Cardano Outlook

Hey everyone and thanks for jumping back Into the cryptoverse today we're going To talk about cardano and its native Token Ada and we're just going to be Providing a General Market Outlook if You guys like the content make sure you Subscribe to the channel give the video A thumbs up and check out intothe Cryptoverse premium at intothe Cryptoverse decom there's a lot to Discuss with a we want to talk about it On its USD pair its Bitcoin pair and its Ether pair and to see what are the most Like outcomes I will remind you you know My my views on on altcoins in general Again they're not personal it's just What I consider to be the most likely Outcome I could be wrong I've been wrong About things before but I do want to at Least provide my views on it especially Considering that you know we have Maintained a fairly bearish view in General on the altcoin market as a whole For you know a bit over a year and a Half now and most of them are just Continuing to put in new lows Right or sort of scrape at these lows That they've been at for a long time and So what I want to do again it's it's Just an exercise to show you why Throughout bare Market years and preh Having years staying away from the Altcoin market in general often tends to Work out better than yoloing into every

Top just because someone says that you Know it's about to break out okay so the First thing we can say is that ADA has Had a series of lower highs for quite Some time really since going all the way Back to September 2021 it's just been One lower high after another and you Know it certainly brings a lot of people Back in every time we get these rallies But unfortunately it hasn't really led To anything new and what I was what we Were sort of talking about before is That it seems like we are about to enter Into the depression phase the last video I did on Ada we talked about how we're Likely entering into the depression Phase now one of the things to consider Here is the depression phase arguably is Sort of down here in this range below That 23 24 cents level which we are Still technically above so at this point I don't actually even consider this to Be a depression phase I consider it to Be you know fairly normal for all coins I mean if anything this has been a more Moderate drop that we that that AA saw Last cycle but again perhaps there is Some element of diminishing losses but One of the things that I I I think is Important to note here is that ADA is in This sort of this you know bad pattern Where it's putting in these lower highs Showing no ability to get above the Bullmark sport band this Wick here

Brought a lot of people back in this was After the SEC and the Ripple case uh Sort of finalized a lot of people came Back in there and what's fascinating is How It basically retraced this drop right so You know this drop started off at around 0.0 or 379 this Wick went up to 0379 so It I mean it just legitimately retraced This entire drop only to then completely Fade back down to the range lows so the Issue now that ADA is facing is it's Getting squeezed right because there's People that are trying to keep it Supported here at around you know at Around these these prices 24 cents or so But it also is showing no ability to get Back above the bullmark sport band every Every single time it tries you know for The most part over the last two years It's had very little success with the Exception of early 2023 but again you Can see it was fairly shortlived and it Didn't lead to really really anything That substantial so the issue is that as The bull market support B band continues To slowly come down here something's got To give right so what I'm suggesting is That we should know the outcome of this Sooner rather than later right whether The Bears are right whether the Bulls Are right we should know the Outcome likely this year right I mean It's hard to imagine that it'll just

Stay here you know for the rest of the Year and not make a decisive move I Think there will be a decisive move Before the end of the year I think it's going to be down other People think it's going to be up I would Encourage you to go listen to other Views just so you're getting a Well-rounded view on the matter but that Is what I think one of the reasons that I I I still think it's likely to break Down is because when you look at at Things like net liquidity again it has Nothing to do with the fundamentals of Any altcoin but when you just look at at Liquidity I mean look at Ada I mean it Just basically is tracking net liquidity Here you can even see pretty clearly Right you have sort of a peak here and Then a peak there and then the same Thing with Ada right a peak here and a Peak here just like Ada topped out up Here right around the time that net Liquidity was topping Out so to me it should not really be That surprising that altcoins are Performing in this way because net Liquidity is going down now net Liquidity here is being defined as the Balance sheet of various central banks Including from the United States Canada The ECB the UK China Japan Australia New Zealand and we're sub subtracting out The TGA and the reverse repo but again

You can see if we were to if we were to Just simply Overlay um this up here I mean you can See just how closely Ada is tracking That liquidity so a lot of people will Come out and and and you know they'll Sort of pile on the criticism and Whatnot but I I think the hard part for Me is as long as liquidity is being Drained from the cryptoverse why should We expect a different outcome that Doesn't mean that altcoins will never Have their you know sort of their Heyday Again it just means that we're in that Part of the cycle where they tend to Bleed against the US dollar against Bitcoin and so on and so forth so again This goes to show really that Fundamentals of a lot of altcoins are More so attached to excess liquidity Than they are anything else and I know That's not necessarily a popular View But that is I think what is that that View I think is the most likely one to Sort of stand the test of time right and If you were to go look at at uh you know A chart here let me go to Roi after I Want to go to Roi after Peak if I can Find it Um so for for various coins so let's go Look at this one really quick and what I Want to do here is just look at the top 25 but we're going to isolate just just A few of them and I mean it really goes

