Foreign It is shocking how things are sometimes Really coming together here Um I mean I nearly didn't believe anymore That we would go and see this four Cent Region but it was still the primary Expectation as you can see here still Written on the chart for Cent region is Target and we reached 4.4 cents Today actually today Um I now think that we are Bottoming here basically you know so we Had a one two you know from from the um One second From that high here which was basically Away four high yeah we came down in in a One two setup had here another one two Setup I think we're looking here at this wave Three to the downside now Then there should be a wave four to the Episode coming maybe next few days away Five down This would finish off the third wave There'll be a fourth wave up And then a fifth wave down we might even Get below four cents yeah so this move Down doesn't appear to be finished yet Um it is a bit It is a bit messy this structure but I Think in this third wave down here we've Really only seen another one two setup Three four and this is not the fifth one
Down I think it should bottom in this Third wave soon And then we're looking at the way Forward retracement I mean honestly if Anybody wants to trade this I can only I can only really I don't want to say recommend but it's Up to you really but I honestly this is Such a difficult Market at the moment Because it is so messed up by the Fundamental issues in the Catalyst with FTX other maida and all the issues Um It is just extreme risk I think overall In the next few days maybe already Tomorrow we have some serious upset Potential but generally more like a Maybe a bit of a relief really because What you need now is just a little bit Of positive news and I think this thing Would just Start to I don't want to say to Moon Because that's not correct but we will Probably see some kind of a relief Rally Or something Um but generally the wave count doesn't Suggest this is finished yet And I think we are going to see still Lower level so I mean my Target price Has nearly reached 4 cents so from a TA Point of view I would nearly count that As a success but obviously at the moment It's an extremely shocking situation out There it's extremely sad I know a lot of
People lost money or well at least They've the funds are locked and people Don't really access them at the moment Which which is just This is not what crypto needs guys Honestly I'm not really happy with that Even though the t80 in this case worked Out Um and yes of course the Catalyst has Been FTX But first thing is we don't really know If it hadn't happened anyway because This was already the Target and the Other thing is if you already have a Bearish setup which was basically Written in the chart and then you get a Catalyst and it's you know usually Following so we see that here Target for the third wave yeah let's I Mean let's let's look at that At the moment there are also some Distortions in the waves because they Are really really Well stronger would need to say I mean The technical Target would actually be The 1.618 extension at 3.7 cents I mean That wouldn't even be unusual 3.7 cents For that third wave now Um because we have already come in one Two three yeah we've already come to 4.4 Cents so coming down to 3.7 to finish Off the third wave in the 1.618 Extension wouldn't be unusual then you Would be looking at a way for
Retracement I can give you a rough Target for that But we haven't bottomed out yet so it's Really a bit hard to do but let's say we Come down to 3.7 or maybe even 3.8 then We'd be looking at the recovery into the Region of three or four point five to Five point three cents before we come Down in the Blue Wave 3 and in the end We might be looking at something around Two to three cents to be honest so uh Yeah let's just be watching this you Need to understand we are now massively Oversold so before we really come down You'll see this way for recovery and This Blue Wave 4 recovery as well Um at some point So um yeah there was a bit of a possible Breakout here to the upside but the Market didn't hold it it failed again And I think we continue to look at this Trend line and say right the overall Downside potential is there and the Downside or the downside pressure is There until we really break here to the Upside so I'll keep you updated about H-bar as well Um 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