Foreign Welcome to another update video about ADA so for Ada as already said in the Last video we Could be turning around here is it high Confidence for me it's not yeah I would Actually primarily until I really see Those five waves up as complete I would Not commit here to anything like the Lewis in or anything anything similar This to me looks still very very much This move up yeah doesn't it it's Definitely not an Impulse it's a five Wave move yes Um but it's not an Impulse so at best It's a diagonal pattern You can also count it as a three wave Structure Um so I'm not convinced about this this Could very easily just break down and Make new lows Um in fact you know I don't really I won't really I mean this is currently The count but I won't make this the Primary expectation Um until I see those five up as complete And until I see an ABC which shows Support this move up is just a bit too Unreliable for me yeah now that we go up Short term would be confirmed or at Least we have a good chance to move up Higher if after these five waves we're Now coming down into this area Um for a possible wave two between 30
Cents and let's call it 31 cents you Know so if this is a wave one and by the Way I have no sign that this has Bottomed well it could maybe have Bottomed or um sorry that it has stopped Yeah I mean my view is maybe this is Even topped in five waves already and This was already the wave too sometimes You get a very short wave too we would Have missed here the ideal support area But this would have come down I get to The 38.2 yeah the 38.2 percent flip Level and to be honest I need to adjust The target here a bit just purely Because Um it moved a bit higher I think after The last video but um a wave 2 can Definitely Bounce from the 38.2 percent Flip level confirmation for that would Be that we are in this third wave up Confirmation would be if we break above The wave 5 high at the moment Um so that's basically a 32 cents at the Moment this could very easily Because we haven't broken above the high Could very easily just be an a an Overshooting wave B and we come down and See into this support area that would be Ideal and then we can move up Um but generally the whole Prospect here Of Having something bullish here yeah of Course it's possible you know we made a New low Ada can now put new highs and
That's not a problem Um but the first the first wave one here If it is one doesn't really look Convincing right so we can also easily Count all of this further as Um well you know see all of this as a Further move to the downside and there's Various possibilities Um for example I can look at this here As An ending diagonal not necessarily as a Triangle but I would say here wave one No not I've got the wrong count you know One second One Two here and that we're coming down in Three now there'll be a four up in the Five down that would be all of this then Um A diagonal pattern yeah so I would have To count the sub waves as ABCs that's Possible Um we do something on bitcoin ethereum At the moment Um the point here is that yes we can Look at possibly something more bullish But in the current environment with this Price structure I want to see complete Five waves up before I commit you to Anything like the lowest in I'm putting It on the chart because we have possible Five waves up but please understand this Is definitely not reliable and I would Actually still look for lower lows at
The moment in the current environment For Ada but short-term upside possible If we hold this support area that I Indicated next major resistance is here The 33 Cent level that is the wave e High of this triangle if we go above That level Um yeah then we could reach here the Area around 34 and a half and then even All the way up to 38 cents and that Could be the top of this fifth wave We'll see Um Certainly nothing I find here is a Highly reliable trade at the moment There's a bit of uncertainty here There's other charts that look a bit Better Um but also here I would think that the Move yeah above 33 cents would give us Clarity because if we move above 33 Cents I have to I have to assume the Wave A 1 and the Wave 2 is already in And we're moving up in wave three if That was the case the ideal Target for The third wave would be 35 and a half Cents okay Um that's the 1.618 extension actually Then there will be a way for and away Five up and yeah again that could take Us to around 38 cents the 2.618 FIB Extension Um but it's not high confidence and even If this five wave move works out I want
To see three waves down to confirm with More likelihood then overall low was Made until then because all we're doing At the moment is just lower lows and Lower highs still right so don't become Too excited here just because we have a Smaller five-way structure up it's not An Impulse it's at best a diagonal Pattern and in fact you can can you Actually see this as some kind of a Ascending wedge which would be quite a Bearish pattern generally anyway maybe Yeah it's not enough touch points down There but possibly and that would break Down anyway so very likely this is just An ABC and we come down in a c-wave of Two yeah or make a new low so again You know forecast would still be lower Lows okay but this is something I'm Watching Um and when we hold this support area it Could even make a long trade yes even Though we're not a very reliable one Um and it's certainly something to watch Yeah we need to have it on the radar Yeah that's my update about ADA um If you like the update maybe you want to Consider to delegate your Ada to our More crypto online official Ada stake Pool you can find a link in the Description to the pool and also a link To two videos that tell you how you can Actually delegate your Ada to the stake Pool you will never give up
Um you know your your sort of power over Your Ada you're not sending your Ada Anywhere you're just delegating them to A stake pool and with that you support The katana blockchain chain and you Support the more crypto online channel Of course and stake pool we already have Nearly and that's gone up massively in The last few days we have nearly 100 Delegators now which is amazing we've Only recently started the pool anyway a Couple of weeks ago over 2 million Ada Now in the pool and this is the first Epoch currently where we should be Generating rewards so I'm very excited About that we'll know more in a few days I think and of course I'll keep you Updated yeah but if you like the updates Please hit the like button leave a Comment and subscribe and if you really Like that update then also check out the Channel membership thanks a lot for Watching bye