It's the flow of the market, and if you are familiar with how to read the Fibonacci then you will recognize when the pump and dump will begin. The other thing is when the whales are trying to increase the volume of a certain altcoin then they will pump it until new player/investors will come in then buy on the trend then whales will do their usual job.
But I don't think the Fibonacci strategy will certainly work in a volatile market and give you an exact direction as I see this still lead to price prediction. That is why even having multiple market tools use in doing market analysis that can't still be the assurance. Moreover, at this bear market condition, it was found to be exemptional if the project went high and created a huge pump unless it was hype and manipulated prices which I don't think was a good idea to invest in.