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CoFo Lab Market Overview: Market Indecision Fuels Volatility

Analysis and Forecasts
2023-09-26 18:20:00
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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.

Indicators see-sawed, first in one direction, then the other. The market refuses to pick its path. Where are indicators pointing?

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: 10% of 100%

Timeframe Dominance: 66% of 100%

ETH

Dominant Direction: Long

Dominance Coefficient: 13% of 100%

Timeframe Dominance: 73% of 100%

LINK

Dominant Direction: Short

Dominance Coefficient: 17% of 100%

Timeframe Dominance: 72% of 100%

C98

Dominant Direction: Short

Dominance Coefficient: 18% of 100%

Timeframe Dominance: 82% of 100%

For context, we consider dominance above 35% significant.

Analysis

Long rates rebounded on the back of morning selling pressure. Overall, long dominance persists, but values remain minimal. Weak correlation emerged.

LINK declined locally. No other assets currently exhibit remarkable performance.

Indicators

Now examining the Collective Forecast indicators across timeframes:

BTC

Globally, sellers attempted to ignite a new leg down.

Medium-term retains seller dominance and a downtrend.

Locally, BTC declines within its bear trend. Few reversal hints beyond the lowest timeframes.

ALTS

Assets continue downward trends, accumulating oversold. Sellers are strong as bull volumes decline.

Medium-term remains in downtrends with substantial selling pressure.

Short-term back in bear trends. Some assets show reversals.

In summary, as of September 26 UTC evening, longs mildly rose on local oversold conditions. But indicators lean short overall. Long correlation emerged, signaling potential opportunities.

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