Foreign Bitcoin have in that it doesn't really Follow through at the moment to the Upside that is not a very bullish sign But as you know for Ada due to the Overall chart context I'm actually still Waiting for another low anyway for Bitcoin it is also still likely ethereum Still looks better than Bitcoin in my Opinion but also it's just moving Sideways at the moment Um but here for for Ada the view is Still that the move to the upside here Can be considered an a wave because it Was only in three waves the move down Was also not very impulsive so I counted As a b wave and we'd be moving up in a Wave C at the moment that would be a Five wave move and we can follow that View especially as long as we are in This ascending channel in this trend Channel that we are currently using as a Guide to move higher but also here you Can see we are struggling key resistance Is the wave B High getting above that Level oops getting above that level will Be a strong indication that yeah the Wave C is ongoing the wave B high is Here at around 35 cents getting above That level Painting here So getting above that level would Indicate the wave C is really ongoing And we should follow through in a wave
Three The Wave 3 Target in yellow which Is part of that larger C wave here Um Would take us to around 36 and a half Cents And then there will be a wave four and Away five that could take us all the way Up to around 39 cents certainly the wave A high here which is around 38 to 39 Cents so this sort of still what we're Waiting for looking at the higher level Wave pattern I'm still considering you Know maybe we had Um From That Swing high around 44 cents It's just not loading at the moment but From That Swing High here which was made Back in um I think it was somewhere in In September October that we came down In a wave one yeah that is sort of Unchanged then the view is that this Year was a wave 2 to the upside and We're coming down in three I don't really like the proportions of It but I'm still gonna follow through on It at the moment Um of course with that new low in place Here I mentioned it before it could be That ADA has the low in already but I Don't really see it you know I don't Really see it and Ada would need to do Much more to convince me one of those Moves would be That we actually move impulsively above
41.1 cents that is the 78.6 Fibonacci Retracement level of this move down and Then the retracement to the upside so That's highly important Um but what I also consider is it not That this was not necessarily the one Two no But that this was only a wave one yes And then we have oh yeah well that this Is a wave 2 yes but then Um that's down here we had also a wave One so the one of White Wave three you Can see the wave three down here The one and that we are just putting in At the moment And a b c in wave two of three next we Would be coming down in wave three of Three there would be a wave four or Three in the way five or three before we Then put in that wave four and wide and Would come down once more in a way five So this is sort of still on the agenda And there's different wave counts you Know if we want to consider the low is Already in that's all possible we can do That that would indicate that here with This latest low we have finished a Diagonal pattern to the downside but I Don't really see that yet I still think It would be nice to at least touch the 30 Cent level or 29 Cent level that's The 88.7 FIB level but you know there Are various possibilities still Um and the point is as long as we don't
Really get above that 41.1 Cent level That I talked about I wouldn't really Get very bullish here and we just follow Slightly up at the moment and yeah you Know as soon as we go below this wave Too low there in yellow which is at 32 Point cents and then follow through to 31.4 Yeah I think when we when we do that and Break those levels then we're going down Straight away without putting a Meaningful wave C in but yeah trend is Still at least down you know there is no Clear indication that we are moving up The the what we are doing here to the Upside is losing steam you can clearly See that it is the chart has more and More difficulties to put higher highs in Place Now that shows actually on a bearish Divergence on the RSI on the one hour Chart Um let's see if you can see that on the Four hour chart as well but the thing is That this is not really a sign of Strength It just indicates that momentum is Reducing momentum is coming down and Yeah I mean as long as we are in this Ascending channel it's fine but it Really needs to follow through on that Third wave then yellow So now the four hour chart here you Don't really see that bearish Divergence
Yet but on the one hour it's visible Um also here bullish momentum is just Moving sideways so we really need to see Here price action delivering Um and you know ideally we want to break In that yellow Wave 3 out of the yellow Channel that that sort of where we need To head to otherwise will most likely Roll over here but we need a clear Signal we are caught in the channel so That's where we just need to wait for a Signal of the market really but yeah Target for the C wave overall would be Around the 38 to 39 level before I would Primarily expect one more low again Thank you for everybody who has been Delegating to the MCO stake pool so as You know this week or end of last week It was we've been starting our own stake Pool finally it took a long time to get It all up and running which is now done Within a few days we've actually reached Now 1.65 million Ada which means in the next Epoch at think we should start tomorrow I might be wrong We have a good chance to actually Produce some blocks which is amazing a Lot of blocks take a lot of blocks a lot Of pools take weeks and months for that And I think with over 1 million Ada we Have a realistic chance of participating And have success to distribute rewards Which is amazing over 50 delegated so
Nearly 60 delegators here already which Is amazing as well thanks so much and Hope this pool keeps growing if you Would like to support MCO then please Delegate to the MCO State Pool as well There are videos and there is also the Link to the stake pool in the video Description so yeah if you're interested In supporting the channel and earn some Passive Ada then feel free to do so it Would be highly appreciated thanks so Much and other than that I hope you Enjoyed the video if you did please hit 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 Thank you