JST/USD - Trons new JST coin gets hot after added to exchanges
JST coin started out at .02, and we can see a Fibonacci Rise of the coin. It went up to .06, doubling. From there, went down to .045 - at which point it drove all the way up to .10! On some exchanges it hit .12 - the numbers were a different FIB sequence (HBTC Exchange - .02 up to .04, down to .03 - up to .12 - down to .06 (you get it))
Wave 1 - up 100%
Wave 2 - Corrected down to the Fibonacci Line of .50 - Were off to a good start!
Wave 3 - Up 1.68 - What a run!
Wave 4 - Down to .382
Wave 5 - WE SHALL SEE! Potentially just back up to .10, .11, or all the way up to .15
We can see the 5th wave starting to dismantle now, with a large spike of volume, that is because in Elliott wave, the 5th wave is the last wave up before a correction. We will see a correction after this.
Wave 1 - up 100%
Wave 2 - Corrected down to the Fibonacci Line of .50 - Were off to a good start!
Wave 3 - Up 1.68 - What a run!
Wave 4 - Down to .382
Wave 5 - WE SHALL SEE! Potentially just back up to .10, .11, or all the way up to .15
We can see the 5th wave starting to dismantle now, with a large spike of volume, that is because in Elliott wave, the 5th wave is the last wave up before a correction. We will see a correction after this.
Comment:
This chart is a mess. I will say this - These ALTs are usually hot when BTC is starting to have a run, which is recently. The ALTs get announced on an exchange, and get hyped, overbought, and then most crash and are forgotten about. Please only buy coins that you believe in, and make smart trades. Just because JST has (DeFi) on it, does not mean it will be worth anything in the future. But for now, I couldn't resist buying the dip of exactly 0.5 of the 2nd wave (I was curious if this pattern would play out).
Comment:
Sometimes the exchanges are run by a BOT, and you see exact similarities like this
