The analysis focuses on ADAUSD, currently at 0.419, suggesting a potential upside reversal. The analyst notes that the market has come down to a critical "bull market support area" between 0.437 and 0.267. Volume profiles indicate support around 0.385. The analyst wants to see a five-wave move up, followed by three waves down holding a higher low, to confirm a trend reversal. A break below the channel's lower boundary suggests a larger correction is unfolding, potentially testing 0.406-0.398. Any break below 0.398 opens the door to larger corrections. A break above 0.439, the wave one high, could confirm a move into wave three, targeting 0.494.