To show you that you know pick your pick Whatever one you want they're all more Or less a down about the same amount Some of them are down a little bit worse Like polka dot and um Avalanche I Believe is is is still you know Struggling quite a bit um here it is but You can see that doesn't really matter What the the narratives are for all These all these altcoins right they're All down you know more than 90% right at the current time sana's Roi From Peak is 0834 0834 ad is is 0829 Dot 0685 and avax 068 they're all struggling now take a Look at Bitcoin it's way up Here so then where do the oversized Gains come from from the altcoin market It's it's after all that liqu liquidity Comes back and then the the altcoin sort Of close the gap think about how salana Closed this Gap it was mean reversion So Eventually when liquidity comes back you Might expect altcoin sort of mean revert Back up higher and that's where those Oversized gains that a lot of people are Are looking for come from Unfortunately They do not come often times in the Prehab year the altcoin market just Simply gets wrecked so when you go look At Ada USD we have to be just reminded Of the fact that it really is function Of excess liquidity it's not something I Control it's not something you control

It's just something that we can observe So when I look at a to USD and I see That it keeps putting in lower highs and I see that it is trying to hold these Lows I just wonder how much more of this It can take before it it it breaks one Way or the other and again I would Expect it to break down Okay and one of the things to look at Closely is the bullmark sport Bend for Ada which is currently at around 28 Cents to 28.5 cents so again even if we Were to get a pump as long as we don't Get any weekly closes above that then it Doesn't really matter a couple of weeks Ago we got this pump by Ada you know it Was about a 9% move in a single week and A lot of people got excited about that But you can see that we basically just Retrace the entire thing look at the Moves off some of these lows right like This weekly candle here a night 18% move This one here a 12% move this one here a 9% move so these bounces off the lows Are getting weaker right they're getting Weaker and weaker and weaker and we're Also spending an increasing amount of Time at these range lows right over here We just Wicked down to it Wick down to It over here now we're starting to spend A significant amount of time at these Levels so Again I I still think the most likely Direction for this to eventually break

Is down it might be later this month it Could be next month I don't really know But that again is my is my Expectation if you were to look at Ada Bitcoin the Ada Bitcoin chart one of the Things you'll note let me actually pull It up I think I need to click back on it It's currently coming in at 918 Satoshi Now it should come as no surprise that My expectation is for this to break down It's nothing per know with data I just Think the Bitcoin dominance is heading To much higher levels we've talked about That a lot and for a lot of the altcoins It means that they're likely going to Bleed on their on their Bitcoin Valuations now I will say a lot of People are hoping that this trend line Holds I will say that the people that Are the most vocal about this trend line Holding not all of them but some of them Who have who have you know sort of said Some things they were also the same People who a lot of times said we would Never go to 800 SATs in the first place Okay so so if you guys remember what we Talked about earlier this year was that ADA Bitcoin would likely go to 800 Satoshi sometime this summer and and and Really spend the summer between 800 to 1200 SATs and that's basically what we Did right we we basically spent the Summer between 800 SATs we didn't go all The way down to 800 I think we went down

To about 850 then we bounced back up to About almost 1,200 so we basically split The summer between 800 and 12200 Satoshis now we're we're we've been Holding this sort of macro trend line For a little bit But again it it makes me think that this This drop is coming and if you look at Ada USD again you can kind of understand Where it might come from this pattern Right this pattern is something we have Seen before right we've saw it with Bitcoin last cycle where it was Basically just putting in these lower Highs and and trying to hold these range Lows and then eventually broke to the Downside and it was it was a Swift and Decisive move and and it left a lot of Us sort of scratching our heads so when I look at Ada Bitcoin and I look at Ada USD and like well if Ada USD broke down Here let's say Bitcoin rolls over and Goes to like you know uh 23k or Something like that I don't know that Bitcoin can go to 23k without knocking Ada off this support and if Ada gets Knocked off this support then you know Where where's the bottom right you know I don't know so that I think is is sort Of the thing we have to contend with is If Bitcoin drops which I think there's a Good chance that it could in the coming Months especially considering that a lot Of times in prehab years we wreck the

