Foreign Welcome to another update video about ADA we see at the moment some kind of Recovery Ada is actually one of the Coins that recovers really well Um but yeah we talked about the upcoming Wave 4 correction which however Um I think it started a bit earlier than Anticipated so let's actually see how High we go because there are key levels That are now of relevance so um Explained yesterday to you because we Broke the previous low we came down to Nearly the 30 Cent level Um I hope everybody who wanted to buy at 30 finally got got their hands on some Ada Because there's never a guarantee we Come down that that below again but Um my view at the moment is to move down Isn't finished yet because we haven't Got a proper reversal signal but as soon As we have that reversal signal we need To be ready right that things could be Changing and that we could be moving up Because if for example has five waves Down complete now so it it is a it is a Time to reverse if if it wants to Reverse right Um So it's a crazy day it's gonna be Another crazy day so let's take a look At what this could still be at the
Moment I'm still counting this as the Move down but I'm going to tell you from Which level this is going to get less Likely so I'm going to draw you now the Flip levels and say the Wave 3 to the Downside was finished If we go now in a recovery above 37.4 Cents then this is a really really Strong signal That we are not here in a way for Anymore that in fact this whole pattern Was something different Um maybe an ABC to the downside yeah or Um Or that we have actually completed here Um the five wave move down already even Though it would have been very short so I would I would have to do change the Subdivisions a little bit it's not ideal And I think the waves have been Distorted by the developments yesterday And so on but Um You know we were massively oversold like On other charts as well so you get those Re you know those recoveries the Questions just will they be impulsive And will the next retracement you know The setback The Profit taking Will that actually hold a higher low Level and I think that is so critical in All crypto charts now to understand what Are the key thresholds to Rally through To make
Um another tip let's say less likely Because bear in mind there are no Certainties there's only probabilities And Do we get back into let's say a rally Because at the moment you could call This already what's happening at the Moment the recovery But is it going to be sustainable that's What what's going to to be important Today is another unpredictable day it's It's CPI data released so anything That's going to happen around the the Time of the CPI data coming out will be Just sort of massive volatility I think Um so let's see let's see how it turns Out and maybe there's some bullish news Coming from FTX at some point I don't Really think so but we'll see Um at the moment We can count this as a way for Correction if it goes above 37.4 cents In this move then this is less likely to Be still away four it's probably Something different maybe something more Bullish then and in any retracement now If we come down the sell-off The Profit Taking here Let's just do that as well so may we get To that but we've got 37.4 cents I would Even wait for breaking the 38 Cent level Because this is the swing low here there Are two swing lows in this area if they Get broken that is certainly a strong
Sign that something more bullish is Going on here in terms of recovery Um if we're looking now at the next Retracement down and for that I'm going To go to the one hour chart as well Um it needs to hold but there's Currently no sign over top in place yet So let's say we have topped here just Want to give you an example let's say we Have topped here Um and come down again we need to hold The 32 Cent level to make a recovery More likely because this is the again The 78.6 flip level and if we say we're Now coming up in something more bullish And we do not see new lows and this is Already a substantial recovery because This is quite a strong movement at the Moment I don't count it as a recovery Well it is a recovery I don't count it As a let's say um More substantial recovery yet I still See it as a wave 4 but let's say we push Higher we break those key levels the 38 Cent level Um overall then we have to consider Something more bullish but let's say Let's say we've top now the 78.6 retrace Needs to hold at 32 cents if we go below That then it is Um a continuation most likely of this Fifth wave to the downside that's sort Of what we have at the moment Um zooming in a little bit this still
Looks very let's say corrective to me Um on the five minute time frame You have a lot of overlaps so it could Be counted as a diagonal pattern they Are never very reliable Um but you get all sort of messy stuff On the five minute charts this to me Looks like an ascending wedge that could Very easily break down but even in a in A in a let's say a diagonal pattern to The upset you would expect a breakdown Because this could be a one-two setup so Door comes down to the next retracement If that is going to hold a higher low And I'll keep you updated yeah so yeah Hopefully you like the update if you did Please hit the like button leave a Comment and subscribe and if you really Like the content and please check out The channel membership thanks a lot for Watching bye Thank you