Foreign Video about cardano ADA for me still Here not convincing yet the price action To the upside Um in this recovery here at the moment Even though it is quite good to see that We are recovering across the markets However the recovery has come to a hold We're currently consolidating now that Could indicate we are pushing higher Because we weren't rejected strongly We're only consolidating but the Internals of this move from the lower Here at around 31 cents to the recent High of around 38 they are not Necessarily impulsive they are not Necessarily super bullish so we're going To take a look at that Um overall for Ada of course there is Now the possibility to restart a bullish Wave pattern from the recent low we've Made another low we have come down Really close to my ideal Target of 30 Cents we haven't reached it quite though But okay that's fine I think we've come Close enough with considering the Volatility that is going on in the Market at the moment but We have the chance to restart a bullish Count of course but there is just for me There isn't enough evidence yet yeah Um it still doesn't really convince me At that price action and we talk about Why but I'm happy to be convinced that
It's more bullish but first of all a few Things need to happen so generally my View here at the moment is that we are Still in this move to the downside that Would be a very bearish viewpoint but There are there are a couple of Viewpoints that you can take here so the First point is that this is a wave one Moving up in two we've done away three Down this is a way for oh no not that One second I'll just change that we've Come down in one moved up in two come Down to three three is finished This currently is a way for Um and then we come down in five Now this is a very short wave three that Indicates that wave so wave 5 must not Be longer than Wave 3 because Wave 3 Can't be the shortest one that is the Rule okay that is the rule so in this Scenario if this is the correct one then The fifth wave needs to be quite short Yeah so Let's say Wave 3 was finished let's say Maybe even wave 4 is finished then wave 5 must not drop below 25 cents in this Current scenario of course Wave 4 could Push a bit higher than actually also in This scenario where four can't push Higher if it does then we have to go Into a different scenario that we get More clarity in which scenario we are Because why can it not go higher well Let's see let's see because we've
Already touched the 50 Fibonacci Retracement okay so this can't really go Any higher if it goes above 37 and a Half cents then I will have to Reconsider my view here and we will then Have to talk about the scenario a very So either a very bearish one Or a very or a bullish breakout pattern So let me explain I know it's a bit Complicated but that is what the chart Is like so if we go any higher than the 37 and a half cent level then I would Have to assume Either This Wave 3 was never finished That we're going down really low maybe In the region 15 cents And that this is only a one two setup of The third wave yeah Um in this particular scenario We would say the retracement this is a One then and this is a two and in this Wave two we're currently subdividing in W X Y so we've finished our wave w we Know an X wave and we would come down in Y Um And the reason for that is is that we've So far only seen three waves really Yeah we've seen here an A B C and the Weakness over the last few hours Indicates that well the C wave is Probably finished we're coming down Consolidating in wave X we see three
Waves in wave X we could now see a push Higher in Wave Y Target for that y wave 42 and a half cents the one to one ratio Okay So that's sort of this scenario and then If we have this one too we would after That afterwards come down in the wave Three of the wave three So if we see a clear three wave pattern Here then this will be what is you know This will be what it's like Um And then the the real test and where we Get the clarity then will be the Retracement afterwards because if in the Retracement afterwards if it is actually An impulsive move down and we break We break the 31 Cent level there is Pretty much evidence that we are in the Third wave and we could get into the Lower 20 cent area first Um however if in the retracement down we Are holding support ideally sort of We're holding the 34.2 level Um that wave b or even the wave X low The 35.3 thin level if we're holding That and we are already seeing some Bullish potential evolving then it could Indicate that we already are in a Breakout pattern and that the bearish Viewpoint here doesn't doesn't work out You know Um again which one is going to play out
It's very hard to say what I can tell You that at the moment the Ada chart Doesn't really convince me yet so it Needs to do more to convince me to Switch over to a bullish scenario at the Moment I see the move to the upside here As corrective and one more reason for That is because even I couldn't even say That this year was a wave one this was a Two this was a three this was a four and We get five It would that would only be possible in A diagonal pattern But again also that is less likely and This third wave here if it is a third it Is very short only right so yeah you Know we need to get a bit more clarity At the moment the focus is still down It's nothing where I would predominantly Be long on Um I think there is short-term upside Potential in Wave Y absolutely and the Confirmation for that would be a break Above 37.8 cents I think if we see a Break above 30 uh 37.8 then we can get Into the regional round well Yeah 41 and a half to 42 and a half Cents Okay and that's my update about ADA um Important to mention that we have Yesterday Proudly yeah I'm very proud about that Um we have yesterday launched our Ada Karano MCO stake pool so if you wanna if
You want to delegate to NCO and Basically stake with MCO your Ada and Earn Ada Um then yeah check out the videos in the Description there is a link on how you Can stake or you can delegate your Ada To the MCO stake pool very important we Never get hold of your Ada you don't Send your Ada to anyone it is still in Your wallet yeah you you own the Ada They belong to you they never leave your Wallet But they are delegated to the MCO stake Pool important for transparency we're Not generating any rewards yet it would Require your support please because Um with your support we can grow the Pool to a size where it will generate Rewards we can generate rewards already But below a certain size of the pool Yeah Um you're not really getting the the Blocks created right you're not really Creating the blocks you need a certain Number of delegates or a certain amount Of ADA staked and that only works as a Community so what appreciate your Support with that Um very excited I think soon we already Yeah we're getting closer to the 100 000 Ada now after a day which is great So we're growing and growing which is Good but obviously it needs to grow much Further okay thanks for all your support
I hope you like the update about ADA 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