Bulls and the Bears and the the the you Know Bitcoin has has seen six green Months and three red months I think We're probably going to see some more Red months by the way right now Bitcoin Is actually red for October I mean I Don't know what it's going to close but Um I mean if you if you remember sort of Going into this month a lot of people Were only talking about oober oober and It's actually down half a percent right Now and Ada Down this month 3% ethereum is down Almost 7% this month right so this is Certainly I mean at least at this point This is not the month that I think a lot Of people were hoping for so you know Going back to Ada I suspect that it will eventually Break down and if you were to look at Like monthly hik and Asi candles we We've sort of followed this pretty Closely I I'd like to think and we Talked about Back over here sorry back over here we Said that this is likely similar to this Move right and then we said we're likely Going to go into this phase which we're In right now and this phase really Lasted until the end of 2019 to till the End of it so I'm still operating on a Bearish bias for Ada at least through The end of the year and then the Following year we ended up getting a

Recession but that was just sort of a Quick wck down and then we came back up So you you can see over here that ADA USD is following a very similar pattern Right where it sort of tops out um Halfway through the year this time we Topped out a little bit earlier and then Bleeds for the second part of the Year Seems like same thing is more or less Happening and um I you know we still Have a couple of months to go two and a Half months for the rest of the year and And this is a pattern that seems to be Repeating where you know we sort of just Watch a bleed into the end of the year Kind of like what happened in 2022 right Over here 2018 and 2019 both sort of Bled into the end of the year 2022 2023 I think both you know just end up Bleeding into the end of the year just Like I mean 202 2022 already did I think 2023 is basically going to play out in The very a very similar manner where it Just continues to bleed into the end of The year so when you look at adaa Bitcoin I suspect it's going to break Down here now one of the things that you Might actually be interested in is on a Lower time frame what this looks like Because on a lower time frame You could Argue it's already starting that Move like if you were to sort of Connect The Dots here you can kind of see that ADA to USD or sorry Ada to bitcoin low

Higher low higher low break down back Test roll over right so it it kind of Seems like it's in the process of Breaking down it's just a a very slow Process right it's it's an extremely Slow process and in the same way that The bull market support ban I think Could push Ada USD down I think there's A case to be made that ADA Bitcoin could Get pushed down by the bull market Support band right so the bull market Support band for Ada Bitcoin ranges from 1,4 SATs to 1,53 SATs and Ada is Ada Bitcoin is now at 9917 sets so if you Were to sort of extrapolate this it's Not going to take too much longer you Know certainly before the end of the Year I imagine before we're going to Figure out which way this thing breaks Again I expect it to break down other People expected to break up go watch Other other other views just to make Sure you're getting the full picture I'm Sure they have some uh compelling Evidence to suggest otherwise this is Just my view okay now the one thing that We've talked about for a while now as Well is the Ada ether valuation and We've talked a long time about you know Ones that bleed against the blue chips At this point Ada to bitcoin is still Sort of in this prior range even if it Dropped to 400 SATs it's still Technically an oscillator but the issue

Is with adaa ether you know this kind of Seems to be bleeding here now I I want To sort of remain open-minded at this Point because we still haven't seen a Whole lot especially considering that I Think Ethereum is is actually very overvalued Right now with respect to bitcoin and we Already saw this month that ethereum's Already dropped like 6 7% Ada's only Dropped 3% uh therefore Ada ether is Actually up slightly this month um you Know it's up what three and a half 3 . 75% but I think the concerning thing is That if if Ada ether can't get back Above This level over here then it it Has the risk of being classified as a Bleeder now what's interesting is if you Look at last cycle you'll note that we Actually put in a low here in October of 2019 on Ada ether and then sort of put In a lower low in sort of the April 2020 Time frame this low here came in June so You know you could certainly see this Retest this this trend line over here Sometime maybe early 2024 or something Uh and if it does that you might Actually then expect some type of mean Reversion back up to to these levels Okay because even if it is a bleeder Which there's no guarantee that it is But if it is a bleeder you you might Still expect some type of mean reversion So look guys I don't make the rules I'm

