BITCOIN & FANTOM!! More to GO or Huge BULL TRAP!? [Technical Analysis $BTC $FTM]

We need to talk about Phantom and Bitcoin oh man to Phantom and Bitcoin both coming to a critical level in their respective charge should we be starting to panic should we be worried I’m gonna bring down the key levels in both of the charts where could we be falling to is

There an area we could pick up support as you can see from the charts here Bitcoin producing another red day you’ve got Phantom opening up the day over two percent in the red what is going on guys you’ve seen my video saying look at this moment in time in this current juncture

We are still in an upward Trend but things are starting to get a little bit hairy Bitcoin coming into its EMA ribbon trying to build some strength you can see that in the chart but look what happens when I switch over to the Phantom chart what do you notice you

Notice immediately that Phantom is far further into its EMA ribbon and not only that it’s 4 forming this triangle you can see this support which was holding at around that 42 cents mark this trigger is now being tested to the bottom side so we could be days away

From a potential breakdown and that could give some painful price Targets on Phantom which we’re gonna map out now it doesn’t necessarily mean we think it’s going to go there this is going to depend on bitcoin right it’s gonna need Bitcoin to continue to have days of

Weaknesses for Phantom to play the bear scenario out now one thing we know for sure and we can you know note down on our little notepad when Bitcoin was moving in January Phantom rocketed right and that it for me is the major thing I was looking for what I was looking for

Across my portfolio during that January rally it was a teaser rally right it was a sign of what will come when a bull market ensures and I wanted to look through my portfolio make sure that the ones I have not only I’m happy with them fundamentally happy with the tokenomics

But do they have the attention do they have the pump ability to see it moving when markets are green and you definitely saw all that with Phantom one of the outstanding performers that comes with the other side of the sword now what’s the other side the other side is

When you have a coin which moves so fast when Bitcoin moves fast guess what happens when Bitcoin falls to the downside yep it takes a disproportionate move to the downside as well this is just normal if you’ve moved bigger your retracement is going to be bigger to the

Downside you can have bigger gaps to feel on the way down when you rock it so fast and so hard here like Phantom there will be some painful retracements but for me that’s perfect that gives me more opportunities to buy the dip because my conviction hasn’t folded on Phantom whatsoever speaking of conviction

Faltering if you haven’t watched my video from yesterday I do explain which project which I currently hold today I’m really really worried about in my portfolio and I go give you an update and I’m walking you through my emotions right when is it that it’s okay to sell

What makes me want to sell what’s paper handy what’s losing conviction when is it okay to sell them because I know a lot of new and particularly young Traders and investors they struggle with that so go watch that video you can get my you know literally day-to-day

Insights as the date is coming out I’m sharing with you how my convictions changing so that’s what we’re looking at here in Phantom you’re coming close now to this EMA ribbon breaking and if it does you can immediately see here that the price targets won’t be too fun in

Fact if you wanted to do it as a little kind of price Target here and I’m doing this very rude eventually here but if you’ve made it this far into the video and you someday want to be able to read the markets do technical analysis trade

As we are doing on this channel then perhaps you may want to check out my free technical analysis from scratch course over on skillshare for those who aren’t familiar skillshare is an online education platform you sign up for a nominal amount each month and you get access to a wide variety of different

Courses I personally use it to learn all sorts of things from video editing to financial to using Excel and various other bits and pieces that you may want to learn it’s far better than YouTube on those elements because on YouTube everything is about retention whereas

With a course you can put things in a structured curriculum and that is exactly what I’ve done with my ta course it’s completely free for the first 30 days if you click the link in the description youjizz.uk forward slash ta to take advantage of the TA course let

Me know what you think about it and let’s get back into this video to give you an idea if you break down this triangle you can look at Price targets coming all the way down here right now do I believe we’re gonna get to 18 no absolutely not but that’s what the

Target’s telling me more realistically where I think this can go if we lose our EMA ribbon is first point of call 38 cents right 38 cents around this region 38 39 cents you’ve also got your 200 exponential moving average this blue colored line here at the same space as

This horizontal support you can also see that’s where you Consolidated a little bit uh towards the end of January thereafter I will be looking for support coming all the way down at 30 cents you can see 30 was really important level if you look here when we had that horrible

Day uh well I say horrible but it’s eight percent down day here on the 18th of January in the middle of our run right we started running up and we had a couple of days here where it got painful look where we rotated look where the

Support came from 30 cents okay so this 30 cents Mark here this horizontal is going to be our next support so these are the important levels I’m looking at but first the Bears have to make this lose its EMA ribbon okay so we have to

Keep an eye on this it’s this EMA River let’s bring out the Bollinger band as well because I want to show you what’s going on here you can see we’ve had a move here predictably from the top of the Bollinger band down to the bottom balls came back in created a lower high

And got pushed now back down to the lower end of the Bollinger band low end of the Bollinger band could even create a little bit more pain back down to 41 42 which is obviously where we’re going to want support to come in right if you’re looking at this from a bullish

Stance if you want the move to continue you’ve come and tested this line here once you’ve bounced you’ve come and tested it again you need to bow to create a w pattern break through the 58 cents Mark and work your way back up to 68. that’s the bullish case but in order

