One analyst warned silver investors about a trap five months ago, and the metal has dropped since then. Now the same analyst has a fresh roadmap that includes one more painful drop before any real recovery. The details of that plan may surprise anyone who expects a quick bounce. Analyst Phantom_Defi, who posts on X as @0xPhantomDefi, says he flagged the $71 level as a bull trap about five months ago. Silver has fallen 31% since then, which puts the price close to the $49 area. He also points to an earlier bull trap at $89. The pattern he describes is two failed rallies, each followed by a steep decline.