Hey guys all in crypto here and welcome back, ladies and gentlemen for another youtube video. I hope everybody is having a fantastic week so far today, we’re going to dive right into cardano guys and we’re going to be focusing more on the short term time frames and i’m going to be doing something very interesting. You guys know that we follow something called the elliott wave theory and ultimately, we think that cardano is about to embark on its fifth and final wave of this theory that is going to take us towards that 7.50 mark all the way to 10. We’Ve shown you a number of reasons why we think this guys, what i’m going to do is i’m going to show you i’m going to overlay the one wave, the two wave and the three wave onto today’s current um, where we are because i believe that we Are setting up for an absolute explosion for cardano, you guys know, and we kept you up to date before we had broken out of this falling wedge.
We said: falling wedges are typically a reversal structure and ultimately lead to a recovery they’re a reversal kind of pattern. Uh, if we take a look at uh, uh sort of two wave, this was your one way of going into your two wave. You can see. We also broke out of our falling wedge and one thing: you’ll notice, and it’s typical of what we’re doing today and is important to remember, is when you break out you, don’t necessarily just kind of you know, break out and keep going. You have to kind of reclaim ground and kind of claw your way out of the pits.
If you will, we know that was certainly true from our two wave and ultimately guys we are setting up in the exact way that we said we said you were going to adhere to this ema before then breaking from it and getting overextended like your third wave. So the first thing that i want to do guys. I want to switch us to a daily time frame. I want to zoom out and i’m going to show you this right off the bat and then we’re going to talk about the kind of uh in more of an immediate terms on the four hourly chart, because people get people get very, very worried. You know monday is a new sunday.
We seem to sell off on on a on a monday now and kind of start of the week before then continuing on uh upwards towards the end, and we think it’s going to play in a similar way. So what i want to do straight off the bat, ladies and gentlemen, is um. I want to show you this, so let’s take our one wave all the way up to our three wave and then what i want to do is i want to lay it over. Today’S current structure, just to show you how similar what we’re playing out in right now is to what we’ve already done, because you guys know – and we i couldn’t be more confident in what i’m saying, i’m going to show you a number of confirming factors here. Just remember, i’m not a financial advisor, and this is absolutely not financial advice guys, but i believe this i believe this is what’s to come and what i want to do now is.
I want to take us out of that, and i want to show you that we are. You know this was obviously our one wave structure into the two wave one wave structure into your two wave following it literally perfectly guys you come up, you make your kind of local high and then you continue in a downtrend um. You continue to make lower lows and lower highs like this structure here. This is this is the what we’re talking about um and ultimately, you break out eventually, one day before then starting the recovery, and that is exactly how this fourth wave, which we believe is bottomed out, is playing out, and this is what you’re going to do guys. You’Re going to come up, you’re going to retest and you’re going to climb your way, you’re, going to claw your way through these resistance levels, flip them as support and continue on towards the end of this year.
When i believe things are going to get parabolic in this boron, i hope you guys can see that it even somewhat matches up with uh. I mean this has got the price well up at 28. We think round about sort of 7.50 to 10 is where you’re gon na top out your third wave in elliott. Wave theory is typically your biggest one um.
Your first wave is typically your smallest and your third way your fifth wave can be usually bigger than your first, but between the kind of first and third, unless it’s the commodities market, which is usually the fifth wave which is bigger, the traditional markets, usually the third Wave, we are super super stoked guys. We have a number of confirming factors of why we think this. Let me just switch to the weekly we’ve shown you this look at your rsi guys. You come down to the same place where you finished off your two wave same place. You are at now and if you look at the stock, rsi you’ve got that bullish crash.
We said all this was coming on this channel guys i i am, although i can’t advise anybody financially, i am i am personally taking this bet um and i’m very confident with it. I could be wrong. Let me stress that there’s always that element, you can never really be 100 certain about anything in life um, and you know there is that possibility that i’m wrong, but ultimately i don’t think so guys. I do believe this is going to be a very fruitful year and this dip that we’ve just currently gone through for cardano is um, essentially perhaps presented one of the best buying opportunities that this year into the future. Um, has you know, we’ve been accumulating and on this channel coming out and telling you every single day we’re accumulating we’re buying.
We like this setup and ultimately you know when we look at the crypto space as a whole, a measly 1.7 trillion 1.57 trillion dollars. We think there is exponential room for growth here to the double-digit trillions, perhaps into the hundreds of trillions in the future. That’S where we think this is going guys um now, in regards to the recent price action that we are seeing uh.
Let me just point out as well look at the volume profile it is just non-existent, it really is just absolutely non-existent. This is the lowest volume um, i believe you’ve had for cardano uh. You know in a long time, if not the lowest in this period, that’s because you’re in the summer doldrums you’ve got to remember people don’t want to be trading in this time. They don’t want to be um. Looking at charts, they’ve been locked up for two years.
They’Ve been let out and told they can have a bit of freedom right or wrongly, we’re not going to get into that debate on this channel, and even though i do feel very strongly what in in one direction, um and essentially, they they’re. Taking advantage of this. They want to go out and enjoy themselves, they don’t want to be in trading and kind of you know placing investments um and ultimately, this will end. I think this month, you’re going to sort of chop around you’re going to maybe reclaim but generally trend upwards. Even if it’s not with any kind of serious magnitude, you’re going to claim these resistance levels and ultimately you are going to wait september, i think things are really going to take off.
