Foreign [Music] Hello and welcome to another update Video about ADA so Ada has still not Made that one more low that I would Ideally like to see in this wave pattern It just would make sense to get it just From how the structure looks like Um by the way we're looking at this First of all from a bullish point of View which I don't think is very likely I'm not convinced but there could be Short-term upside potential and we will Make one more low afterwards Um and then we take a look at the Imminent sale of count as well so Um there are charts at the moment that Give us a decent Short term at least short-term bullish Outlook for example ethereum even Bitcoin right just as an example Ada doesn't really there is a Possibility here to count it bullish Yeah this one as a leading diagonal and Then here As already explained in the last video As an A B C pattern but the C wave but The C wave would be a five wave move one Two three four five so one more leg down Would be ideally missing the problem With that is if we get one more leg down We are most likely going to break the 30 Cent level and that is also the 78.6 Fibonacci retracement
Of the wave one and that typically is Not really good in terms of a bullish Outlook if you break that right yes Surely we could find support here at the 88.7 flip level at 29.8 cents that's Fine but it would come down quite a lot And if you compare the move up with the Move down the move down looks far more Impulsive than the move up Um as the move down looks much more like Into the trend direction right therefore I'm really skeptical about this bullish Count but I can't rule it out as long as We're holding here the 30 Cent level Especially we can focus well we can't Focus on higher but upside potential is Possible and we are now deep in support So anywhere here it should turn around Or it will lose support and will break Down and make a new low and we talk About Targets in a minute Um the way this would look like is a one Up a two down the next wave up would be A wave three Target for that Would be Roughly the 34 35 Cent range Signal that indeed we are going higher Would be a break above the wave one low Here that we had here on the 26th of November Um that would be at 31 cents breaking Above that or 31.1 Cent breaking above That would indicate we are already Moving up maybe without making one more
Low a better indication would be a break Above the wave too high of 32 cents okay And then obviously we break next Breakout point would be 32.3 and then a Very important resistance level is the 33.2 level What is the bearish count the bearish Count is this yellow count here and I Showed you in the previous video as well Where we're saying This move down was actually yes it was a Five wave move but it was actually a Wave one only of a larger impulse to the Downside we're doing here and this makes Sense the way it looks we're just doing Here a corrective move up at the moment Okay and we're coming down quite Impulsive in a wave three So if we say okay this was a wave one This was a wave two then Target for the Third wave is around 26 Cents and target For the fifth wave is around 22 cents so Let us sort of at the moment what the Chart suggests for a bearish outcome Which I'm in favor of Because the charge just hasn't yet shown Really really bullish potential not Since the last low has been made this is Not really any impulsive structure here So I have to focus more on the downside I am observing short-term upside Potential but that doesn't mean that it Has to be the primary expectation yeah I'm actually
I'm actually focusing more here on the Um Focusing more on the downside yeah I Don't think this move is over yet To the downside yeah and if it is if it Is then what I would like to see is Those five waves to the upside as Complete and then the retracement which Is going to follow would then be a Suitable entry point Okay that's my update about ADA Um Bear in mind we recently launched our Own stake pool the more crypto online Ada stake pool if you like to support More crypto online as a channel and if You like to earn Ada rewards passive Ada Rewards by delegating your Ada to a Cardano state pool run by more crypto Online then feel free to check out the Links in the video description there's Two videos to explain how you can Actually delegate to the MCO State Pool And one link leads you directly to the Pool it's a very young pool only two Weeks old so we haven't generated any Rewards yet normally takes some weeks to Do that we've grown incredibly fast Already so we already have the minimum Uh Adar delegated that we need to Generate rewards so we'll know in one or Two epochs if we actually generating Rewards already but the more people are Delegating their Ada the faster it will
Be for us to generate rewards which is Fantastic we now have over 100 Delegators as well which is amazing and We're growing day by day so if you like To support more crypto online then feel Free to delegate those as well and other Than that 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 please check out The channel membership thanks a lot for Watching bye [Music]