Foreign Welcome to another update video about ADA so Ada has obviously gone below Support Um Ada yeah it looks like we might Actually get the 30 Cent level that we That we originally wanted here yeah Um because you might remember that back Here in the at the end of October when We turned around We were still anticipating another dip To 30 cents Um it is happening eventually I know There were a lot of people who were Actually disappointed because we didn't Get the 30 cents there were a few people Who've been waiting or who waited for That 30 Cent level to buy and well I Think with 31 cents we are just about There Um originally already mentioned here the 30 Cent level back in May and you can See how long that's dragging on because Also here we didn't get the 30 cents why Are the 30 cents so important because It's the 88.7 Fibonacci retracement Level that is typically you know because We dropped below the previous FIP Support which I think was around 50 or 60 cents you would normally get the next One which is at 30 cents and we're Finally there the latest dip is well to A degree is it it is good because we Finally get the chance to reach that 30
Cent level but what we don't know yet is How the price is going to react to it The way this is looking to me at the Moment is we're going to go through it Even if it's only briefly Um and that has to do with the subway Structure here because obviously I had To remove the possible one two setup we Had here on the chart which Um Because the price has gone below the Previous 33 Cent level from the end of October so the only way I can really Count this now Um at the moment is that we are looking At this in terms of uh Yeah a one down after that triangle that We made here sideways yeah that this was Not the five wave move well it was a Five wave move but this was not the move That ended the bear Market Because Um it it appears to be that this was Only the first wave this year was the Second wave we're now in the third there Will be a fourth and a fifth down so it Is quite a strong Move down quite a strong decline right So if we So yeah if we now measure a target for a Third wave Then this is again getting So I have to count this as a wave one This is the wave two setback and then
Here we have another one two set up but This would be the overall wave three Here Based on the wave count now and the Targets would come down quite a bit now It is sort of looking very unrealistic I Know that but also the the 20 level or 15 level that we talked about on the uh With Solana no ten dollars it was four Way three on Solana Um that seemed impossible and now we're Getting there so I'm just giving you the Targets at this stage so the okay so the First Target which is normally less than You would expect is the one to one ratio It's a possible Target for wave three Though that would be the 30.7 Cent lever That is actually at the 88.7 FIB level Should really really come down to the Ideal Target for a third wave then we'd Be talking about 23 or 22 cents then There should be a wave four up and the Wave 5 down anywhere Below Wave three Um bear in mind a few videos ago we Talked actually about this whole Triangle here and we took the length or The height of the triangle and we added It to the breakout point and that took Us actually Um Down to around 15 cents so honestly this Is not an unrealistic Target there is Quite a bit of support at around the Generally the 20 cent lever range but
Overall very very important support is The 30 Cent level but I I would be Surprised if the 30 Cent level would now Mark the end of the bear Market Um I think we will come down lower That's due to the price structure here Of the sub waves with the wave one down A wave 2 up a wave three down four up Into five down because also here this in This wave three it looks like we've only Done one two three there should be four And five down to finish off this third Wave and then the four up and the five Down so I think there's still more to Come as it seems Um we've got a crazy situation now where For example some altcoins were really Really suffering I mean Ada to be honest Did hold quite well for whatever reason Yeah Um the turtle so it did hold quite well It maybe it realized only today that Something was going on Um but yeah it it did hold really well The problem is that Bitcoin is sold off So much I don't know what Ada is doing How how does Ada want to go to let's say 15 cents uh or 20 cents while bit I mean What is bitcoin how much more can Bitcoin really go is it 15.7 K I mean Surely Bitcoin could theoretically go Down to 10K even 3K we mentioned that in Previous videos Um and it's getting more realistic now
But It it's just crazy I mean I've always Said I can see a 10K Bitcoin but only in An extreme case you could argue this Currently is an extreme case and and That those circumstances such price tag Is like 15 to 20 cents for Ada would be Realistic but we have to take it level By level and I think 30 cents what you Need to know is the next key support Level Um it doesn't look like this third wave Is over at least we don't have a bottom Signal yet what we want to see Especially in the current environment is A five wave move up and the three wave Move down on a lower time frame to Confirm at least some sort of a bottom Um but it doesn't really look like this Is going to be finished yet Um if we make a new low now well we are We're actually doing a new low but I Would like to have a significant one Something that's substantial something That um Is low enough to bring make people Interested again right and then Ada has Another chance to create another good Foundation for future growth let's see a Lot of uncertainty in the market Tomorrow CPI data okay I hope you like The update about ADA if you did please Hit the like button leave a comment and Subscribe and if you really like the
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