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CoFo Lab Market Overview: Buyers Gather Strength

Analysis and Forecasts
2023-09-25 09:00:00
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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.

Long indicators continued rising amid growing divergence. Market sentiment tilts moderately long.

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: 8% of 100%

Timeframe Dominance: 62% of 100%

ETH

Dominant Direction: Long

Dominance Coefficient: 13% of 100%

Timeframe Dominance: 62% of 100%

MATIC

Dominant Direction: Long

Dominance Coefficient: 15% of 100%

Timeframe Dominance: 76% of 100%

ICP

Dominant Direction: Long

Dominance Coefficient: 19% of 100%

Timeframe Dominance: 85% of 100%

For context, we consider dominance above 35% significant.

Analysis

Longs grew as shorts declined throughout the day. Heavy divergence persists across timeframes. On average the market tilts upward but weak indicators may affect local impulse strength.

DOT began moving upward. Most assets haven't reached even 20% dominance, rendering the market currently uninteresting.

Indicators

Now examining the Collective Forecast indicators across timeframes:

BTC

The picture remains unchanged. For now, sellers failed to plunge BTC into a bearish abyss.

Medium-term retains a downward trend with weak long signals.

Locally, buyers awoke with confirmation signals. Attempts to regain the bull trend are possible.

ALTS

Interest in alts continues unabated.

The medium-term shows a bear retest. Few supports.

Many assets broke into a bull trend, confirmed by convergences.

In summary, as of September 25 UTC evening, local buyer activity emerged including on BTC. Indicators remain low with a minor long edge.

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