Foreign Welcome to another update video about ADA karano so Ada continues to slow down Further or slide down further Um even though it broke out of this Channel to the upside Um but that was not really apparently Helpful for Ada so yeah this is getting A bit of a mess now Um there's a different kind of Channel We can draw or even descending wedge Which would rather Point towards a Breakout to the upside that would be in Line here with the elite wave count of Another wave y to the upset coming so I'm considering this a w x y pattern at The moment purely because the move down Makes a corrective impression it is Correct if I'm going to label with you The lower level of the wife count in This um in this video Um but we're getting very very close to A level where Ada really needs to keep Um to to find support well this is Actually it was reached it's a level I Mentioned in previous videos it is the Let me just make that accurate it's the 32 and a half cent level So 32.4 to be exact and we've basically Touched that today so it should really Reverse from here If it doesn't I think this was going to Turn into an impulsive move to the Downside so we shouldn't substantially
Break below 32.4 cents and to still Expect a reversal up in a wave y bear in Mind my primary expectation for Ada is Still a new lows because the move of the Low on the 9th of November was just a Three wave move to the upside so it's it Was not impulsive It was not impulsive so my primary Scenario is going further down Um And however before we do that I would Expect primarily another leg up and the Reason for that is following is two Reasons for it the first reason is that I'm expecting this because the move of The low is only in three waves so I Consider that an ABC this move down is Corrective as well I consider that w x y Overall here yeah and this just an X Wave and we would move up once more in a Y just because if we have two corrective Waves basically after each other this is The pattern to go for and Um Based on the higher level pattern here Where I'm looking at this as a wave one This is a wave 2 down here as a wave Three four five this would have to be a One two setup in White Wave three but it hasn't really Retraced enough for a wave too well let Me just show you that Um Wave 2 you would normally expect to Get sort of in the region the maybe the
61.8 I mean it reached the 50 FIP lever That's actually fine but the problem is Then the move down afterwards doesn't Really suggest that it's a wave three if It is a Wave 3 to the downside it should Be fairly impulsive so there should Still be another leg up coming and you Would look at an ideal level then of the 61.8 percent FIB level maybe the 78.6 It's only really that above 41.1 that we Can expect something more bullish Looking at the lower level wave count Here for the wave X Just I know that a lot of you are always Interested in sort of understanding the Let's say the the labeling itself and Within this x-wave I consider actually Um wxy within this x-wave so we look at This as a W wave then we had here a Triangle in a wave X and we come down in A y wave I will make that now Um different color So we make that white and then this w x Y we Upgrade the degree So wxy in wave X and then we've got the Um y wave itself as an ABC actually A wave Then here again a triangle and B And then the C wave down which could Have firm Well it could could could could could Could have finished here but it didn't So
Well that's a mess isn't it so yeah this Can't really be a c wave so no it's Probably not an ABC it might be within The Y wave another wxy but let's not get Hung up on that because this is really Getting pointless then Um it doesn't so much matter to get the Smallest wave degree count correct And because it could be various things It could even be maybe a wxy except Pattern which is extremely rare but the Point is that we are in a descending Wedge here we have nearly well we have Basically a full pattern because you can Um because you know really Even if it's an ABC in here it should Then drop even further but then you get Into a level where it reasonably can't Be a wave X anymore so I already Mentioned to you the key support level From where it should ideally turn around So and then if it doesn't then this is Going to turn into an Impulse down and We're going to break the 30.9 level so Primer expectation is still down however After some short-term upside and if we Drop below that 78.6 FIB level of 32.4 Cents then we're probably going to come Down straight away in the third wave now This is one scenario there's the other Scenario where actually we can count This entire move down as an ending Diagonal and the low is already in so we Would count this as a one two three four
Five and the 9th of November Mark the Low of the bear market and we would now Be moving up but I must be very honest With you the move that's happened since The lows or of the lows is Highly Questionable and it's nothing that would Give me You know high confidence in saying that The low is in here so yeah I'm still Expecting here yes a leg up um if not Going down straight away but a leg up But then going down straight away Afterwards so that's my update about um Ada I just want to say thank you again For everybody in the community who has Been delegating or who is delegating any Ada to our new stake pool that we Launched only a couple of days ago we Already Um have more than 1.46 million Ada in The pool now which is amazing it's just Growing constantly and I see every sort Of whatever half a half an hour people Delegating it's just amazing thanks so Much and the fact that we are now above 1 million Ada will mean that we should Regularly produce blocks as well and That's quite an achievement after two Days honestly I'm I'm really really Excited about this and I can only thank You really really thanks so much Um but yeah if you are interested in Dedicating to MCO and supporting the Channel then feel free to check out the
Staking pool that is linked in the video Description and there's also two videos About how you can delegate to Ada to Earn passive Ada rewards also linked in The description thanks so much and I Hope you like the update if you did Please 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