Foreign Welcome to another update video about ADA cardano not a long update because we Haven't really seen too much movement Here today on the Ada chart I go to the One hour chart may we see a little bit More here but really I think Um my view is that we have a very Similar wave count now like for example Bitcoin and ethereum at least here in The very short term Um overall very important is that unless We really go substantially above 41.1 Cents I think that any upside here is only Within a larger correction in an A B C Pattern which would then lead to further Downside afterwards Um that just has to do with the let's Say the general Structure of this child it would be Ideal to to go down to maybe 29 cents 30 Cents to that 88.7 FIB level Um currently also what you can see we Don't really see a lot of impulsive Price action to the upside the reason or Because of this I'm going to move this Wave to now here that's what I did for Ethereum and Bitcoin as well just Because Um first of all we're holding critical Support here so we're holding this low At around 31.2 cents yeah this is also The key support level
Um and as long as we're holding that we Can focus generally on higher Um first of all I have to obviously we Talked about that I think earlier today That we broke out of this um trend line No I think I think when I made my video Today earlier we were still holding the Trend line but in line with what Ethereum and Bitcoin did they broke the Trend line as well so I'm going to take That out it's not relevant anymore Um and it now just makes more sense to Consider this as a larger a b like an Overshooting wave B and then we're Coming down in C and to be honest if you Look at the C wave you can see wave one Two three maybe here the four and we Should come down once more but then we Get really really close to the low of The Um or to the beginning of the wave one So it would possibly become a double Bottom or something of some sorts unless This is a w x y pattern so w x And then the Y in three waves that we Could start from here Um again the sub counts are not too Relevant here important is that we're Holding very very important support Levels and important would be to hold The 78.6 flip level at 32 cents below That level invalidation will get more Likely and the invalidation will occur As soon as we break below it's actually
31.4 cents below that level I think well We're breaking the low Um This low at least yeah there is still Here the low from the 9th of November Which is actually at so where were we 30 Point Nine cents and if we go below this level Then I think we could reach first of all Strong support around the 29 to 30 Cent Level and then well if we break below That level then I think we could reach You know 20 to 15 cents absolutely Possible Um but for now as long as we're holding This we can focus at least short term on Higher it's nothing particularly I would Trade to be honest at the moment Um because first of all in terms of Upside potential there are more reliable Charts for example even ethereum is for Example more reliable in my opinion Um and for ethereum there's even a Chance that we have put in a you know a More substantial low here for Ada at the Moment and my view would still be down And even the move up that we had here Ended up being probably only a b wave Um but if this is going to become a Third wave of C which should be quite Strong should be quite impulsive then it Should either start now or okay maybe One more low but then we should really Start if we don't start then then we are
Probably going to see those lows break And that's pretty much everything I can Tell you at the moment about ADA there Is not really a lot of movement that has Occurred Um there is maybe one more wave count we Could consider all of this here as some Kind of a triangle a larger triangle a b C d e and then come down Um that's valid as long as we are now Staying below 34.4 cents and staying Above 31.4 Um then you have a larger triangle Pattern which is normally counted ABCDE So here A B C D E and we would then come Down always to the opposite side of the E wave in this scenario I would like to See at least one more leg up whilst Staying below the 34 and a half cent Level because it could be that we've Done the a we've done the B we've done The C maybe you've done this the D Already And the e-wave would then be the next One which would again it should stay Below the B wave and then if we then Come down first indication that this Triangle is breaking is a break below The 32.3 Cent level here and then the Next indication or confirmation actually Will be if we break below 31.4 cents so Yeah not too exciting here at the moment The price region at the price Development on the Ada chart I'll keep
You updated certainly Um some more good news the MCO Ada stake Pool keeps growing We now have over 60 delegators which is Amazing in just a few days not even a Week Um the um stake pool has been online and If you are interested in supporting MCO More crypto online to enable us to do Better more videos more content and to Grow than yeah maybe you also consider To delegate to our stake pool we now Already have a live stake of 1.66 Million Ada which is just amazing within Not even a week Um I think from the next I mean just now The next Epoch has started so an Epoch I Think it's the least double check it's Epoch Um here 376 has started but I think we Need to wait until the next Epoch to Generate rewards because the large Delegations kicked in or are kicking in From Epoch 377 so that just has to do When someone is delegating and from Which Epoch then the delegation or the Stake will actually get You know relevant for the production of Blocks so that will then eventually Generate the rewards as well so yeah I Think we need to wait one more Epoch to Really see rewards kick in that would be 377 then but it's highly exciting and Yeah it would be great or at least we
Would appreciate if you consider Delegating with the more crypto online Stake pool but then generally 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 then please check out the Channel membership thanks a lot for Watching bye Thank you