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CoFo Lab Market Watch: Accumulation of Directionlessness

Analysis and Forecasts
2024-03-07 22:21:41
808

Cryptos treading water in pro-trading ranges as weakening indicator synchronization caps volatility.

 

Analysis of CoFo Scout Readings

 

Global timeframes still pressured by short signals despite their declining numbers. Trend trajectories clear but lacking replacement by longs yet.

 

Medium-terms also controlled by shrinking short dominance, with long signals trickling up from local durations.

 

Fragmentation persists locally with no clear leader between bulls and bears.

 

For upside to resume, monitors need to see strengthening of those local longs as they progress up the timeframe hierarchy.

 

Overall, Scout readings remain mixed with assets struggling to align across horizons. Difficult to isolate any with high conviction at present.

 

Recommendations favor patience — await consolidation to resolve before taking positions as a clearer directional bias emerges.

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