Just pointing it out that this is a Series of you know lower highs and lower Lows on its ether pair don't take it up With me Take it up with the data if if the trend Changes we'll you know I'll be the one Of the first people to note it right I Mean I will I will but at this point it Just simply isn't and we have to look at The data and say this is what's going on You know I can't hide behind it I can't Say it's not happening it is happening And and that's the issue is that a lot Of altcoins end up becoming bleeders Against you know especially against Against Bitcoin at this point a to Bitcoin still could drop 50 you know 50% And and um still be within well within The realm of of of Prior the context of History right so something to think About now I want to sort of pivot over To some other things so uh on the Website here what I'm going to do is we Can actually filter this by the Cryptocurrency right so I'm going to Filter it by cardano and we're just Going to take a look at a few of the a Few of the charts so one of them is the Is the Ada dominance right so if you Look at the Ada dominance you can see That it really bottomed out last cycle At around half a percent okay right now It's currently at around 8% or so now at This point it hasn't taken out this low

Over here from late June but there is a Risk of it occurring again the dominance Could stay at this level even if a to USD were to go down if everything goes Down sort of in tandem but that I think Is an interesting metric to look at Because you can see last cycle it sort Of bottomed out at around half a percent In in August of 2019 and it it basically Hugged those lows through q1 of the of The of the having year for Bitcoin so That's I think what you need to look at Here is is does it hold these levels Through q1 of the having year or does it Just simply continue to break down I Don't know the answer to that again this Chart is different than the than the ad USD chart this could stay constant and Ada USD could still break down but if Ada USD breaks down quicker than you Know sort of the the the the market Overall then the dominance could in fact Go lower so this is a chart I think you You know you it's worthwhile to at least Consider it okay monthly returns this is One of the things I've said many many Times that dcing into altcoins and Prehab years is often a Fool's errand Not that they can't go up at all but a Lot of them just go down and if you look At the Ada USD monthly returns this year Does this look like something that has Been worthwhile to DCA again honestly I Know some people that are watching video

Are basically Ada Maxis and they're Looking for any reason to to disagree With me or to or to put the analysis Down but if you are just Completely just if you can be unbiased For a minute right and you look at this Chart this table and pretend it's not Ada pretend it's some other random coin You look at it and you tell me does this Looks like something that was worthwhile To DCA all year long yes we got a 59% Move in in January and ever since then It's mostly just been completely f Right has it worked we can go try it out If we go to the DCA strategies page over Here what we can do is we can look to See exactly how DCA Ada has gone this Year so for instance if you had started Dcing into Ada in January of 2023 and You DCA through Today and let's say you put $100 in a Week you you would have invested $4,100 okay so you would have Accumulated almost 13,000 Ada that's Currently worth a little over $3,000 so despite the fact that you've DCA all year or if you have and it might Feel it might certainly feel like you're Getting a good deal at various points Your portfolio is down 20% right so it Really goes to show that the more Worthwhile thing to do this year would Not have been to do something like that Based on what we can see here it would

Have been to say well you know what it's Often if we're going to DCA anything in Prehab years it typically is better to Do to DCA Bitcoin right because if if The market goes up it's only because Bitcoin went up first right the altcoins Aren't going to lead Bitcoin in the Prehab year typically speaking so again Even if you really believe in the Long-term fundamental value of ADA or Something you could still be sort of Look at the data and say well you know What maybe what I can do is if you're Going to DC into something right DCA a Bitcoin in the prehab year and and again This is sort of just looking at at History I'm not trying to give advice or Anything but like hopefully this sort of Sits well with you for the next cycle The next prehab year but just to say Bitcoin tends to outperform most Altcoins therefore had you DCA Bitcoin Instead you could always convert that Bitcoin to whatever altcoins you want Later you still reserve the right to to You know experience the upside in the Market in case in case Bitcoin goes up By while reserving the right to minimize Your downside risk by not being overly Exposed to the altcoin market okay so Dcing at $100 a week for the LA just in I'm not even including 2022 I'm you know We're looking at 2023 because a lot of People talk about how DCA is the way and

It's certainly true that if you only dc8 At these lows you're not really down 20% But the reality is that a lot of people Don't just do that right they they they Fomo in at these local tops hoping that It's about to explode to the upside only For it to come back down so a DCA Strategy for a this year has not been Worthwhile anyone could basically you Know if if someone were new to the Cryptoverse and they came in and started DC right now they'd be much better off Than someone who started to to do it at The beginning of the year even if you Want to say well what about the staking Rewards that doesn't cover you you know For you know a 20% loss right I mean You're not you're not getting that back On a 20% loss here so something Important to Consider whereas if you DC Bitcoin Instead you would actually be up right You you you you'd be up about 7% this Year if you DC $100 into a Bitcoin every Single week as opposed to Ada again guys You know this is a process that we all Go through right if you're sitting here Thinking like well this you I don't make Any sense whatever we all go through This process where you know you get into The altcoin market you think it's the The the you know the next best thing and And you sort of scoff at Bitcoin because It's you know it's sort of just you know

