Foreign Video about Pro Chronos so in the last Video we talked about Um Crow when it was around seven cents I Think and the view was it doesn't really Or it hasn't really done enough to Confirm in any way that the bottom is in Place here so the view is further Downside I think it's currently doing That I think we had here some kind of a Wave 4 within this wave five yeah so you Could argue that here in the wave 5 Itself which could be the last leg down Here let's see if it actually is Alternatively we could say this was a One this was a two this is actually a Three there will be a four and a five so It allows us for one more leg down I Think that's actually getting quite Likely Um but yeah let's just focus on the Shorter time frame here first Um because in this here this sideways Range which started on around well Around the 13th of November If I go now to the one hour shot we Actually see it in a little bit more Detail This made the impression of something Corrective yeah a very very clear you Can actually see that very clear three Wave structure here to the upside Because we had an overlap here between a Possible wave one and the possible wave
Four but because of that overlap it's Basically you're creating a three wave Structure a corrective price structure Or at best a diagonal Um I mean this can still go up from here But it's just not convincing it's just Not convincing I mean it was pretty much Oversold so I guess that's why you're Seeing here quite a long sideways Consolidation but this is nothing where You currently see any kind of impulsive Price structure evolve from Um so surely on the way down here well My view would be in this fifth wave that We've had a one two up here then we came Down in a third wave along third wave Here the fourth wave possibly even as it Triangle and that we're now heading down In the fifth wave of the fifth wave Looking or zooming out a little bit I think in the last video we already Talked about key support levels here for Crow and we were getting quite concerned Because there isn't too much left and we Can just see that those exchange tokens Are just suffering so if you zoom out And the mode like the historical areas Of trade where you had most volume that Was really in the region around six and A half cents Um basically you could argue that's Exactly where we are now where it is so That is sort of the region where if you Drop below that it's probably gonna go
Get very very Um very very difficult to take the whole Chart into account here because there's A bit of a black hole down there Um obviously key support after that There is still some historical volume But you're really getting into difficult Areas where you then look at Um well possible key support in the Range of around two and a half cents so But that is really if you lose that There's nothing left really okay so this Is getting into difficult Um Into a difficult situation now and it's Just in line with other exchange tokens As well well To be honest with ftt because well cool Coin lost as well but in terms of the The token price I think it's still sort Of broadly in line with what other other Coins have lost BNB is actually still Doing quite well so it's mainly like ftt Crow that have been suffering Um a very very strong move down here Which starts to look very impulsive to Be honest which is not a good sign and We're still below the descending trend Line yes we are oversold on The Daily But in the current situation I'd be Extremely careful with indicators like The RSI that's telling you you're Oversold Um because it just keeps dropping as
Long as you are in the downtrend as long As we are below this trend line as long As this sentiment is so bad about these Coins I'd be extremely careful I've Raised concerns about altcoins that drop Below the 88.7 percent flip level before What has Crow done has it dropped below The 88.7 FIB level where we can take a Look at that I'm pretty sure it did I Think we talked about that in the Previous video let me first hide the Vrvp And then we add the fips and what we do Just Start at zero roughly and yeah we have Lost to the 88.7 percent flip level was At around 12 cents it did fight around It here around June it did fight for it But it lost it and it has dropped Basically 50 below that 88.7 percent Flip level um which to be fair a lot of Coins do in their first major bear Market but on the other hand these are This is also the area where thousands of Coins died so just always be aware of That level I've talked about that level First I think back in May for many coins Um I think xrp Iota were some of the First that dropped below it but we've Had a lot of others following it um and I'm not telling you that Crow is going To die just be aware of the risk just be Generally aware of altcoin risk in Current market conditions we don't know
Which other projects will be affected And the trend is currently still down And I think we might actually be looking At something like Um two and a half cents in the worst Case if you look at the volume because Let's be honest if we lose the current Level Um there isn't really much there we just Saw the I mean okay you've got you've Got some substantial support down here Just looking at the sort of spikes and Troughs and um he had around 5.6 cents Yeah and below that this low significant Swing low at around well two and a half Cents so I think we're talking about Five and a half and if you lose that two And a half cents and but that's really If it drops below that then well it's Not gonna end well here probably for for Crow just be careful okay Um keep Alcon exposure limited that's at Least what I'm doing no Financial advice Of course but yeah that's my update About Crow hope you like the update if You it 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