Foreign [Music] Welcome to another update video about ADA here in the short term I would also Ideally be looking at some upside but The difference to for example ethereum Is that we have here Fairly strong indication that there is Still downside pressure on the chart I Mean ethereum still has downside Pressure as well don't get me wrong but Ethereum at least has a clearer not a Very clear but a clearer breakout Pattern but I talked about that in the Ethereum shot here actually with Adar I Would primarily still be looking at Lower prices for Ada Um however and that is what I mentioned In the previous video as well it could Be that the low for Ada is already in in An ending diagonal wave pattern and to Get more evidence for that I would want To see the price rarely above 41.1 cents Then we can say with more confidence That a lower has already been made but Here in the very short term my view is That we are in this sort of five wave Move to the downside one two three four Five that went on this third wave and Maybe here have developed a one two Setup or we're doing that one two and Then come down in three of three so I Will eventually have to move all of this Here to the right hand side so and
Because it always takes a bit of a you Know a bit of time but um we could say And this is Possible at the moment yeah it's of Course difficult to say in the current Situation something is for for certain But um the way we came down here Suggests that a five wave move to the Downside was was finished so this could Have been a wave one of three then here I mean this could theoretically have Been a wave two of three already Um but then the move down was not really Impulsive so we have here corrective Move up here corrective move which Suggests that this is some kind of a Flat pattern which would be followed by An Impulse to the upside now this is Also not yet very clear But we also always try to show you the Opportunity the breakout points if you Want to trade this long for example be Aware that this might only be a c wave Of Wave 2 for example and would then Come down once more most likely unless We can rarely impulsively above that 41.1 Cent level because above that level It would get unlikely that it's still Some kind of a wave too Um but yeah it what counts I think at The moment is the short-term price Action here Um this suggests at the moment we could Move up higher especially as long as we
Are in this channel here and a really Good sign that we are moving higher in The third wave would be a break out of The channel to the upside so this would Look a little bit like that and I can Give you a target for the third wave as Well so what would be the signals that The third wave has started so important Is to hold of course here this swing low At 32.1 cents very important then in Addition to that we need to Rally above 34.1 cents If we do that we have to break the wave B high at 35 and each of these levels When they get broken they increase the Likelihood that we are in the third wave And when braking above the 35 Cent level The wave be high then we've most likely Broken out of the channel already Now if I look at the target for the Third wave You can measure it with a Fibonacci Extension tool And that should take us to 36.6 cents For the For the third wave And then we're looking at something like Yeah in anywhere higher than that really For the fifth wave textbook Target would Be the 2.618 extension 39.4 cents but be Aware that the first resistance major Resistance or Target is probably this Wave a high Which is around
37.8 cents So this is sort of what I think is gonna Play out especially as long as 32.1 Center solding if we lose this Level very clearly then this thing is Probably subdividing lower and we're Already in an Impulse down in a third Wave to the downside And um If that really is the case then a Target Just roughly For the third wave down would be around 23 cents the 1.618 extension here so This would be a key Target Um if we lose that 32.1 Cent level Already because if we lose that without Subdividing higher then we are probably Going to retest immediately the 31 Cent Level the low from the 9th of June and Then we're probably losing it and also Come down quite impulsively so this is Currently where we are it's a bit of a Slow market today and at the moment Generally so hopefully I still like the Update Um but before we finish thanks a lot for Everybody who has been on who is Delegating to our own stake pool Remember we only started it a few days Ago five days really we made it public Um it says it was created around about Seven days ago but we never made anybody Aware until like I think um sort of the Weekend
Um so again we have already crazy 1.63 million either delegated which is Just amazing thanks so much to the Community obviously it is growing every Day and the pool is by far not saturated You can see that here but having over 1.6 million Ada in just a few days is an Amazing accomplishment many other tools Need many many weeks and months for that I also thought we need weeks for that But It happened much faster than anticipated And ideally from the next Epoch that's Stake will go live right and all the Delegations will contribute to creating Rewards for everybody who has been Delegating it with delegating so it Should be the next Epoch that should Start I think in a couple of days and Then it would be very exciting to see or It will be very exciting to see if in That Epoch we are already producing a Block again many pools it normally takes Them weeks or months to produce a Blog Some never do right but with over a Million Ada we have a really good chance To do it so I'm very excited looking Forward to that and if you also want to Support the channel delegate your Ada to The Ada stake pool then you can do that Um by following the links in the video Description there's also two videos that Explain how to do that thanks a lot for Watching bye
[Music] Thank you