The downwave persists, local oversold zones.

What clues does the Collective Forecast toolkit provide?

CoFo Scout

Let's examine the latest data from our Collective Forecast survey tool:

Key Metrics

BTC

Dominant Direction: Long

Dominance Coefficient: 5% of 100%

Timeframe Dominance: 58% of 100%

ETH

Dominant Direction: Long

Dominance Coefficient: 16% of 100%

Timeframe Dominance: 74% of 100%

HBAR

Dominant Direction: Long

Dominance Coefficient: 34% of 100%

Timeframe Dominance: 100% of 100%

XLM

Dominant Direction: Long

Dominance Coefficient: 27% of 100%

Timeframe Dominance: 100% of 100%

Long correlations in dominance, but still weak overall. Short-term oversold drove indicator growth. But global short pressure intact.

For longs, it's better to wait for higher timeframe unloads to neutral/long indicators. Even the strongest longs remain unjustified risk-wise for now.

HBAR, XLM, BNB look most interesting currently. Prolonged declines with highest CoFo Scout dominance ratings and timeline syncs. Reversals may start here sooner.

Indicators

Examining Collective Forecast across timeframes:

BTC

Globally, uptrend retests on daily and weekly. Seller-led volumes persist. Situation unchanged.

Medium-term saw slight decline corrections, sending BTC into a downtrend.

Short-term upticks from morning reversal signals. Price hit resistance but sellers quickly responded, consolidating the trend. Accumulation mode.

ALTS

On higher timeframes, bear rallies continue. Assets leave uptrends or move within downtrends. Down cues remain.

Medium-term downtrend declines, nearing oversold zones without enough reversal signals yet.

Short-term rebounds confirmed by signal ticks. Assets accumulating near resistance lines. Muted seller response so far.

As of October 10 evening there are weak long correlations. Downtrends and selling pressure intact. Local oversold prompted growth, assets nearing thresholds.