I think smart contracts are going to be released roundabout. Then you know we’re hoping the end of the month into september. Things are looking good and the price is literally just following bitcoin. We know that and we’ve done plenty of analysis on bitcoin leading the market and then bigger altcoins kind of following we knew a selloff was coming. We told you a selloff was coming for bitcoin.
We said you don’t have this many green candles, it’s not the most technical of analysis. Um. You don’t have this many green candles without a pullback, that’s healthier! You have made a higher high on both bitcoin ethereum did the same thing it just lags behind. You can see that’s true.
This on kraken seems to be a red candle, but on other exchanges these were all green, um, total healthy sell-off. You have made a higher high here. You also made a higher high for bitcoin. You didn’t really make a higher high for card. I know guys um unless you want to count some of these, as highs we’d like to have seen a bit more, but ultimately it’s just lagging behind and you are going to get what we believe is coming for.
The rest of the year, you know we think these are similar. Even your volume profiles, look how your volume goes on your two wave. Fourth wave into your fifth, you know everything is lining up guys and the overall market we think is recovering. We think bitcoin is on on its recovery sort of phase um, really strong support in this level for bitcoin uh and the overall crypto space. It really shows that people are willing to buy at these prices and that’s the floor.
Uh. You can see you touch this. This level a number of occasions and you’ve also got a real neckline here um. We did cover peter brand kind of calling for this as a head and shoulders, and we said it’s not gon na you’re, not gon na sell off 90. That’S just nonsense.
Um! I’M not dissing the individual. I just think that that was uh, probably a shout to get publicity um, which you know. I don’t really understand it. Um he’s obviously not a cardano fan or a holder, or maybe he’s looking to be, maybe he’s hoping for a 90 sell-off.
So that’s really where we’re at we’re in the summer doldrums guys. We think the overall market is recovering. A pullback is absolutely needed, necessary and part of this part of us climbing out of these things, you are still in these uh sort of low volume periods. You can see it’s not just. I don’t know across the board, guys look at the look at the volume.
It’S very very low uh and ultimately you know we covered meld. I don’t know whether the meld video is going to be coming out um earlier than this one or later i’ll decide a bit later on, but that is just one of the many dapps applications building on top of cardona and we’re very very excited for the future. You know we covered things on world mobile and world mobile actually commented on one of our videos, which we’re stoked about and we’re very, very excited for what’s to come, and ultimately i think that this is what’s to come guys. You are gon na. Essentially, you know we took your um, i’m not sure.
What’S happened there, okay, that’s disappeared. We can do it again. For you for argument say we took the one wave up to the three wave and we did this. We overlaid it and look how perfectly these align they’re not going to look exactly the same guys um, but the the the kind of trend. The kind of pattern is very similar.
You know as long as they rhyme we’re all fine um. You know, and you come up – you make lower lows before then breaking out dealing to the cma before you then start to get overextended again. That is what we believe is to come. We think your ema is going to do this along with you, you’re going to the ema is going to go like that, and the price is going to go like this very, very excited guys. I just couldn’t help myself, but share this with you.
We we listened to charles yesterday and spoke about a number of things like how adoption he believes we’re going to get to a billion users. That brings a huge um sort of monetary value with it uh. So we are super super stoked hope everybody is doing all right out there. I know i can imagine how fed up everybody is um, because this is the kind of chart you’ve been at these levels for a long time. So i can imagine how fed up you are you, everyone kind of got their hopes up and then we kind of sold straight back down really as a result of bitcoin selling off and the overall crypto market sentiment, not a reflection of cardona and its merit.
This is a and charles also spoke about running countries. I believe countries will run on cardano, not something like the united states or the uk, but certainly smaller countries they’re very um, heavily involved with some of the countries within africa. I’M glad when i make a video. I mention africa. People stopped telling me that africa isn’t a country, i’m very, very aware of that um.
You know i’m aware that it’s a continent with countries in it. I think africa is the you know anyway, that’s enough about africa, but that what they’re doing over there is truly amazing, amazing and i’m not just from a monetary standpoint but from a moral standpoint. All for um helping to bring equality is not the right word. Um, an extra level of financial security to the people that need it. The most and africa is definitely a case study and an area um.
I think the poorest continent in the world that could do with you know this technology and the benefits associated with it, and it could actually end up in the future where they have the underlying protocol and financial system that runs their countries is better than the ones In the us and the uk, which largely haven’t innovated for years i mean the banking sector is about as stagnant as it gets um. So that’s enough of me, rambling on um. You guys know i like to ramble um. We think that you are going to keep trending upwards. We can’t see this people are worried because they’re looking at this and they’re going, oh wow, this just looks like we’re going to roll over again bitcoin and ethereum paint a completely different story, and ultimately the market really follows this.
All coins follow the queen, the queen crypto and the king, crypto um, so very excited for us to come guys. I just thought that was interesting. Go and do it yourself get the charts. Um come over here on trading view and click bar pattern and overlay, and you can see that they’re following the same pattern, and this is what we’re expecting. We think this bull market is far from done.
We really get that from looking at this market cap and how insignificant it is in the grand scheme of things. That is all i have for you in this video. Ladies and gentlemen, i am going to love and leave you to your tuesdays. Tuesdays is a bit of a boring day. Hopefully i’ll see you all in the next video if you enjoyed the content like it was appreciated.
So is a comment and i look forward to seeing each and every one of you in the next youtube video thanks a lot for watching guys.
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