Foreign [Music] Welcome to another update video about ADA so Ada is following the bearish wave Count yeah it's um we talked Um in the video was it earlier today or Yesterday we talked about this head and Shoulders pattern here you know a quite A clear Head and Shoulders very small One though but a smaller Head and Shoulders pattern that gave us a target Of I think it was 30 cents let's just Double check that So yeah around well no actually a bit Higher 30.3 cents roughly now we did now Come down to 30.5 let's see if we come Also a little bit lower Um we had in the previous video a Bullish count and the bearish count and We talked about the bullish count and Said that the three wave structure of This move to the upside here plus the Messiness of this move here doesn't Really inspire a lot of confidence in The bullish count so what I said is that Any upside I'm gonna treat As purely corrective yeah and um that my Primary expectation is down unless the Price really proves that this white Count is working out and obviously it it Fails to do that I mean I can't Completely dismiss here the bullish Count it is technically still possible And I'm going to show you how but the
Strength of that decline for me is a Good is a hint at least that we are in This yellow Wave 3 already but we're Going to talk about that Um let's first maybe look at the bullish Count and let's let's move the bearish Count aside the bullish count again very Clearly not primary expectation you know That and because it just didn't get off The ground The bullish count would assume Um at the moment that the bear Market Low of ADA was in here at around 29.5 Cents Um we then moved up in what you could Consider a wave one year you can count This as a five-way structure but it's Just not very high confidence And we could then say that we are in a Way to still yeah this is still possible As long as We're holding technically it's still Possible as long as we're holding above 29.5 cents because this Wave 2 is valid Until we break below that level however As it's often the case and you know that If a wave 2 comes down too low it's most Likely not going to work out and it can Come down lower yet surely but it should Really not drop below the 30 Cent level So until then we can I would still give The wave to a chance even though it's a Very small chance that is the 78.6 FIB Level yeah I mean 30 cents technically
Is actually the third the 88.7 FIB level Even uh yeah lower likelihood in my Opinion yeah That it then still works out but Technically this could be some kind of a Still ABC pattern or even wxy so we had Here in ABC then w x y pattern still Possible but getting obviously more and More challenged I mean we dropped out of The channel now to the downside here Something that ideally shouldn't have Happened in a wave too so yeah you know This is still technically possible I Gave you the key support areas from There it could obviously still move up However is that something I would trade Long no not without a signal or a clear One two pattern and then a one-two Pattern where the wave one is a leading Diagonal is not really the trade setup I Would I would go in aggressively yeah of Course you know you can trade this long Um but the likelihood that it works out Is just not very high the risk is quite Low because you can set the stop loss Quite tight as I said in previous videos But the likelihood is going to work out Especially if the wave one is a leading Diagonal it's just low so the Buddhist Counts still possible we would then at Some point you find support and should Rarely above the wave one high at 33 Cents and find a Target around 37 cents Okay how is the bearish count looking
The bearish count would assume we came Down in a wave one here off the high at 33 cents we came down to wave one we Retraced in a wave 2 and we're now Moving down in a third wave the third Wave Target should be the 1.618 flip Extension Um and that would take us down into the Region around 27 cents yeah so it could Very well be that in this third wave in Yellow we've done here wave one here Wave two and we're now on track in a way Three so micro counting and again these Are always take them with a pinch of Sword these micro counts but within the Way three we could say we've done here With one and this year was Wave 2 and We're now in the third wave there will Be a fourth and a fifth and um Within the third wave you could say We've done here a small one here with Two and we're now in the third wave the Third wave of the third explains why This move is quite strong Target for this small yellow wave three Here we're looking at Well that could actually take us to 20 28 cents Let's see if we should get there okay so This is really micro counting let's see This is how the yellow count which is The bearish count ideally would work out But you know the world isn't ideal wave Pads and sometimes don't follow ideal
Patterns but this is sort of the road Map how it should ideally work out and Then we have a chance to finish the bear Market down there around 23 cents we Will see but um this definitely again Doesn't add any confidence in the Bullish count bullish count has been the Alternative only anyway not the primary Count but still you know it's just Another confirmation that ADA is has Probably not seen the bear Market low Yet yeah okay and 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 [Music] Thank you