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CoFo Lab Market Watch: Searching For Direction

Analysis and Forecasts
2024-03-13 11:27:25
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Cryptocurrencies have stalled, entering a consolidative pause as bearish signals accrue on CoFo Scout.

 

Analysis of CoFo Scout Readings

 

Buyers struggling to sustain auctions amid increasing downside threats, particularly for BTC which could catalyze a sharp selloff if bulls cannot maintain bids.

 

Global timeframes seeing heated tug-of-war, with notable day-timeframe buildup in short signals.

 

Across medium-term and local durations, a mixed picture of strong opposing positioning.

 

For BTC and select other leaders, bears looking to apply more concentrated pressure soon.  Monitoring BTC remains critical - failure by bulls to provide adequate support could urgently open up downside follow-through for broader markets.

 

Still, increasing local long dominance buffers against outright bearish scenario for now. But threats building and sideline cash likely awaiting cleaner signals to commit.

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