JST Weekly Wisemen and Elliott Wave Count

Oct 25, 2023

On the weekly, JST has both Wisemen 1 and 2 signaling an imminitent long-term trend reversal. The diametric is also equal to the prior waves b+c in time and related to wave-a by 38.2% in price, giving it good timing for a break out from a forecasting perspective. The channeling for the diametric is also perfect contracting then expanding bowtie, and overall it forms a nice double combination. JST is likely to follow TRX which also has a very similar bullish count.

There's also an interesting buying pattern forming for the last month. 5 separate days, minutes after the new daily candle opens there has been a lot of buying that pushes the price up several percent within minutes and it only gets partially retraced. It looks like there are whales accumulating around these prices on these days around 8pm EST, probably right before a long-term break out and trend reversal happens. Volume on Poloniex has also skyrocketed the last few weeks.

Oct 25, 2023

Comment

Just a few hours later we have now confirmed Wiseman 3 with the weekly breaking above the most recent fractal. Expecting an imminent move higher and this being a long-term bottom which likely will never be retraced.