# Yellow leaves and falling buds are usually caused by moisture issues, but often it's not just overwatering - it's water sitting stagnant in the substrate. Orchids grow in bark, not soil, and it needs to dry out between waterings. If the saucer is constantly wet or water starts pooling in the pot when you water, the roots suffocate and rot, which is why the leaves turn yellow and buds drop.
First thing - check how you're watering. The best method is to submerge the pot in a bowl of water for a couple of minutes so the bark soaks evenly, then let the water drain completely. After that, the pot should sit somewhere the excess water won't collect in the saucer. And most importantly: don't water on a fixed schedule like once a week. Only water when the bark is completely dry - that could be ten days, it depends on the humidity in your home and the temperature.
Here's a tip: put a small glass of water next to your orchid. As it evaporates, it'll increase the air humidity - the leaves will stop drying out and the buds won't drop. Meanwhile, the substrate itself stays drier, which is perfect for phalaenopsis. If the leaves have already turned very yellow, trim them off - they won't recover anyway, and the plant will just waste energy on them.