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CoFo Lab Market Overview: Tug of War

Analysis and Forecasts
2023-10-18 19:10:00
172

Despite sellers pushing prices to local accumulation bottoms, neither side succeeded today.

What clues does the Collective Forecast toolkit provide?

CoFo Scout

Let's check the Collective Forecast survey:

Key Metrics

BTC

Dominant direction: Short

Dominance Rate: 20% of 100%

Dominance on timeframes: 79% of 100%

ETH

Dominant direction: Long

Dominance Rate: 5% of 100%

Dominance on timeframes: 60% of 100%

HFT

Dominant direction: Long

Dominance Rate: 30% of 100%

Dominance on timeframes: 100% of 100%

SUI

Dominant direction: Long

Dominance Rate: 28% of 100%

Dominance on timeframes: 96% of 100%

Mixed signals, insignificant indicators.

Assets and Charts

Exit impulse potential accumulated during the day but neither sellers nor buyers tilted it their way yet. Weakening short signals on higher timeframes.

Locally, BTC tested accumulation tops but bulls couldn't gain footholds higher. Sellers returned prices to accumulation but appear unable to reclaim short potential either.

Altcoins also remain accumulated, without significant changes.

Notable Situations

Watching HFT and SUI with highest long CoFo Scout dominances and timeline syncs.

In summary: Fragmented signals, lack of sync, market moves within local accumulation zones.

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