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] Video about ADA the drama continues here In this sideways range I mean you could Argue that we really have been in this Range since the 21st of November now so It's getting getting really really Boring no movement above 33 cents since Then and it continues to go up and down In this region there is of course a Bullish count and a bearish count Because we've made a new low Um that was anticipated around the 30 Cent Mark so we hit Target whenever in The current larger context we make a new Low we need to be watching we need to be Watching for Um lows yeah we need to be watching if An Impulse is created and if the trend Could be changing if the trend is Changing and the market jumps 10 15 a Lot of people will panic I can only encourage you not to panic Because let's be honest a Bitcoin and Other cryptos aren't gonna go to new All-time highs from here straight Without any significant retracements There will always be another trade there Will always be another entry opportunity I'm rather a fan of waiting for Confirmation because we have dropped Down so much and we've had so many fake Out rallies that we really really need To be careful I mean the best

Confirmation is that you can get that a Low has indeed been made is a five wave Move up a three wave move down an Impulse to the upside a correction to The downside which we have here yeah we Have five waves to the upside And three waves down so you will ask you Will ask why why is my expectation still Another low because that is my primary Expectation there is a bullish scenario From here because the market can Certainly Rally from here we've pulled Back a lot into support and we have some Yeah possible signs that we could be Rallying but it's not high confidence But exactly because of that there is a Bullish count because you need to be Aware what the market would need to do To fulfill a breakout scenario primary Expectation is still to the downside and Why why is it even though we have five Waves up three waves down because the Move to the upside here can be at Best In in the best case yeah I would have to I would count this as a so-called Leading diagonal these are very Unreliable patterns they could easily be Counted as an ABC as well or wxy so a Corrective pattern Um and in this move to the downside we Came down a little bit too low we did Not invalidate the bullish count but Normally in any retracement of a wave 2 You want to avoid going below the 78.6

FIB level now okay we didn't really Break it we broke it only briefly we Came down to the 88.7 flip level however Um we came still down to basically the Maximum we should do and combined with a Leading diagonal and then a more than Ideal retracement for a wave two It just doesn't give a lot of confidence I hope that makes sense I mean I'm Repeating myself in these videos Um because I know a lot of people are Waiting for daily Ada updates but I Can't really tell you anymore the the Scenario for me is still one more load Now I could be wrong but Ada could make A new high from here and that's fine but At least if it does do that if it does Make a new high and if we create this Five wave structure at least that would Be a proper signal that things are Changing here yeah we need those five if We have a leading diagonal and a very Strong retracement in a wave two I'd Rather want to see those five waves Complete here of the higher degree to Get confidence that the trend has Changed and then there's no reason to Feel more Panic it's just a matter of Waiting for the ABC correction which Follows and if this ABC correction Becomes an Impulse it makes a new low Then it's great because then The test of a bullish count failed and We're making a new low so there's no

Reason to fomo and even if we and even If the test is successful so we make These five waves to the upside come down In three waves then this would provide Another usually more attractive entry Point Um because let's say the market suddenly Rallies to 38 39 40 cents do I need to Get 41 no because usually then you will That is exactly when you get your ABC Correction A lot of people who bought The top then will sell at the bottom and Then when we've got this larger one two Setup in the wave three a lot of people Will jump onto the fomo train because They got faked out because they saw it At the top they um no they bought at the Top they sold down here and that is when The market starts to move and that's the Third wave the fomo wave when a lot of People then get panicked and really jump Onto the onto the train again Um yeah the situation here continues to Be difficult uh the bullish Hound Certainly possible I showed you the Detailed County for the for the Bulls uh The wave one to the upside here the wave Two down in a w x y pattern that's Certainly possible and then we could say Okay yesterday due to CPI we had quite a Strong jump Um as suggested yesterday this could This this would have to be the low of The wave too

Which we marked here on Tuesday because If it is not at the low of the Wave 2 Then it's probably going to fail Straight away and we get into a direct Sell-off Um we then came down in what I would Believe now is ABC ABC yeah Um hit Wave 2 support and we could now Be moving up in wave three as per the Bullish count again not high confidence But to to give us some evidence that We've uh three has started here we would Need to break above the B wave high That's the first evidence 31.5 cents and Then the break of the wave one will give Us further Evidence 31.9 cents then we Could certainly rally to that 32.8 Resistance and would ideally need to Push higher because the ideal Target for This third wave would be Um 33.8 cents that would be ideal and then We can take it from there and in the Next step we would then have to break Out of the channel and then we can be a Bit more confident in a bullish account Because at the moment for me the bearish Count is still primary And the bearish count would look at Would look like this a wave one to the Downside here to the low of the 22nd of November then we retraced in three waves In a wave two and we're now in this Third wave to the downside into a target

Range around 26 27 cents then there Should be a four and a five within this Wave three we've got sub waves so My understanding at the moment would be That we let me just do that that we Moved down in a wave one of three we Retraced Possibly are still retracing here in a Wave 2 then there should be a three four Five and maybe we'll even go down lower Than 26 27 cents that depends on how Much we really retrace but in terms of Retracements for the Wave 2 we would Ideally Expect the price to retrace into the Current region between the 61.8 percent FIB level and the 78.6 flip level that Is going all the way up to 32.3 cents it Should not go above that if it goes Above 32.3 cents that would already make My assumption the bearish count a little Bit less likely because it retraces a Little bit too much so yeah we continue To be in this sort of difficult Situation nothing that I would think is Very tradable we don't have a very clear Setup we have two counts they are both Not high confidence Um because the market is at the moment Just trolling sideways so we just need To wait for first proper impulse To give us a a clear Direction here but I'll keep you updated of course about The latest development so I hope you

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