I just want to use the little and the absence of any volatility in the crypto market to cover a few of the altcoins that i havent covered for a while avex roon phantom. Now you know um phantom, a lot of people ask for an update by the way, so yeah phantom again continues to be in this wave 2 scenario here after phantom created produced here in october 21, the wave one. It then starts this correction in a wave. A down a wave b up, we took some profit c on this channel in the wave b high and then moved down in a wave c. Remember i was crazy. I was quite crazy when i said that we will not go to a new all time high from here, but that we will in fact go down into the region around 55 60 cents. Here i called out this target area back here and we now even went below it, so i wasnt even bearish enough back then, but yeah. You know it was already um. It was already very unrealistic back then, and we have completed here wave one two three four and were now in the last wave of the wave two, which means there isnt much downside potential left to be honest here, so its following. In the end, the same wave count as many other cryptos by the way. In the last video we talked about the spare flag here: yeah that also broke out to the downside, so again, very nice um as planned yeah, and we have made a new swing low compared to the wave 3 from the 12th of may and honestly, we could Really look at finishing this off.

You know as soon as possible, here um and um yeah. You know at any point. It could now start to move up. There is not much more downside potential left, we already had 23 cents and we made a lower low compared to that wave three, which means the wave five low could be in at any time. What i think where we are yeah. I think we have made here a wave one, a wave two. This here was the wave three. We are now in a wave four and there will be one way: five off the wave five of the wave two left, so one more leg down and that could really complete everything. I find that very exciting, actually um. Why am i quite confident? Well, you know not super confident, but normally when you look at this yeah, you can clearly see that weve started an impulse down here. This is the wave 2 retracement um probably retraced to the 38.2. If i see this correctly, even to the 50 retracement, so thats perfect for wave 2 at 43 cents, yeah um and then the longest wave is the wave three. That is just what it is. So we can count here as well, one two or maybe one two. Well! Okay, so maybe if we, if we label this yeah, just to clear this up, one two: three: four: five: okay, so one two yeah so of this wave three, maybe the wave three isnt complete! Yet you know um.

That means there might be one more move down, then a move up and then a move down yeah. So, however, we are very close to the low very close to the low, and this way five when its finished, this should be the last one. That is how i see this um that we are not finished yet is not only indicated by the elite wave count. I would also say just purely by looking at this pattern here, which is clearly a bearish flag. Now again, they dont need to break to the downside. But if you have an ascending wedge like this after such a downtrend – and we still expect further downside potential, for example for bitcoin um, it just makes sense here to to move once more lower. But bear in mind phantom has moved even below the low of the wave 3 so and it has completed its way, 4 and yellow as well. So honestly, at any point in time, it could technically now start to move up now. It could technically move up at any point, and we dont necessarily need that next wave down it has done what it needs to do. Yes, in the very short term, here, theyre, strictly speaking, another wave down missing or a couple of waves. But you know in in terms of this here its done what it needs to do, but looking at this, this is not a breakout formation. At least it doesnt look like it yet very weak chart little volume um, i think, were going to go down a little bit more and where could we then go down to well? Let us take a look um yeah looking at support levels.

What will be there to protect us here to support us if we really make that next move down and just very clearly look at the 18 cent level here? Support support support, so we can draw a support line here around 18 cents yeah. I think this would be a good target, maybe even a little bit lower its a bit of a range here, because um back in um back in july 21, we came all the way down to 15 cents, so between 15 and 18 that i think that would Be a good reversal point here for for phantom yeah um and if we go below that there isnt much left, you know then youre looking at single digit phantom, so it should ideally move around in this area. That would be ideal. So that is my view about phantom, and then we could from here start to move to new autumn heist but theres a lot of work to do to really get the recovery going and it wont be easy and it will take a while and yeah lets hope. This will all work out.