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CoFo Lab Market Overview: Bearish Long

Analysis and Forecasts
2023-09-27 09:30:00
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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.

Sellers dominate and strengthen their grip. Dominance indicators, however, tilt long, albeit minimally.

What clues does the Collective Forecast toolkit provide?

Scoutlist

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

Key Metrics

BTC

Dominant Direction: Long

Dominance Coefficient: 14% of 100%

Timeframe Dominance: 79% of 100%

ETH

Dominant Direction: Long

Dominance Coefficient: 14% of 100%

Timeframe Dominance: 78% of 100%

XLM

Dominant Direction: Short

Dominance Coefficient: 20% of 100%

Timeframe Dominance: 90% of 100%

MATIC

Dominant Direction: Short

Dominance Coefficient: 14% of 100%

Timeframe Dominance: 77% of 100%

For context, we consider dominance above 35% significant.

Analysis

Indicator signals remained largely unchanged, with a minor increase in long dominance - except the 30-min, which shows short dominance. Uncertainty lingers without timeframe synchronization.

No noteworthy observations on individual assets.

Indicators

Now examining the Collective Forecast indicators across timeframes:

BTC

Sellers dominate, developing a new leg down on the daily.

Medium-term shows a protracted decline, approaching oversold.

Locally, BTC regained its uptrend lacking supporting signals — in fact some shorts emerged.

ALTS

Selling pressure remains relentless. Most assets downtrend, gathering oversold. Falling bull volumes.

The medium-term retains its downtrend. Signals are mixed and multidirectional.

Lower timeframes show rangebound action with bullish signals.

In summary, as of September 27 UTC morning, uncertainty persists alongside a predominantly bearish trend. Long indicators edged up.

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