No one cares about it or something and Then you just keep throwing your money In the altcoin and it just keeps Bleeding back to the US dollar keeps Bleeding back to bitcoin and before you Know it you're like well hell I could Have just put the money in Bitcoin and And at least I would have preserved my Capital by putting it in all these Altcoins a lot of them have just gone Down so an important look it's an Important lesson and I'm not I mean it's It's a lesson that I have learned many Times myself the hard way so the purpose Of these of these videos on Ada over the Last 18 months or so was was to Hopefully prevent some people from Experiencing the same lessons that I Have the hard way so hopefully if you You know sort of looked at the data and And took a you know some cold showers Here and there rather than getting too Aggressive into the altcoin market it Would have saved you considerably I Think my only goal was to help prevent People from making the same mistakes That I have made I I did not have any Any other motive right I just wanted to Help prevent people from making those Same mistakes and I think you know the The proof is in the data and the data Shows that a DCA strategy has not worked This year for Ada now you know you can Come back at me and say well just you

Wait right you know just you wait until It comes back it's not the argument Right I mean it's still down a lot and And I still reserve the right to get Into the altcoin market if and when I Want to but still recognizing that many Of them can still bleed against Bitcoin During a parabolic rally by Bitcoin Because Bitcoin tends to lead the real Bull market Okay so just an important consideration To make one thing that I I I think that Is is maybe a worthwhile way to view This is to look at one over Ada a Bitcoin you can see that one Bitcoin Today will fetch you about 18,000 Ada Okay 108,000 Ada in May one Bitcoin Would have only fetched you 72,000 Ada in November of 2022 one Bitcoin Would have fetched you 48,000 Ada in August of 2021 one Bitcoin would have Fetched you about 17 16 to 17,000 Ada so This is the importance of Bitcoin Dominance you know everyone loves to Make fun of me because I talk about the Bitcoin dominance so much but if you Understood you know how these Bitcoin Dominance Trends move over long periods Of time and you looked at at you know How that could affect altcoins you could Have basically hunkered down in Bitcoin and waited and then you could Have always converted some of that that Bitcoin to you know the altcoin that you

Wanted later on you still reserve the Right to experience the upside in the in The altcoin market or sorry in the Crypto Market by having exposure to Bitcoin but you don't have the same Downside risk that the altcoin market Has giving you so again even if you go Back to the beginning of 2023 even if you went over and said well What if you just YOLO everything in at The beginning of 2023 it still wouldn't Be that bad you know maybe that's true But at the beginning of 2023 one Bitcoin Would have fetched you around 57,000 Ada Today one Bitcoin gets you 108,000 Ada So how can you argue against that right How can you argue against that and say Well look what has you know you you've Taken on more Risk by being in in you Know in in the altcoin this year you Could have taken on less risk and been In Bitcoin and you could have converted And gotten basically twice as much Ada Had you just done it that way so that is The importance of Bitcoin dominance it's Not it doesn't mean I'm a Bitcoin Maxi Or anything like that that's just the Importance of it to recognize you know At there's various phases of the market Cycle where altcoins outperform but There's also phases where altcoins Underperform and in preh having years Most altcoins underperform Bitcoin most Of them do and Ada has been no exception

Right it has been no Exception you have to stick to the data If you if you if you let the narrative You know rule then you can get married To an altcoin and before you know it Right it's taking everything right Um there there's other things we can Look at as well I I think like the Year-to DAT Roi of ADA is is kind of Compelling to look at because you can See there's a lot of different years Here to compare to because you know We've got data all going all the way Back to 2018 but clearly there's one That it's mapping you know following the Closest and that's 2019 so when you look At 2019 and 2023 what's fascinating is We're basically right where we were you Know in in 2019 at this point year-to Date Roi and then you can see it it Still slowly faded into the end of the Year that doesn't mean there can't be Another move up right there could be we Could go back up to you know where we Just were right that's always possible To go back up to 26 Cents or something But the issue is that it it doesn't mean That it's not going to eventually fade As we get further off into you know the End of the year and I think that is the Concern here is how do you know how do You how do we escape this it just seems Like it's following this know this trend Pretty well I think it's likely going to