For that to happen Bitcoin will have to do the same because if I switch to the exact same chart on bitcoin look where Bitcoin is slightly further ahead of its move not quite towards the bottom of its Bollinger band like Phantom was but it needs to do the same right it needs to

Rotate here you can see bitcoin’s got a high it’s got a low it’s got a higher high and now it needs to create this higher low and go push through that 25 thousand Mark we’ve spoken about this extensively go watch my video over the last couple of days if you want a deep

Break down into why this 25 000 Mark is so important but that’s what needs to happen to keep this move continuing but you can see there is a big gap here still to the downside can the Bears take advantage of this can the Bears push down to that 22 000 Mark which is

Important support for us over at Bitcoin the other thing I wanted to show you is obviously on the weekly chart you notice here that we’re getting a severe bit of pressure from this line we fell here Terra Luna we rallied up to 25 got sent

Back all the way down go back here rally to 25 get sent back down right so what you’ve got to look at here from the weekly time frame is we could be forming an inverse Head and Shoulders pattern now this is gonna you’re gonna have to

Be very very patient on this pattern to play out right this could take weeks for us to come back down Bitcoin will have to create some support around 20 maybe even 19 and then have a couple of weeks of positive again so there’s loads of different scenarios that can play out

Here because we are facing a critical stalemate with the best and it’s no surprise I’ve shouted this before the Bears will be strong here at that 25k Mark and you can see they’re starting this week off on the front foot as well so we’re getting another negative week

So far here printing this is the last day of trading in February as well okay guys so if you take a look at the traditional markets you can see that they’re just inching a little bit positively now here in the pre-market let’s see how they perform throughout

The day but I saw this quote from the CEO of 50 Park Investments I thought it was really good so I share it with you he goes February will go down in history as the month where the market pulled back to digest a very strong rally you

Saw at the end of December into most of January this is a pullback month it’s a rest month and that’s a good as long as support is defended and support holds which is at last week’s load now this is exactly what I’m trying to communicate with you guys we’re in it at an

Important level and it’s okay if we have a pullback if you look at what bitcoin’s achieved here from January you’ve had 21 weeks you’ve had eight percent week you’ve added four percent week and then you’ve had a couple of negative and then we’ve eclipsed it with another 11 week a

Couple of weeks negative as long as the support holds with gonna be okay and if you switch that back down to the daily as long as we can turn around here on the eme ribbon things are good where where things start to get a little bit

Hairy is if we lose this level here right this level here if you take this doji candle low which by the way you can learn more about each others.uk4 ta if you take this doji candle low here is where you do not want to go lower there

That is where we have to have to have to maintain support and not create a lower low if and up until then I’m not panicking there’s no concern to any pullbacks down here at 22 I’ll be nibbling I’ll be nibbling and I want to accumulate my portfolio because we’re

Still in an upward Trend here on the daily on the weekly that’s where you have to pay respect to the Bears and say okay maybe the Bears have a little bit about them and I need to watch out for this but even then they’ve got a lot of

Work to do to push us down and reject us from this weekly EMA ribbon and when they do so they can’t just push us down here and then we take over again because then I just showed you we form an inverse Head and Shoulders pattern so

When they push us down they’ve got to attack all the way back down to 16 000. that’s not gonna be easy for them particularly if we have a good February with good CPI data with evidence that inflation started need to come back down again then January could just in

Hindsight be that month where we just had a little bit of a worrying economic data a little bit of a rest after the pump and now we’re going to get a positive February using the uh a positive March sorry using February data that comes out so coming back to the

Phantom chart to summarize I’m looking for a clear bound here at 42 if the wider markets are looking positive and Phantom can bounce at 42. Great Stuff let’s create a double bottom pattern and let’s go attack that 58 cents Mark again if however we break this triangle to the

Downside then you immediately have to look at 38 cents for support failing that you’re looking further down here where my cursor is at 30 cents and feeling that you’re looking at 24 cents now no need to get to all dumagloom I’m just sharing those levels with you so

You’re prepared so you can predict your buys and get your DCA opportunities ready that’s personally what I’m going to be doing the further we fall here the more I’m gonna DCA and looking at this weekly chart here on Phantom you can see 38 cents is definitely going to be

Interesting support coming deeper put into its EMA ribbon critical moment in the charge for all major cryptos and It All Leads off the pressure that is on bitcoin on that Weekly chart this is an important level of 25 be patient there could be more of a pullback but those

Present more of an opportunity in my opinion to buy the dip and dollar cost average I’m staying patient like I’ve said many many times I’m expecting a lot of volatility and I’m gonna sit there stay pragmatic follow my rules and not get caught into the foam I’m not playing

The game of chasing these crazy all coins right now I’m not playing the game of oh look there’s an Asia pump let me go chase that nope methodical accumulate Eat My Vegan Bitcoin ethereum make sure I’ve got my layer ones make sure I’ve got my layer twos or do I have some data

Oracles build my portfolio as this is the year for accumulating I do not want to get into the next Bull Run look back and say I was so busy messing around with those meme coins all those Asian pum coins that I didn’t buy a bit more

Ethereum I didn’t buy a bit more Bitcoin I didn’t consolidate my portfolio to make sure I’ve got the big hitters ready for the next ball run hope you guys enjoyed this video don’t forget to smash the likes don’t forget to subscribe go watch this video been worried and I’ll

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