⚠️ Disclaimer: This analysis does not constitute financial advice. We provide analytics only. All market decisions should involve your own analysis, using additional sources solely for confirmation or insight.

The market entered local accumulation but sellers remain active, keeping pressure on. Is the correction unfinished?

What clues does the Collective Forecast toolkit provide?

Scoutlist

Let's take a look at the latest data from our Collective Forecast survey tool:

Key Metrics

BTC

Dominant Direction: Short

Dominance Coefficient: 15% out of 100%

Timeframe Dominance: 79% out of 100%

ETH

Dominant Direction: Short

Dominance Coefficient: 7% out of 100%

Timeframe Dominance: 64% out of 100%

VET

Dominant Direction: Short

Dominance Coefficient: 16% out of 100%

Timeframe Dominance: 73% out of 100%

ATOM

Dominant Direction: Short

Dominance Coefficient: 9% out of 100%

Timeframe Dominance: 61% out of 100%

❕ For context, we consider dominance above 35% significant.

Analysis

Dominance indicators turned short on almost all assets with increased overheating. Shorts prevail locally/on medium timeframes but the global picture remains long. Near-term longs are extremely unfavorable amid high correction probability. Greater confidence and synchronization are needed to form positions per CoFo editors.

Indicators

Now examining the Collective Forecast indicators across timeframes:

BTC

Globally BTC still faces trend resistance, aiming for the bull trend. But retests or false breaks remain likely, meriting caution.

Medium-term charts show shorts and overbought, often anticipating trend corrections.

Locally BTC chopped sideways as calm indicators lack significant signals.

ALTS

The daily presents a more long-friendly picture on alts, except previous steady growers. Long confirmation depends on breaking trend resistance.

Medium timeframes show rangebound alts within a bull trend, but with shorts present too.

Locally a short wave active phase dominates. Most alts entered local bear trends.

In summary, as of September 20 UTC morning, shorts are mounting on more assets but dominance remains insufficient for shorts. Sellers gain strength amid directionless sideways price action.