Follow it into the end of the year Meaning that ADA closes the year below Its yearly open in 2019 Ada closed the Year about 20% below its yearly open Okay the yearly open for Ada this Year is this price it's literally this Price. 246 So 20% below the yearly open where Does that put Ada right it puts it at Around 19 20 about 20 cents or so so if Ada were to follow the year-to DAT Roi Of 2019 which it has been tracking Pretty closely especially for the last Four to five months that puts Ada at Around 20 Cents by the end of the year Which is again it's a 20% drop it's 20% Below the yearly open which is what Which is what it did in 2019 okay so you Got to consider this stuff right and and The people that you know the people that Sort of poke fun I mean they they were Doing it all year long at every at every Lower high and and I I still put forth This idea of how has that view been Right you know how has it been right and And what would convince them to think Otherwise you know you show them the a Of Bitcoin valuation you show them how You know being in Bitcoin was a safer Play you show them that dcing the Altcoin during the prehab year has not Worked out and it didn't work out last Cycle either I mean if you held it long Enough sure you can say that all right

Well fine it it eventually worked out But that's not the point right investing Is it timing is everything right timing Is everything if you could have doubled Up your Ada or tripled up your adaa just By sitting in Bitcoin for a year and a Half why is that not worthwhile you know And just because and just because Something happened a certain way last Cycle doesn't mean that it has to happen This cycle but that is the point and Last cycle even with Ada because I dc8 At a last cycle starting here starting In Q3 of 2018 that's where I started last cycle And you know if you if I had a YouTube Channel in in 2018 you would have noted That I I would have started dcing Ada in In Q3 of 2018 I saw this pretty massive Drop I saw it go up for the first half Of the pre having year I saw it Completely retrace put in a new low in The recession and you know here I was Thinking I was a genius dcing it Throughout this entire phase only to Note that I could have just been sitting In cash ignored all the volatility and Then just gone in when we got this Capitulation candle over here into a Recession now again had we not gotten That maybe you know you could have Argued that uh this would have been Better off but I would still contend That even waiting until the end of the

Prehab year right December 2019 would Have been pretty good right I mean there Was a slightly lower price December 2018 But you know sitting in Bitcoin that Year as opposed to Ada would have would Have worked out really really well right Because in the prehab year of 2019 what You'll see is that going into 2019 one You know one bitco coin would have Fetched you around 83,000 Ada but then By the end of 2019 one Bitcoin fetched You approximately 210,000 Ada right so The point is you could have sat in Bitcoin like like in in 2018 and or in 2019 while it's true that I you know I Dc8 Ada throughout this entire phase I Could have sat in Bitcoin and then Doubled up my Ada just by sitting in Something less risky right so I mean it Doesn't mean that a DCA strategy for These altcoins can't eventually work if Liquidity comes back and that altcoin Doesn't become a relic but if you could Have doubled or tripled up your your Altcoin just by sitting in Bitcoin Throughout the prehab year I would think That would be worthwhile right that's my Own personal opinion at this point you Know we're pretty far into the prehab Year I'm not offering Financial advice I Mean if you know at this point the the You know the longer that people have Waited the riskier it becomes because Eventually liquidity comes back to the

Market and then the altcoin start to out Perform I don't think liquidity is Knocking on the door just yet but this Is the this is the issue is that a lot Of these altcoins just sort of bleed Through the prehab year on their Bitcoin Pairs and you know I still think that ADA has has this issue on its Bitcoin Pair where it very well could bleed into The end of the year okay um so that's What I would that's what what I would More or less be looking at right now if It tops out here right if it if it tops Out here and does does not get that move Right you can see over here it topped Out at these levels and it sort of just Hugged that level for a while if it Holds 800 sets you know through q1 of of 2024 then you could make the argument That that 800 sets could Mark the low But it's just hard for me to believe That's the most likely outcome right now Considering where Ada USD is and and how It seems like it's it's just easily Could break to the down side if Bitcoin Just simply sneezes you know by a couple Thousand dollars like how does Bitcoin Go down 2 or 3K without knocking Ada Below the support and if Ada breaks Support that it's been trying to hold All year where's the Bottom right so that again that's sort Of the the issue that that ADA faces is Just not is really not knowing you know

Exactly where that low could Be I think we'll wrap it up there um you Know there's a lot of other charts on Here and again you can get and these are All Ada charts right I mean they're I Mean the thumbnails are not they're for Bitcoin but you can you can actually Filter this by by cardano and go through And look at a lot of these charts and You know see what's going on I mean look At this one draw down from alltime High it's a brutal cycle it's a brutal Cycle we're wrapp it up there guys thank You guys for tuning in make sure you Subscribe give the video a thumbs up and I'll see you guys next time bye

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