Foreign [Music] Was also one of the coins that could Have bottomed now when it hit the 30 Cent level that has always been my Target really or not always but Um already in May I wanted to see the 30 Cent and we missed it we now finally had The 30 cents Of course it could have bottomed here But there is no convincing signal yet So for now I'm going to expect further Lows for Adar which would just mean that Here in the in the fifth wave here in Yellow in which we are Now that we are still putting in so Basically as an A B C wave yeah that This C wave isn't finished yet so so the Idea is that the fifth wave Is a three wave pattern a b c And that this C wave Um well based on this count it would Have only done so far a wave one a wave Two Next we should come down in a wave three There will be a four and a five okay So That means we're currently probably Finishing off here a wave two And let's take a look at how high do we Can we actually reasonably go In this wave too So it shouldn't really go above 32.5 Cents that is a 78.6 FIP level that is
Important resistance Um if we go above that level it would Point it would already indicate that it Might not be a wave two that might be Something a little bit more bullish but It's of course still very early Um breaking Above This wave e high of That triangle That would be a bit of a more bullish Pattern or bullish signal yeah Um but it's all not you know not enough In term you know for us to say that the Bottom has really been made so to really See or say that the bottom is in we Would need to see five waves to the Upside complete similar to bitcoin I Explained that earlier today Um when I made the Bitcoin video what is It really that we need to see to confirm That Bitcoin or in this case Ada has Bottomed well we need to see this this Five wave structure Complete five waves up and then we want To see when it has peaked we want to see Three waves down a b c hitting support Yeah making a higher low And then when it turns around here that Is really when we can say with more Conviction yeah and more confidence that An overall low has been made for Ada Until then this is absolutely still at Risk Um Ada hasn't done enough to convince us You know we haven't even made a higher
High or anything So um I've sketched out here possible Bullish outcome and a possible reversal Pattern but as you can see all we've Done so far is here possibly a wave one Then I told you that out of this pattern We are most likely going to go down in Wave 2 which we did we hit support here This was a long trade area yeah anybody Who's done that Would now be in profit but there's no Guarantee that we're going to push Higher from here yeah signal that we are Going to go higher is a break above the 32 point well one cent level 32.2 yeah So getting above that wave one high here That would be a signal that indeed we Are going higher and the target to be Honest for that third wave in blue would Be 35 cents yeah 1.618 extension so that Would be a Target And this would be the next signal that Something more bullish is unfolding at The moment this structure here with a Lot of overlaps doesn't really convince Me this was at best a leading diagonal Yeah then here wave two down and here Again you know this could yeah okay Maybe another one to set up but it would Really need to push now yeah or very Very uh soon or I'm concerned it will Lose momentum And it will just break down again okay
So just be aware of that so to make it Very very simple my primary expectation Is still another low as long as Ada Hasn't put in five waves or as long as It doesn't really you know until it Gives us a more reliable wave pattern to The upside my primary expectation will Be still for another low Um the point here is that a leading Diagonal is not a reliable pattern and Until I see five waves up I won't be Able to call out the bottom here so we Can follow it yeah we can watch it but This bullish pattern here is simply Something that I'm only watching it is Not anything that um yeah I'm going to Follow here as a primary expectation or Anything at this stage and yeah that's Basically my view about ADA here at the Moment again Key support area remains this one here All the way down to 30 cents if we drop Below the 30 Cent level the bullish Potential will most likely be gone Um because then you know if we come down Into this yellow area again it would not Necessarily be a problem Um it would just mean that most likely This Wave 2 was actually not finished Yeah this Wave 2 will be finished over Here and that all of this is just a Large A B C pattern and we've could we could
Have done here the wave one two would Come down in three four five yeah but Below 30 cents Um This setup is also very very very very Questionable so it's a very you know it Doesn't really matter what happens but The 30 cents need to hold to get a bit More confidence here in any bullish Setup and then of course you know we Need to see that five wave structure Play out and when we then see in the Retracement the support hold that is When we can be a bit more confident in Ada having put in the low but the key Resistances are here the uh yeah 32.2 Cent level then we've got 33.2 and then the the target for the Wave 3 was 35 cents which is very much In line with that c High Back from middle November so it makes Sense that we find some resistance there As well so this is my update about Adar Um as you know we've also we also have Our um Ada stake pool running which is Growing we now have over 100 delegators Which is amazing in just a couple of Weeks we've got more than way more than 2 million Ada staked already The first Epoch where we have a chance To generate Rewards That finished I think yesterday or a few Days ago we won't know if we generated Any rewards in that Epoch until the next
Epoch so we need to wait for a few days But I'll keep you updated I think There's a good chance that we generated Rewards Um but yeah we are growing and if you Like to support more crypto online and Our stake pool for Ada feel free to Delegate your Ada as well would be Highly appreciated and it helps to grow More crypto online as a business as a Channel and we obviously support cardano And the decentralization with that stake Pool as well and if you are wondering How can you actually delegate you find Two videos in the video description and The link to our state pool as well okay Thanks a lot for watching 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 [Music] Thank you