According to my Starry Night Software, which shows the event occuring in the early morning hours of 1/17/121 BC, the depiction would have been of a partial lunar eclipse, and not a waning or waxing crescent.
The software does not depict the lunar eclipse per se, but it has a pointer to the “Earth Shadow” which passes near to the moon while Jupiter is occulted. Jupiter emerges just as it and the moon are setting, and the sun is rising on the opposite horizon.
Are you saying numimatists should leave astronomy to the astronomers?