Foreign [Music] Video about Phantom FTM had a lot of Requests Um because Phantom shows a few green Candles here yeah like other cryptos as Well at the moment there are a few yeah Nice and green days that we've now had And that always triggers the interest of Many investors and Traders and there are Many requests so let's take a look at it Overall from a you know higher time Frame point of view My view is still that phantom Um could be In a so-called one two setup here my View is still that from a higher you Know from a higher level point of view Phantom is still in a one two setup here That this move up was a wave one into November 21 we then came down with a Moved up in a b wave I remember that at The time everybody thought we'll get new All-time highs my view has always been That this is just a b wave which would Result in a further sell-off which Happened I think originally I expected Phantom to get into the one dollar Region but it came down obviously much Much more And we're now at around 25 cents and This c-wave needs to end soon or we have To go to the higher level wave count and Um see the whole movement from the from
The beginning basically as a wave one Which is possible as well but um that Imminent one two setup then would be Invalidated because this one two one Second This one too is only valid as long as We're holding support here at 15 cents so we should not drop below 15 Cents if we do then we can really look At prices here all the way down to Single digits okay for Phantom so just Be aware of that Um the chart has already dropped so much That it is not in a really good position Anymore So it's something that I'm personally Not too interested in because we are Basically way below the 88.7 FIB level Um and it doesn't really matter where I Start drawing the fips In any scenario we are below the 88.7 Flip level here as well so 41 cents and We broke below it retest it from below That is not a sign of strength and we Continue to sell off we have a few green Candles but do you really think that This looks like a breakout I mean Everything needs to start somewhere but At the moment Um all we're doing here is making lower Lows and lower highs still right so I'm Not too excited about this I must be Honest I've just seen enough of this To know that
It is not necessarily A breakout okay Um there is just Some short-term upside because this Could very well be from an elite wave Point of view and that would be until Proven otherwise yeah because of the Chart structure My view is that from this Wave 4 high Which was printed on the 13th of August We moved down in what I would count as a Wave one We are now moving up in a wave two yes Surely this couldn't go higher no Problem but we will talk about the Resistances here as well then there Should be a wave three down away four Up And Away five down so hopefully not into The negative Um but this is how I Primarily See this In a way five yeah Um For this wave two here There are a few resistances which are of Relevance so let's draw the Fips here so we have now reached the 38.2 percent flip level that's basically For a wave 2 the first level where you Would ideally expect a turnaround down So this is an ideal level but primarily I would expect higher prices we've got The 50 level then that's at 29 cents I think we should get there looking at
Um these key resistances though it will Be a tough one to break Then we've got the most relevant one the 61.8 FIB level Also structural resistance here exactly At this level And then we've got the 36.4 Cent level Um these are all levels that 40 Wave 2 Are likely It is really only if we get above that 78.6 FIB level at 36 Cents that I would Consider something different yeah I Would consider something more bullish Than possibly Um but at the moment I don't because I Just haven't seen enough bullishness Here this is just purely In my opinion at the moment a corrective Rally to the upside yeah what would a Bullish count look like because this is Of course possible so the bullish count Would suggest that we have indeed found A low here and we are now moving up in a One two three so there is not much to um There isn't not much has happened that Would allow me to do a wave count here But if I go to the one hour chart I would have to say that we had here Most likely A wave one and a leading diagonal here Wave two One two three four five so probably hear The wave three then away four and away Five which could be finished so
Basically a wave one complete But then so the blue count is the Bullish count yeah this would be again a Wave one and then there should be a wave Two to the downside so One two three four five is sort of the Count the bullish count yeah And um this move could be nearly done Here as I said it could still push a bit Higher probably hit to the 50 flip level Or the 61.8 I gave you the levels just Now Um but then I would look at Wave 2 Retracement and you know we've got five Waves up so it can be counted like that It can be counted like that Um which doesn't mean it is necessarily The break card but it can be counted Like that so be aware and I would I Would personally let this move play out Wait for the retracement and if we make A higher low yeah and I will be able to Calculate some support levels for you But if we make higher low then this Might be a possible long trade for Trading Wave 3 to the upside so let's Say Okay maybe we topped already I have to Base it on something right So let's say we topped the key support Area for a wave 2 here would be between The 50 and the 78.6 FIP level So here by the way I need to make that Blue just to highlight that the let's
Say bullish count is blue Um and the key support area here would Be between 18.5 cents and 21.3 and if we Drop below the 78.6 FIB level here at 18.5 cents then it's most likely not Going to work out bullish and we are Following the yellow count to the Downside so in summary it's not very Convincing yet there is a potential this Could be a bullish count but Really any count could be bullish who Can make any count bullish the question Is just you know what is the most likely One here I would want to see Five waves up yeah three waves down and Then carry on to really confirm that the Bottom is in place and when we've got These five waves done then the ABC down And we hold support that is when we can Really talk about you know low might Really really be in for Phantom okay and That's my update about um Phantom 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 [Music] Thank you