Foreign Video about Adar cardano we continue to Be in this upward sloping channel that In my opinion has a high chance of being Broken to the downside especially Because if we zoom in really we can see That so far we're just dancing on the Support level and usually you know if You if you're dancing on a support level Quite often you see a break to the Downside I mean that's at the moment Speculation because the support is still At the moment acting as support it is Holding at the moment but um The you know the movement here to the Side that sideways consolidation Actually looks like a so-called Rectangle pattern yeah just sort of Consolidation after a strong move down Uh different ways of drawing this but um It would be a trend continuation pattern Yeah that is what we at the moment have To assume in trading we where we we can Assume some things but obviously Eventually the market needs to decide And we can really only react but if we See a drop down from here it would be a Strong indication that we're also going To yeah in the end break the channel and That this wave C Isn't finished yet yeah So Um I explained it yesterday in the video We still have the situation especially
As long as we are still in the channel But even if we break below it as long as We don't break the 30 Cent level this Could so this all could still be Um the White Wave count basically a one Two setup which would result in a way Three to the upside into the region Around 36 37 cents so a one-two setup It's not high confidence because what I Have labeled here as a possible wave one In the white wave count that could be Seen as a leading diagonal now as you Will know if you watch my channel Regularly a leading diagonal these are Not the most reliable patterns they can Easily also be counted as corrective Wave patterns that makes the current Situation so difficult Um a leading diagonal could be the Beginning of an uptrend So basically here we have the wave one And then a possible wave two in a three Wave move Um but the problem that we have here is If we drop too far it most likely isn't A wave 2 anymore a one two setup here And we're going to take a look at that Now it is the 30 Cent level if we drop Below that 30 Cent level the 78.6 Percent Fibonacci retracement it is most Likely not a one two setup and the Yellow count is strongly then in force My primary expectation is the yellow Count anyway
Or at least Um that we are going to see one more low For Ada as explained in previous videos This will remain my view until we really See a strong impulsive pattern to the Upside for example a break above the Wave one high here and the break out of The channel to the upside which would Take us above 33.2 cents yeah this is what I would Want to see to say with greater Confidence that a low for Ada has been Made at the moment I'm highly skeptical Especially as we're dancing around their Support level here Um And um if we zoom in now I mean let's Let's just stick for now to the let's Focus on the let's say bullish count for Now If we look at the bullish count and you See the wife it's the White Wave count With the sub waves ABC here in pink and If we look at the pink the pink count we Could even say wave B was here a b and Then this is the C wave so slight change From the last video and I could argue That this it was a wave one this wave Two this away three this could be a way Four and then here the wave five down so One more like down would be allowed Um but again we should ideally hold the 30 Cent level that is very relevant and Also if I take a look and say right you
Know we take the length of the wave one Basically to calculate Target for the Wave 5. And we add it to the high of the fourth Wave then we get that 30 Cent level Actually 30.4 cents that would be an Ideal Target for the wave five the one To one ratio between waves one and five So let's see one more wave down would Not necessarily tell us we have full Bear mode But it would obviously Break Um it would lead to a break out of the Channel which would make it arguably More difficult for Ada to recover And however as long as we're holding That 78.6 percent FIB retracement it Could still be a one two setup so Situation is still Difficult to read here Um as I said you know these are the Situations however where we have a Possible one two setup of course a Trader could enter a long trade here With a very tight stop loss even if the Probability that it works out is not the Greatest because we haven't got a high Probability set up here but we have a High reward low risk setup yeah not in Terms of probability that it works out But again in terms of you know what what Would you lose depending on where you Set your stop loss compared to what you Can gain yeah but very important no
Financial advice here Um I am still In the camp of people who think that we Have a good chance to see one more low So the yellow count is still the Preferred one where we're coming down Impulsively the reason is that ADA while For example ethereum and Bitcoin have Actually moved up quite a bit in recent Weeks Um Ada hasn't done much and the move Down for me also looks quite impulsive If you compare the move to the upside Here which actually looks quite Corrective a lot of overlaps with the Move down it seem to move down does look Fairly impulsive to be honest so it is One more wave down I would allow for in The one two setup but if we see more Waves down and if we break the 30 Cent Level I think this is a really good Confirmation that the yellow count is Working out Target for the yellow Wave 3 Would take us to around 26 Cents and the Way 5 would take us to around 23 cents And as long as we don't really see an Impulse to the upside I'm still of the View that ADA is going to continue to Move down In line with basically what I believe For most cryptos as well until we see a Reversal signal on most of these charts I don't see as you know a reason to be Aggressively long here or anything
A good indication that the move up is Starting would be in my opinion here Break off the wave too high at 32 cents Let's also see if we can actually add a Trend line here oh yes we can three Touch points so we've just reached that So A Break of this one would also be an Indication that things are turning Around okay 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 Thank you