All COFO FEED

CoFo Lab Market Overview: Climactic Move Delayed

Analysis and Forecasts
2023-09-22 14:40:00
113

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.

The morning seemed to foreshadow imminent directional resolution. But Bitcoin lingers at the dividing line. How have instruments reacted?

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: Short

Dominance Coefficient: 8% of 100%

Timeframe Dominance: 65% of 100%

ETH

Dominant Direction: Long

Dominance Coefficient: 0% of 100%

Timeframe Dominance: 51% of 100%

IMX

Dominant Direction: Long

Dominance Coefficient: 1% of 100%

Timeframe Dominance: 52% of 100%

AVAX

Dominant Direction: Long

Dominance Coefficient: 20% of 100%

Timeframe Dominance: 80% of 100%

For context, we consider dominance above 35% significant.

Analysis

Oversold and shorts captured more timeframes, migrating higher. Overall limited change beyond slight long declines. Assets remain divergent and directionless. The lack of clarity keeps positioning unfavorable for now.

Previously mentioned IMX and AVAX saw longs fall. No assets stand out currently.

Indicators

Now examining the Collective Forecast indicators across timeframes:

BTC

No significant signals for Bitcoin globally or medium-term, stuck at the trendline.

Locally, BTC trades sideways near trend resistance.

ALTS

Globally, alts remain in accumulation.

Medium-term shows a short phase with a minor intraday dip. No reversal signals yet.

In summary, as of September 22 UTC morning, prolonged uncertainty persists. Positioning conditions remain unfavorable for now.

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