The "Red Bull Stratos: Human Freefall from the Edge of Space" will be live streaming Tuesday at around 1:15 pm EST and all eyes will be on Felix Baumgartner and his team as he attempts to break the record for the highest and the fastest jump ever.

The "Red Bull Stratos" will be launched at 1:15 am EST, the team confirmed Tuesday morning. Cameras are placed in the air, on his body and on the ground to record the extreme jump in high definition. The "Red Bull Stratos" mission crew was waiting for winds to decrease ideally to 3 mph to launch the balloon from New Mexico.

At 12:47 pm EST wind conditions improved The balloon was being laid out, Baumgartner was putting on his suit and launch to the edge of space was scheduled for 1:15 EST from Roswell, New Mexico.

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"'ll probably feel the most anxious when I'm trying to sleep in the hours before I start getting ready -- when everything's quiet and it's just me and my thoughts," Baumgartner told Red Bull who is sponsoring the event.

Baumgartner is an experienced skydiver and pilot. An animation on Red Bull's website shows how he will ascend to 120,000 feet above the Earth transported inside a capsule by a balloon.

Once in space, Baugmartner who has to wear a space suit, will exit the capsule and jump to earth. (Watch How a Supersonic Space Jump Looks Like)

The event was pushed to Tuesday due to a cold front. The "Red Bull Stratos" mission informed that they were expecting weather conditions to improve by 11 am MDT (1:00 pm EST).

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(Note: This article has been updated with the latest information)