Foreign Welcome to another update video about ADA so you know we have we are still we Have dropped quite significantly Um so in the last few hours also since My last video and so far this yellow Count seems to be working out yesterday We did move all the way up to the Previous high but we haven't broken Anything you know in in the last video I Think that was um when we were up here I Told you that this could very well just Be the one two setup Um nothing Nothing too significant and that you Know the way we came down it was also Quite impulsive so it actually suggested To be in a way three we made a new low That's to a degree confirms the break of This triangle yeah we talked about this A B C D E triangle Um The Wave e could very well be Finished here especially as we now broke Below the low of the way of D it was not A substantial break so we only really Well went below it with the wick so for Me that's not enough yet as a break of The D wave Um is always only an indication that the Triangle breaks into the expected Direction and the expected direction is Down from here Um because it would normally expect it Be expected to break to the um
Uh opposite side of the wave e a real Confirmation for such a break of a Triangle is the break of the B wave and That is the 31.4 Cent level we're not Far away from that I also must really Say that if this really is a Wave 3 is Coming down here Um It is probably not finished yet because This sideways consolidation would not Really imply that we are recovering Already massively Um and also what we can do we can take a Look at the Target Target for the Wave 3 I might have given you that in the last Video I can't remember but it would have Been the 1.618 extension at 31.2 cents Or 31.3 so if you really get there it Would be a good confirmation that the Triangle is broken but as you can see The 31.3 level is pretty much just below The B wave low so yeah it would it would Confirm that the triangle is broken Um It's a bit too early to confirm it However it's all pointing in that Direction now Um we have reached the 1.236 FIP Extension it's not an ideal Target for a Wave 3 but it's a possible one so if we Look at this it is a possibility that is Finished here but I'd rather see one More leg down then a wave four up and
Then another way five down and then we Have another chance to well to reverse From there because it would put another Low in place Um what we need to see then and that's Not you can't really make that call yet If this is already the completion of This fifth wave Of three Which would then be resulting in another Wave 4 up and a five down to finish off The overall bear Market Or Is this really only the first wave of That Green Wave five that's what we need To see Um it depends a little bit on how the You know how how far extended we are Down but what I can tell you there's Currently no evidence that we have Finished the downtrend and the triangle Is also not yet broken if we go up from Here now and break above the wave too High then we are basically still in the Range because we've never broken below The B wave low so at the moment it's all Pointing to the direction we are heading Down but it's not confirmed yet by uh Because we are we've basically stopped Here we haven't broken below the B wave Flow so Pointing to the downside at the moment I Am going to focus on the downside as Long as we stay below the most recent
Swing High which is at 33.2 cents which Would be the wave too high again if we Go above that it would invalidate this Imminent impulse to the downside would It be bullish not really yeah not really Um it wouldn't be bullish because even If we go up from here there's plenty of Bearish options that are still possible On the chart so it yeah to be honest it Wouldn't really Um do anything we could Be a little bit more bullish but it was Awesome I wouldn't really want to use The word bullish if we break above the C Wave high and invalidation of the Triangle will really only occur as soon As we get above 38 cents at the wave a High so if we push higher from here for Me it would only be an ABC pattern and We put a c wave in far away four which Would then eventually still result in a Move down so the overall structure of ADA at the moment is not bullish yet no Evidence we have bottomed yet and yet The trend is actually further down the Indicators here if you take a look at The indicators there is some short-term Consolidation I expected because we came Into the oversold range after that Strong move down here today but that's Only on the one hour chart so the one Hour is finding well you could say it's It's sort of stopped going down because It's been oversold on the four hour
Chart however as you can see there's Still space for further downset where The bearish cross on the RSI And let me zoom in a bit oops The macd on the four hour is possibly Putting in a bearish crossover it's a Bit too early to say that but it looks Like that that could also increase Downside momentum and on The Daily we Don't really have the effect yet here we Are slowly recovering reducing negative Momentum but the McD line is still going Down they haven't really reversed yet These lines and yeah also the daily is Still in the bearish range so there is Not really it's not pushing to the Upside here on the daily so all of that Is currently pointing to the downside For me Um again we might we see a little bit of Sideways movement so if I look at the Indicators compared to the price action At the moment at least this looks rather Corrective it's sideways consolidation Sideways consolidation if we are in an Oversold range and we don't really see a Bullish reaction like a strong recovery That rather would confirm sideways well It confirms con continuation to the Downside because we have been oversold So the market tries to bring those Indicators up but not with the price Rather through sideways consolidation And that would rather that's that that
Shows that not enough buyers are coming In the selling is exhausted for now but The buyers aren't really coming in so it Rather would suggest a continuation to The downside that's how I see it at the Moment again I gave you the key Resistance levels from which we can be a Bit more bullish but um with Ada at the Moment it's all pointing still to the Downsides unfortunately yeah which is an Amazing time to stake you Ada just Joking but if you really want to Delegate your radar feel free to support Our staking pool that we only set up Like one one week ago 10 days ago when We made you aware I think last weekend Um it is now at around Um you know in the in an Epoch where I Think we are not generating rewards yet But possibly from next Epoch from the Next Epoch we are going to generate Rewards that just has to do with the you Know the timing when and the delegations Came in but you know the staking pool is Growing and yeah you know it's a great Time to maybe put your Ada from an Exchange onto maybe the the Euro wallet One of the recommended wallets and maybe Connect them even to your Ledger and Then you can delegate your Ada from There there is luckily no lock-up period With Ada so you can always access your Radar they aren't sent anywhere you're Just delegating you still have full
Control over your Ada and that's the Great thing with Ada when you delegate Or stake Um it's not locked you always have Access to your Ada so that is really Good that's different from from other Blockchains where it's actually locked There's a lockup period Um so yeah this is an advantage and if You like to support more crypto online Then feel free to delegate to our stake Pool You can find the link to the pool as Well as two videos where it's explained How you can actually delegate your Ada You can find those links in the video Description so yeah hopefully you like The updates 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