it continues to be my view That we are going to see another low That has to remain primary expectation Until we see five waves to the upside And the three wave move down we make a Higher low and then we can explore other Options Um the overall wave count here for Ada Still is that from the high here back in June we started a five wave decline in An ending diagonal a wave one down wave Two up with three down wave four up and I believe we are currently in a fifth Wave to the downside now that may be Complete yeah we reached the 30 Cent Level that was one of my targets back in May already never reached it until a few Days ago or weeks ago Um but we finally reached it and it Could be complete this decline it could Be but We haven't really seen any signal yet That would confirm that in the previous Videos we started to look out for and Observe possible reversal patterns here One of them sketched out on this chart Where we set here in glue we had a from The from the low at around 30 cents and We had here a five wave move up And a three wave move down now that was Already invalidated because we dropped Below it so what I will have to do I Will have to label it like that A B C
That's an option I told you about in the Previous video the problem is That this wave C is most likely not Finished yet so I'll tell you why in a Second which means we drop a bit lower Most likely if that happens there is a Significant risk that we're invalidating The possible bullish scenario here Which doesn't have a lot of reliability Anyway because the move up is only at Best a leading diagonal and these are Very very unreliable okay so five waves Up yes three waves down that's fine but If we drop below the 78.6 FIB level Which is 30 cents these patterns just Get unreliable yeah these wave twos and To be fair Um I think we haven't seen all five Waves yet in the wave C so this can Actually be counted like OS follows one Second I think the wave B needs to be Here yeah and then We have our wave one two here one two This was a three this looks like a four And then there should be one wave five Down but well of course it could form a Double bottom 29 and a half cents but my Experience is double bottoms often lead To a break of the support which would Invalidate this sort of bullish pattern It's not a very bullish pattern anyway If you look at how we're moving up which Looks rather corrective and the move Down looks very impulsive
I think this pattern in contrast to what Ethereum is doing yeah which looks Decent yeah it has a decent probability To work out bullish this year I would Yeah I have my doubts okay so primary Expectation remains well let me first Let me first say uh what we would need To see to understand that this wave C is Done well ideally we want to see A move above the wave one low which was Here at 31.1 cents so if you break above That level it would indicate that the Move down is finished okay Um and then an even better indication Would be a break above the wave too high At 32 cents then If we then reach the 33.2 Cent level That is then another further Confirmation right because then we break Above This wave B High all of these are Levels of confirmation that Um add probability to possible bullish Case but not not high confidence in this Okay So The other possibility that is sort of The primary expectation here that we are Still in this fifth wave because we Haven't yet seen a significant reversal Pattern So How to sketch that out that we see Another low It's fairly straightforward
You just have to move it all down a bit So obviously we've said that the move Down here in the fifth wave is a three Wave structure A b c And as long as we stay below 33.2 cents We can look at it that way And The way we could understand it is that The move down from the 33 Cent level Was a wave one in C This year was a wave two In C we're now coming down in a Wave 3 In C there will be a wave four And away five So I'm actually going to Um I'm actually going to I'm going to take These subwaves out make it a bit clearer Then I'm make the bullish count blue Okay So that we just can't differentiate Between them Um and I make the sort of bearish count Yellow right so That would be here a wave one Here a wave to your wave three four five That's the yellow count That like that Makes sense okay and then we can also Calculate a target for the third Wave Always bear in mind that in an ending Diagonal those Fibonacci targets don't Always work okay because the sellers are
Getting exhausted Can still use them as a guide But Target for the Wave 3 as per normal FIB Extensions would be the 1.618 extension 26.2 cents then it should be a way four Up and the wave 5 down that could reach 22 cents that's sort of how I see it at The moment that would be the bearish Cons and the primary expectation Okay and that's my update about 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 Thank you