Foreign Welcome to another update video about ADA cardano so come for here the The View remains that Um we're probably gonna make another low That is unchanged the view Um this could of course change if this Becomes now something more sustainable To the upside but at the moment the Overall price structure does not yet Give us enough evidence to say that the Low is already in so we are monitoring It we're waiting for a clear let's say Trade setup I personally believe that These are interesting long-term dollar Cost averages dollar cost average ranges But also please be aware that and I Mentioned that regularly in videos and Also live streams and on Discord and Telegram that Generally investing in altcoins in such A deep bear Market is risky so what I Tend to do I just keep my exposure of Altcoin's low sometimes um oh no Yesterday I had a comment and someone Asked that I always say I have um Only limited exposure exposure to coin X Or Y or whatever and the person asked You know what what do you actually own And I said look for me and that is part Of my huddle portfolio for me my biggest Holdings are Bitcoin ethereum Sort of historical because I bought it Really early really early but generally
I try to limit my exposure to altcoins To maybe two percent three percent Ideally even lower if they are smaller Altcoins in especially in a bear market For me altcoins are getting a lot out of Little little input but you can get a Lot a lot out of it and if I have let's Say 10 15 coins and five of them go down In a bear Market maybe even 10 golf them Go down but I really only have a one to Two percent exposure it won't kill my Portfolio but the other five that are Gonna make it they could do 100x or Whatever so you know that's sort of my View of it and as we get into a bull run Again the altcoins that are gonna that Are you know where you can see they are Moving back into an uptrend they are Then interesting to add more funds to Them or actually move funds from Bitcoin Over into the altcoins but generally it Is yes it is long-term DCA range at the Moment just be aware that With the altcoins they are higher risk Than Bitcoin ethereum right Um I think Bitcoin ethereum are Basically the place to be in a market Like this Um if you want to be in crypto at all Because I know a lot of people get Scared these days which which on the Other hand is good as well because it Means probably that the downtrend is Getting close to an end
Does it mean it has to it has to it has To stop now no we could still get Another 50 drop or whatever in crypto That is unfortunately still possible Right nothing you should never rule Anything out in these markets and that Is also why generally in terms of DCA Dollar cost averaging I do DCA here and There step by step bit by bit but not Large amounts until we get a bottom in Place or well it's easy to say but until We get at least a confirmation that the Bottom is in place or an indication Right so until then we have to be Careful in this market and overall here With Ada as well yeah we have Um now had a little bit of a green Candle today someone commented um is That still my view here after the Massive pump today well don't think There was a massive pump there was a Small green candle really that took us Out of this um descending which I think It would be interesting to see how the US Stock Market opens that could Depending on where we are with that that Could lead to another move up I think It's getting a bit exhausted there as Well because we had a bit of a rally in The last few days so that could lead to Some profit taking and Um yeah but I think there is here the Potential on the Ada chart for some for Some more short-term upside in this
Pattern because we had a corrective move Up of the low we have a corrective move Down in ABC that would be a flat pattern A b c and we have an early signal here That we could see an impulsive move to The upside in a c wave at least to the High of the wave a so the first Target Would be 37.9 cents but it's way too Early to confirm that all we have at the Moment is one wave up what needs to hold Now is the retracement so coming down Now in the next retracement that needs To hold so we must not make another Lower low and if we draw the fips here Key areas of support based on Fibonacci Support are first of all of course Um you could say it is the descending Trend line of their channel of that Wedge ideally you are now doing a retest From above That could take us down here for example To the 38.2 percent FIB level at 32.38.2 flip level at 32.8 cents Um that would hit probably the the wedge The the trend line right and that would Be a good retest maybe even the 50 at 32 And a half cents and then ideally you Are moving up and as soon as you break Above 33.6 cents that would be a good Signal we are moving up in a c wave Which would be a five wave pattern Further confirmation would be obtained As soon as we go above 34.9 cents that Is the wave B high but you know I
Wouldn't really go bullish on this one Until we have a clearer structure in the Larger context because the larger Context allows us to still look at lower Lows here in a five wave pattern which Started here at around 46 cents we came Down in wave one this year was a wave Two we are now moving down in a third Wave there will be a fourth wave up and The fifth wave down however Alternatively Alternatively and that is what the Market now needs to show us We can look at this differently and can Say that we already had our wave one Here back in August this was Wave 2 a Long wave three down a wave four Up and Away five down that would be a so-called Diagonal pattern in that scenario we Have already made the low but there is Just purely not enough evidence and Because diagonal patterns are not very Reliable patterns I would want to see The evidence for that what would be Evidence evidence would be that we are Um Breaking above So the evidence that a low or at least The most substantial low is made would Be that we break above the 41.1 Cent Level that would be at least a strong Indication because this would be a move That Um you know would be a retracement with
You know that if we get above that level It would be a stronger than expected Retracement and then we can on the flip Side say that it has more of an Impulsive character to the upset it Would also be too much really for this C-wave and that's sort of what I'm Waiting for right that would give us More clarity until that is the case I'd Be focusing here on the downside however Short-term upside is possible and Actually likely against the low here of 31.4 cents and I gave you the key Supports and ideally we're moving up now In a c wave here further to the upside And I gave you the first Target for that As well so 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 our Teacher membership and if you also want To delegate your Ada to the MCO stake Pool and earn some passive Veda then Check out the videos as well as the link In the video description to our staking Pool thanks so for watching bye bye