Foreign Welcome to another update video about ADA so Ada after it hits the 88.7 flip Level here around 29 cents Um and by the way for that it really Depends which chart I use I figured out Um in the previous videos I used the Ada USD chart on binance this is now Ada Usdt and actually the 88.7 FIB level has Shifted down to just below 28 cents um Don't know really which one to believe That's one of the problems in crypto When doing technical analysis Um but anyway we reached 30 cents and That was a key support from now Obviously after five waves down which You can see here we can count as five Waves down I did think that we might Still be in a way for but we are now Pushing up in five waves so this has to Be the count five waves down with that Theoretically Ada could now have Finished the bear Market do I believe it Not really Um it's not high confidence yet but we Can look at it from a chart point of View at least to get some more Some more upside because we are pushing Higher in five waves okay Bitcoin is Doing that ethereum is doing that Um the moment of truth will be the next Retracement down Which we're not starting yet but we Should start it soon Ada is now on the
One hour chart okay Ada is not yet Overbought but we see a slight bearish Divergence already on the one hour chart Unless it can now push higher so that's Rather a sign of weakness also I must Say the five wave move which Ada is Putting in here is not very strong Um let me show you But it's an it's a possible impulse it's A No it's a diagonal it has to be a Diagonal so it's not high confidence Anyway reason is that the waves 1 and 4 Are overlapping here Um unless unless No they're not overlapping if I consider Wave four as a small triangle because The end of wave 4 is important so waves One and four actually don't overlap but It is a bit of a forced count to be Honest Um but we see five waves up right Um it's still not high confidence I Would say but the point is that yeah Surely you know whenever we make a new Low now and we've reached a key Target For Ada to the downside then any five Wave structure to the upside can be Considered as a possible wave one So in that we are looking We might be looking at something like This one two three four five make that Um a different wave degree But this is at the current stage
Um Not high confidence yet okay So The next retracement will be the moment Of truth if we talk about a target for The fifth wave now Then we take the length of the wave one We add it to the low of the wave 4. And the first Target would be 32 Point Four cents that is the one to one ratio Yeah that would be the very first Target Here for the fifth wave if we don't even Get there then that would reduce the Likelihood of it being an actual five Wave move even if it looks like that it Could just be an ABC Um Know a w x y it could be wxy but would Also not be ideal so I think it is a Five wave move here but on these lower Level counts with fragile accounts and Micro counts you sometimes get very odd Movements Um by the moment we can consider that a Five minute move especially as Bitcoin And ethereum are currently moving up in Five ways as well So there's now two possibilities If we come down and hold here the Support area which Let's assume we come up to 32 cents Roughly here then the area it would need To hold in the retracement
Would need to be this between 30 and 30.8 cents Yeah assuming we get we measure from 32 Cents Um which would be an ideal Target for The fifth wave of the first If we go below that level it will most Likely break down okay already and then We don't we have something weird here Um So obviously one possibility is we've Seen the bear Market low again I don't Really believe it yet until I see it Um but the other possibility is that We're just putting something In like a diagonal here to the downside That Um and that's absolutely possible as Well maybe that was from This Way Forward at the top yeah we don't Actually have an ABC here but we might Have a one Two Three Four Five right so we could look at a little Bit of a higher wave four that's Actually what I'm preferring currently For Bitcoin as well Um But even in this Movement we would Expect then a higher price so it would Be Just to show you that and what we've
Been doing here is actually an a A b and a c So that's why it will be important first Of all first moment of truth will be This retracement Then if we rally The next Moment of Truth will be the Next retracement if we're holding a Certain support level it could be a wave Four if we break down then it was on ABC So we can Define these support areas as We go and that allows us to understand The key invalidation points but for now We might have put a more substantial low In place not necessarily bear Market low I'd be very careful with that but at Least a more substantial low where we am Going to Rally in a larger three-way Structure before we come down once more So we'll take it some We'll take it as we go I talk to you in Every video obviously about the Possibles and possible scenarios the one Or two most likely ones so um I keep Keep an eye on that for you hope you Like the update about ADA if you did if You did like it please hit the like Button leave a comment and subscribe and If you really like the content then Please check out the channel membership And also If you like to consider supporting more Crypto online check out our more crypto Online MCO steak pool from this Epoch we
Should be generating the first rewards It has only really launched a couple of Weeks ago Um and it's growing we've got more and More delegators every day so to find out More about the tool and how to delegate Your Ada check out the links in the Video description and then you can earn Ada rewards and you're supporting the Cardano blockchain as well okay thanks a Lot for watching bye Thank you