#JASMY : Fakeout or Breakout to The Moon
.
.
.
.
The main levels to watch for a breakout are 2.15 and 2.2.
Jasmi is considered bullish due to its market structure and recent momentum.
Trading and analyzing in low volume market situations can be risky, as many fake outs occur on Sundays.
Despite being fairly uncorrelated to Bitcoin, Jasmi can still be affected by its movements.
I expects a drop in open interest following the recent rally, but does not anticipate the uptrend to stop.
There has been positive spot buying and momentum, but large purchases have been followed by relatively big drops.
The two biggest drops occurred on May 19th and May 23rd.
The speaker expects a pullback towards the 2.05 or 2 cent level, followed by consolidation and a continuation of the uptrend to 2.4 and 2.5 cents.
The Daily timeframe shows the top of the range at 2.5 cents.
A deeper pullback is possible if Bitcoin experiences a bearish breakout and drops below $68,000.
