Foreign The overall cardano chart hasn't really Changed since the last video just have To make one small adaption or adjustment To the overall wave count but overall Here it is still the view at the moment Here until Ada proves something more Bullish that we will make here another Low that is absolutely possible remember Um I think it was a few weeks ago when We talked about this Elliott wave Triangle that broke to the downside that Was at the time expected we did expect a Move to the downside here based on this Triangle Um we had actually just purely based on The triangle a target of around 15 cent Which is or at the time seemed Unrealistic given the latest Developments and the overall Chart structure it is certainly possible Um but we also need to be aware that Various interpretations here are Possible so and and they are all sort of I would say or they're all possible Right they're all possible the thing is That ADA made a new low and that's Always when we then need to be on a Lookout for bullish wave patterns Because any low could be the last one And if we make new lows Ada are generally the charts the market Has a chance to create a new Foundation To new all-time highs now this year as
You will remember wasn't very convincing I gave it a chance but it failed but This was not a very convincing pattern We always try to find patterns which Look really good Um here this move up does look Corrective at the moment so it's not Really a strong evidence yet that we Have bottomed we could have but then Because there is not really we can't Really put much confidence into this Pattern here which is moved up since the Low of 31 cents Um we want to see more evidence we want To see five waves to the upside and we Want to see an important level break so At the moment the view is here and that We are in this five wave pattern to the Downside still and the the idea is that What we're currently doing Um Is probably a one two setup and we would Come down next in a way of three or Three and there will be a four three and A five of three to finish off this White Wave three and then there will be a wave Four Up and Away five down Um this is for me one of the most likely Patterns however in this pattern In this pattern we should not move Above one important level that I'm going To tell you so we should not move above The 41.1 Cent level Um so that means in this wave too so if
We consider this another one two setup Here in this Wave 2 we should stay below That level because it's a 78.6 retrace And that is the level that normally a Wave 2 wouldn't break yeah of course They can for a short period but Generally when it's breaking that for a Longer period it's not valid anymore Um but it's valid but it's unlikely to Play out so This is the key level that I'm watching Out for that means short-term upside is Still expected based on this pattern at Wxy And then this is sort of the area here Around the 41 Cent level that will be a Key decision point Because it's again it's the 78.6 Fibonacci retracement and if we get Above that level we have to consider Something more bullish and I would then Probably have to count it as some kind Of an Impulse yeah at the moment this to Me looks very corrective what's Currently moving up here but the move Down But the move down looks also corrective So what does that leave us that leaves Us Um a possible larger corrective pattern That's playing out here in a w x y Scenario so that is exactly what we Talked about in the previous video but Um I just had to move the wave X down
That is the Um well that's possible because this Move down still has a corrective let's Say appearance yeah Um three waves up to the downside here You could say okay I can count one two Three four five The problem though is that we have a lot Of overlaps here and that makes the Corrective all of these waves have Overlapped and that creates this all This sort of corrective appearance and That makes it quite likely to see Another push in the Wave Y to the upside And again this would be constrained by 41 cents and if we get above that we Have to consider something more bullish However on the flip side if we now I Mean a move below the wave B would Already be quite a good indication we're Actually coming down lower and the Support is not going to hold but Generally if we look at the fips from That way around Um it could theoretically come down to 32.4 cents so next support is 33 and a Half yeah and 32.4 So we had a support here now right now At 34.3 that is the 50 retracement that They told so far then we have the 33 and A half cent level and the 32.4 At the latest at the 32.4 it should turn Around otherwise it's probably not going To hold and we have an Impulse to the
Downside Um This Wave Y as I said Target 41 cents And then we have an idea of where it's Heading yeah that's my update about ADA Generally the view is still down but Probably with some short-term upset First and then down and if we break Above 41 we have to consider something More bullish okay that's my update about ADA generally um I try to promote here The more crypto online staking pool a Little bit so we now have our own Um Ada stake pool you can delegate to That stake pool to earn passive Ada at The moment it's not generating rewards Yet it was only launched yesterday so it Needs typically a few weeks to to get Enough Ada delegated so it generates Rewards if you're interested and well if You want to support more crypto online You can delegate to that pool Um in the video description there are Two videos on how to delegate Ada to a Staking pool and also how to delegate Ada specifically to the MCO pool as I Said no rewards yet until we get enough Ada in that would typically be the case After a few weeks I would say with Nearly we're nearly there at 100K Maybe We already have the 100 000 Ada Delegated tomorrow Um let's see but it's going up every day Now so yeah it's very exciting looking
Forward to supporting the Ada or the Cadana network and if you want to Support the MCO generally the MCO Channel and the MCO State Pool take a Look at the Um take a look at the staking pool and The videos in the description and Probably in a few weeks we are going to Generate rewards for you as well okay And this is 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 Thank you