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 [Music] Welcome to another update video about ADA cardano we talk about the lower Level wave count here maybe before we do That we zoom out a little bit take a Look on the four hour chart just to get Idea where we come from and because we Get new viewers regularly and they also Want to know where we are so looking at This sort of four hour chart here with The Um chart history since May 22 we can see That we are in in my opinion according To the elite wave count in an ending Diagonal in five waves to the downside Wave one was already done here in July Wave 2 Peak Tea in August Wave 3 down Into October Wave 4 up in November and Ideally we are going to come lower in a Way five this way 5 Could theoretically be finished because All I wanted throughout this entire Chart history is to make a new low When we made the new low here on well That was when we broke down here in October that was the first or that was a Possibility that a low could have been Made but Ada didn't use the chance so we Then made another low And finally got to my target the 30 Cent Level And yes surely We have five ways down even if we say

The wave 5 is a bit shorter than Indicated here and it ended maybe really At 30 cents yes a low could be made you Know maybe Ada has already completed the Bear Market do you believe it Probably not I don't believe it and even If it was the case then I would want to See a signal I would want to see a Buddhist reaction I would want to see Five waves to the upside three waves Down Things like that we don't have that at This moment in time so let me zoom in I'm going to show you why So I'm not convinced I show you a Bullish wave count here as well and the Bullish scenario which is how Ada needs To move if it wants to carry out a Breakout but at the moment we're just Not there So in this fifth wave that I showed you My interpretation is that we are moving In an ABC structure with a down wave b As a triangle and wave C down As per this We're currently in the C wave one Done two ideally done as well we should Now come down in a third wave there Should be a fourth and a fifth wave this Would be the most ideal pattern and with This pattern Ada is constrained below 33.2 cents if we break above 33.2 cents would it make the entire Chart bullish

No we can then with higher confidence Consider bullish options but There's nothing Stopping us To say that maybe it's not an ABC Structure this wave one maybe it's a Proper five wave move and um we actually Moved down completely here in a wave one That gives us all this space to retrace In a wave two then we come down in a Three then we move up and move up in a Four and then we come down and down in a Five so you see there are still Short-term upside Possibilities without suddenly going Full bull mode here yeah and this is Just due to the Chart history and at the Moment especially you know I'm not too Confident about bullish options because Ada just hasn't shown enough yet if we See a strong push to the upside of Something yes surely Then we can consider bullish options More closely The advantage of the current price range Is however That we are very very low and very close To key support I mean key support is Obviously here 29 and a half cents yeah And we're not far away from that Which allows us if we wanted to go long Here at 31.7 cents We could set a stop loss really tight Yeah so there is pretty pretty low risk

Too high reward if anybody wants to go Long here I'm not telling you to do it Because for me this is not bullish Enough yet I don't have enough signals But anybody who wants to buy it anyone Anyone who wants to trigger the buy Button Um the advantage at least is that is Fairly low risk High reward yeah because I mean let's say we really have seen the Low yet Um with Ada Let me let me say we let's assume we've Done it then I mean the target you know That for the next Blue Run is around 4.40 so it's not too bad risking Maybe Um how much is it three to four cents Maybe or two cents depending on where You set your stop loss for whatever four Dollars profit not too bad right good Risk to reward Ratio or good reward to Risk ratio Um but it's not necessarily high Probability to work out but low risk High reward generally yeah not Necessarily from a probability point of View and why is that that is why because I mean you can see the bullish option See on the chart let me move the bearish Count out of the way the bullish count Is As follows that we've moved up here from The low from the 21st of November we Moved up in a wave one we came down in a

Wave two based on this we should now be In a way of three And so on and it will Cascade higher but In the Wave 3 we've done another one two Setup and here possibly another one two Setup As long as we are holding generally Above 30 cents we can focus here on Higher short term but again it's not High probability my primary expectation Is still to make a new low but this Count is a valid count it's just not Very high probability but if it works Out it would be super bullish because it Is a combination of one two setups here Which means as you can see here Yeah in the roadmap on the roadmap each Of these waves one and two Will need a wave three four and five and That will help the price to Cascade Higher should we get the breakout and The breakout would be above 33.2 cents now if we break above that Level it doesn't necessarily mean we go Again we don't necessarily have Confirmation that we're going into a Bull run But it means that there should be or Could be some short-term upside maybe Into the region around here 38 cents Okay and maybe it would be the bull run But it's too too early to confirm that Um what would give me more confidence To confirm a bottom has been made is to

See those five waves Done and then an ABC structure down and Then this is the area where I would jump In more aggressively um But then we've got the bearish count and Then it's sort of still my my primary Expectation just because the way this Looks looks more like a Bear Flag yeah It doesn't look convincing it's up and Upward sloping Channel not very steep Normally gives a warning about yes we Are heading down quite strongly now this Is going to follow but who knows right I Gave you the key breakout point to the Upside as well so the yellow count is The bearish count In the bearish count we've ideally found Resistance up here yeah that's what we Talked about yesterday in the video we Reached Channel resistance and I said It's an ideal time for Ada Now to turn Around to the downside because we've Reached the 88.7 flip level at 32.8 Cents basically and yes we did react to The downside and this could not be a Third wave to the downside Yeah let me show you so in yellow this Could be the yellow wave 3. can give you A target for the yellow Wave 3 as well That would be the 1.618 extension around 27 cents but what would be confirmation That this is going to work out well Confirmation would be very clearly if we Can break out of this channel to the

Downside okay and that's my update about ADA 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 Thank you

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