Foreign [Music] Video about ADA Carano we continue to See the movement here Um in from two different sides yeah this Could be very well Um leading towards a bullish Interpretation but also the bearish one Is very very much possible as well we Can still let's start with the bullish One this time it is not the primary Expectation I have to tell you that as Well but from a bullish point of view I Would actually like to move this wave One over here but we can see this as a Leading diagonal this movement here in a Wave one you know so this here is a Possible wave one it would only work as A leading diagonal Um just to show you the sub waves this Would be a wave one then we came down Basically here one second Here one two and then the wave three to The upside Here then a wave four to the downside And the wave five up leading diagonal in A wave one and then of course ABC down In this wave two let me zoom in actually A little bit And then here in this move to the upside Another one two setup here one two and Yeah what what is this now right this Would need to be another one to set up So it's all a bit of a mess here
Therefore I'm not really leaning towards This bullish scenario I mean we can Focus on this one two one two As long as we're holding this wave too Low which is at 31 cents yeah as long as This is holding We could focus on a one two one two Setup which is going to move up in a Wave 3 next Target for that would be Around 34 cents talked about that before Um but what is ultimately needed is a Break above the last swing high at 32.6 Cents and the break above that wave e High of 33.2 cents then this would be a Valid breakout to the upside and we Could look at continuation of this White Wave count however I'm not convinced with the price action That happened off the low Year from the 21st of November that this is anything Bullish It could be therefore I've got the white Count outlined on the chart that you Know if the price breaks the white line Here the breakout point then this could Be working out this is what Ada needs to Follow in a breakout scenario however as I said the movement to the upset is not Convincing it's very weak we haven't Broken any Substantial and very relevant levels yet Therefore my focus is actually on the Downside that's still the primary Expectation that we started off the high
Here Um 19th of November 33.2 cents we moved Down quite impulsively in a wave one This is when the triangle broke to the Downside we then moved or are still Moving here in a wave 2 to the upside We've now reached the 88.7 flip level so It's an ideal time to turn around to the Downside in the third wave That Target for that is around 26 Cents Then there should be a way four Up and Away 5 down to finish off the overall Bear Market at least here we have a Chance to finish off the bear market After this five wave move again a few Things to mention I did mention that Before I will repeat myself because There's not so much new stuff going on Here on the Ada chart every low from now On could be the last one we need to take It level by level we have reached all Downside targets we don't need to go any Lower Does it mean it couldn't go any lower no Of course not of course these waves can Always extend lower but Ada reached Perfectly my bear Market Target of 29 30 Cents which is the 88.7 FIP level we Already were waiting for this um level Or price range back in May unfortunately Back in may we only reached what was it 38 cents I had a few frustrated comments From some people back then because we Were still waiting for the 30 Cent level
Didn't happen well eventually did took a Bit longer yeah as markets sometimes do But yeah as you can also see here on the Higher level Um wave count it would be nice to see One more low wave one wave two wave Three wave four wave five and it would Be quite a short wave five if we ended Already where We've Ended now at around 29 cents ideally if you look at the Length of the wave one ideally you push A little bit lower Um something to the 20 cent region Um Decides that obviously Ada similar to Many other coins has done what it needs To do in this correction it doesn't need To go any lower Um sometimes I find it interesting to Look at you know indicators like here The weekly chart very relevant ones long Term Eight are generally on the weekly chart Surprisingly on the macd still in the Green actually bullish momentum is Increasing again slightly Um the four day chart might be pushing Here into a bullish crossover but can't Trust these too much in a sideways range Because eventually their momentum Indicators and if a market is just Moving sideways they are not very useful But long term they might be very useful And this is very interesting because
Um when this monthly macd turned bearish This indicated very much oops one second This indicated very very uh much the top Of the Bull Run yeah this is when it turned Bearish and since then it has just been Dropping and then in September this year It has started to reduce negative Momentum that is a potentially Interesting signal it's the monthly Indicator it would take a while to play Out does it mean the low needs to be in No but it means the downside momentum is Reducing and it could be an indicator That we are very very close to the low I Mean to be fair we can't drop too much Lower compared to where we come from of Course you can still drop 50 but if you Compare that where we come from from Around 3.10 this is not going to be much If we drop another 15 cents for example From here so yeah Certainly interesting with Ada and Generally the the crypto Market in General but here no sign we have Bottomed yet it could be but the signs Are still too weak I'll keep you updated All right that'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
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