Foreign [Music] Video about ADA we continue to be in a Situation here where both counts both Bullish and bearish are entirely Possible for Ada we've now reached a Level from where a digest needs to move Up to maintain a possible bullish wave Count if it drops really any lower than The 30 Cent level the yellow count which Is the bearish count is in full control My primary expectation is anyway the Yellow count is in control I primarily Still look at another low for Ada However to really play that count Um in terms of you know making it work We need to break below that 30 Cent Level Um what could happen and that is just Short-term volatility and pretty very Hard to forecast what could happen is That we get a little bit more of a an Extended move to the upside now because If we look at the indicators especially Let's go to the 4 hour for example just Make it a bit smaller Um I don't know what happened here with the Macd but if you look at the RSI I mean We are fairly low here we are at 40 that Suggests on the four hour chart there is Certainly some short-term upset Potential the macd on the four hour is Also reducing negative momentum really
Yeah so this is also pointing rather Towards the upside again and it Obviously starts on the lower time Frames then we'll move over onto the Eight hour chart the eight hour does the Same thing reduction and negative Momentum at the moment Um and here on the relative strength Index we also quite low to be honest and That rather suggests that downside Potential imminently is rather limited The daily chart is reducing bullish Momentum but the daily chart will be Influenced by the shorter time frame Um indicators so whatever starts on the Hourly moves on to the four hour and the Four hour to the eight hour and so on And um If this if we get some bullish Crossovers on the lower time frames we Might see that on the daily and it will Lead to a stronger recovery I mean I did Say it before here um we are currently At a point here on this chart where a Long trade could be entered with fairly Low risk it's nothing I would personally Trade because I don't have a solid trade Setup I have a possible one two setup Which could result in a Wave 3 but the Fact that the wave 1 was only a leading Diagonal at best and it rather looks Like three wave structure to be honest Which would be bearish but if we can Consider that a leading diagonal then um
It's not high confidence okay however It's low risk in terms of you know we Are now at 30.6 cents if we drop below 30 it probably is going to go down quite Strongly to be honest because we're Losing key support here Um yes there's the 29.5 level left but To be honest if we lose 30 cents it's Probably gonna drop below that and um Yeah I'm talking about low risk in in Terms of you can set the stop loss now Really really tight for a possible long Trade and the reward could be quite High Compared to the risk I mean it could Take this all the way up to around 35.5 Cents yeah So you're maybe gaining five cents or More for a possible what is it half cent Of risk or one set of risk but um still I I wouldn't trade it I'm not convinced This is not a very very clear bullish Pattern it's of course possible as it Usually is when you have a lot of Uncertainty in the market so there is of Course a bullish card it's not high Confidence and as long as we don't Really see a signal that things are Changing to the upside like a break Above the 33 Cent level Um for me the yellow count is still here In in clear control and we're moving Down in five waves head here wave one Down a wave two up wave three down could Take us to around 27 cents Wave 4 up and
Wave 5 down and Um To be honest as well if we zoom in a Little bit more go to the 30 minute Chart The movement that is taking place here Of the low I mean you just need to look at what Ethereum did today Bitcoin Um or yesterday Um this is looking very corrective yeah At the moment three waves to the upside Very corrective structure that would Rather suggest Trend continuation to the Downside you could see that as a some Kind of a bare flag now where You have here some kind of a flagpole or Something like an ascending Channel yeah And I put sloping Channel which would Rather suggest continuation down 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 [Music]