Foreign Video about ADA today is a rather quiet Day in the crypto world it's typical Saturday fashion right so it's a bit bit Quiet we take a look at what the Probabilities are for Ada that it has Already bottomed here on the 9th of November at around 31 cents and if we've Bottom to where we could be heading to Or do we come down and make a new lower Low so we talk about the options here Talk about the possibilities and the Opportunities Um just a quick reminder that we now Since two days we operating our own Stake pool Ada State Pool we are nearly Nearly at the 100K Mark already of Delegated Ada which is amazing So for Anybody who dedicated already it's Amazing already 23 delegators here Thanks so much for your support and it's Growing fast nearly 100 000 after two Days is not too bad you need to get to a Million I think um that is sort of the Level where you get Um more consistent rewards in Um but yeah as I said in previous videos In the first days or first couple of Weeks there probably won't be many Rewards or any rewards because the pool Is just too small but the more the pool Grows the more the the likelihood that Rewards are being generated and if Rewards are generated even less
Frequently they are spread among less People less dedicators and therefore you Should still get your let's say standard APR for an adapoo so yeah if you're Interested in supporting the community Channel Um it's a community pool and if you are Interested in getting Ada for your Ada By staking or delegating then take a Look at the links in the video Description I've linked the stake pool And I've linked two videos that tell you How you can actually delegate your Ada Okay looking here at uh cardano where Are we so as I said in previous video The the overall wave count hasn't really Changed primary expectation at the Moment is still that we are going to Make lower Losi for Ada the overall Chart pattern just suggests that there Are two main scenarios I'm looking The first one is the one that I actually Have on the screen that we completed a Wave so since the breakout of this large Elliott wave triangle that we've been Talking about um throughout the months Of August and September yeah this larger Triangle when this broke out finally and Made new lows and we've been waiting for Those Um then we came down to 33 cents the Original Target was 30. so we never got There but a few days ago we got to 31 so We got closer and closer but at the
Moment the chart doesn't do a lot of Bullish things yet it is recovering yes Um but in the last couple of days it's Come down as well so it's sort of not Really clear yet but at the moment due To the elect in bullish price action Here my view is still that we will see Lower lows and also the elite wave count Would suggest that so should we Um Continue further down then my Expectation would be that we've already Done the wave one we've done the wave Two we're now in the third wave There will be a wave four and away five And within this third wave I think we've Done just a one and we are in a wave two And there will be a three four and five Of three yeah so this is the pattern That I actually have on the chart and That I think is going to work out However there's also another possibility And then up here yeah it would mean we Didn't get a triangle but we got another Um just an ABC and this is a one two Setup or one two setup so that we would Count early and we would start actually With the impulsive price action here and Would say this was a wave one this was Wave two all of this was wave three this Year was The Wave four and we've done The way five a few days ago Even here we could get one more low but It wouldn't be that bearish right
Um In in that scenario we've already Completed five waves down and we could Look at the possible bullet reversal yet Already but even here a lower low is Possible but not that low right not that Low a few days ago we also talked about A few weeks ago we talked about a Possible price Target just purely based On the height of that larger ended wave Triangle here from the breakout point it Would send us down to around 15 cents Which seemed very unrealistic Um at that time but at the moment it's At least not too unlikely right with Everything that's going on currently The kind of good news that we have in The crypto Market in all the mess within All the fundamental mess that's going on Is that despite bearish news of the FTX Bankruptcy and block fi stopping Withdrawals and all sorts of stuff and The FTX Hack That was going around today Um At least we don't really have A lot of new sellers come in so I think Selling seems to be exhausted for now Yes it's sliding down slowly but it Makes more impression of a corrective Move down so primary expectation is as I Already indicated in previous videos That there should be one more leg up Because even if we are in the bearish Scenario
Um the fact that we are currently moving Down rather in a corrective fashion and Not like an Impulse because there are Many overlaps here it rather suggests There will be one more move up Short-term upside before we come down Further Um and that could be in a wave y so we Have three waves up at the moment which Makes me not favor a bullish outcome of This because three waves up would in the Traditional Elliott wave interpretation Mean that we don't have we failure to Create an Impulse it's only three waves Up and if you have three waves up and Also a corrective wave down then it Would suggest that we probably have a y Wave to the upside coming right it could Also be an ABC but most likely a w x y And a target for that I can give you That as well we just take the one-to-one Ratio so we take the length of the wave W added to the current low and that Would take us to around 40 and a half Cents okay so keep an eye on that level Um I think that would get very likely Should we break out of that corrective Price channel that we have on the screen Here to the upside okay Um I don't think that we will still see Upside should we slide down further and Break one key level and I'm talking About the 78.6 Fibonacci retracement Level so that level is actually at 32
Point Three cents should we get below that Level I don't think we are going to see A strong upside still because if you get Below that level it is less likely that It's still an X wave this is just a key Turning point always the 78.6 flip level Below that we just come down to low and It increases the likelihood of breaking The 31 Cent level and then we are Already in an immediate sell-off okay Um So yeah this is sort of as long as we End the channel we obviously continue to Slide down but Um as soon as we break out to the upside It would be looking at the 40.4 Cent Level first Target would be 37.8 the Wave W high and then possibly further Into the region around 40.4 cents and Then coming down afterwards all of this Would then just be a larger three wave Pattern Um in the let's say the bullish scenario That I showed you where we already could Have a low in I mean it's possible Um but then I would like to see more Price action because yes ABC can be a Wave one as well but only in let's say Rare circumstances it would have to be Part of a larger leading diagonal where We have the wave one as ABC The Wave 2 Would be a corrective fashion or move
The Wave 3 would be ABC The Wave 4 would Be corrective again and the way 5 would Also be an ABC so you would have to see Five waves first to get more confidence In this because if I get a leading or Only three waves up what I really need For evidence that we are going higher is To see the first five waves complete and What I would then buy I would then buy The retracement so for example I Wouldn't necessarily buy here into a Support zone of a correction if I only Had three waves up because it just it Just doesn't really give me the Confidence yeah but on the other hand if I see five waves up in the larger Pattern then I would probably buy the Correction in Wave 2 because this would Again be a wave one just a larger one And then the wave two would still be Coming afterwards so this is sort of Where we are Um and how high there is also one level If we break above that certain level it Will also make a w x y less likely and That level would be the 30 the 78.6 Retrace the 41.1 Cent level getting Above that level Um would indicate that we're actually Pushing higher and it is most likely Going to become an Impulse here to the Upside yeah so um that is ultimately What is important they are the key Levels that you need to watch out for we
Are currently in a corrective price Channel and the breakout of the channel Would indicate the direction for the Next few days 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 please check out The channel membership thanks a lot for Watching bye Thank you