Cardano ADA Price News Today – Elliott Wave Technical Analysis and Price Now! Price Prediction!

Cardano ADA Price News Today - Elliott Wave Technical Analysis and Price Now! Price Prediction!

Foreign Welcome to another update video about ADA well what is bike today from the Support area Um worked out very very nice Um We have hit this support area we bounced Off it and we're now we have now broken Even above the trend line there yeah so All of this currently indicates a Reversal for Ada at the moment yeah as Long as we're holding the next Retracement I can currently only see Three waves up so it would be good to See or maybe let's take a look at the Five minute chart If we sometimes might be worth looking At the yeah I don't see very clear five Ways I mean you can find a way to count This as five wave structure but Um I would like to see one more like up Here to indicate we have reversed this Situation is much clearer on the um Ethereum chart now with the latest Spike But for now I will assume that what We're doing here is the beginning of the Third wave Yeah we've come into support and we've Bounced of it unfortunately we didn't Get very deep in support uh it's always Nice to get sort of into the middle of Such a support area but obviously the FTX news triggered a massive reversal on All the crypto charts on most of them

FTX looks pretty poor or ftt Um but um overall yeah but you know I Can currently only assume that we have Bottomed here in Wave 2 that's the only Reasonable thing to assume at the moment After we came down in five waves yeah Um of a c wave because the five waves Were complete yeah and we are looking Now at the third wave to the upside Where it would as soon as we hit the Support Arrow we can always reverse best Indication then to understand the Reverse is happening is a break of the Trend line that's happened literally in This hour so it will be interesting to See do we actually hold the trend line Do we hold support we don't necessarily Need to hold the trend line what we need To hold is the 78.6 retracement so in Any retracement which now occurs Um I mean I don't have evidence it has Stopped yet but let's say we have top so If we come down now and profit taking is Kicking in what we need to hold is the Absolute minimum you know or maximum so We shouldn't go below the 78.6 retrace So we shouldn't go below 38.2 cents if We go below that level then this was Probably just a fake out but for now I Assume we have reversed and there is no Reason to chase if you haven't bought in The support area then I mean I'm not telling you what to do Right but

I did buy this morning But had if I hadn't bored yeah across The market then I would now wait for a Good setup always waiting for a setup um That's what I do I mean you can trade What you want you know I'm not telling You not to buy but for me it's always Useful to wait for a setup what is a Setup a setup is for example a one-two Setup so let's say we move now up in a Wave one that would be the wave one of The third wave yeah we come down in a Wave two I will buy the Wave 2 support Area The same way that I bought the Wave 2 Support area here earlier today yeah Um so these are the things that Um I do yeah buying in support some People like to trade breakouts the Problem if you trade a breakout like That you're already sort of getting Exhausted on the lower time frame Because as you can see we are already Here where we're not yet overbought so This certainly has a bit of room to go Up higher and that happens when bullish News hits an oversowed market so um on Lower time frames yeah then you see Those spikes so it can't push a bit Higher still Um What are the now the next levels so with Ada obviously we talked about there was Like last Friday the Friday no 21st

October that we could have bottomed here More substantially we triggered that a Wave one basically not a very reliable One but a possible impulse or diagonal Pattern then hear the wave two initially We thought this might have been the wave Two we had a reversal but in the end it Looked like it was only a b wave coming Down once more in C having another Chance to go long and then now we should Be in the third wave good is the Development that we already broke above The trend line now we haven't broken Above the previous wave four high that Would be important to now indicate more Strongly that we have bottomed a move Above 41.6 cents and then the next Breakout level will be the 44 Cent level And if we do that then I think we can Get sort of into the 50 Cent region Again important will now be to see how This is going to carry on in the next Few hours I will do another video later today uh If I have time to when we have a clearer Structure because things now really Happened in this hour very fast yeah so I always like to see when things have Settled a little bit the pullback how Far do we come back and so on so I will Definitely keep you aware and make you Aware of this uh keep you informed make Sure you understand How is the likelihood if we have

Bottomed or not so I'm observing this Now I'll keep you updated as soon as Profit taking will kick in it is Important to all these 78.6 retrace and Then we have a valid one two micro setup Okay and that's my update about ADA I 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 bye

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