All COFO FEED

Cofo Lab Market Overview: Uncertain Accumulation Persists Amid Weakening Shorts

Analysis and Forecasts
2023-09-20 18:00:00
82

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 market anticipates exiting its range amid increasing uncertainty.

What clues does the Collective Forecast toolkit provide?

Scoutlist

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

Key Metrics

BTC

Dominant Direction: Short

Dominance Coefficient: 14% out of 100%

Timeframe Dominance: 78% out of 100%

ETH

Dominant Direction: Short

Dominance Coefficient: 1% out of 100%

Timeframe Dominance: 53% out of 100%

MATIC

Dominant Direction: Short

Dominance Coefficient: 0% out of 100%

Timeframe Dominance: 51% out of 100%

TRX

Dominant Direction: Short

Dominance Coefficient: 30% out of 100%

Timeframe Dominance: 100% out of 100%

For context, we consider dominance above 35% significant.

Analysis

Morning shorts decreased, nearing borderline values on some assets. Globally markets remain upward bound as shorts including on lower timeframes retreat. The 30-min shows emerging longs. However risk management warrants awaiting clearer confidence: strong synchronized longs across timeframes.

Uncertainty persists across most assets. TRX is less interesting, strongly outperforming shorts indicating overbought.

Indicators

Now examining the Collective Forecast indicators across timeframes:

BTC

Globally BTC nears a bull trend but retests or false breaks remain possibilities.

Medium-term timeframes show minor shorts and overbought.

Local ranging continues - the picture will clarify exiting the range.

ALTS

BTC's slowdown spurred sellers but pressure is still weak. Globally alts froze at trend resistance.

Shorts are on medium timeframes. Uptrend-entered coins test, with buyers slow to defend.

Most local assets diverge in downtrends.

In summary, as of September 20 UTC evening uncertainty built with near-zero dominance indicators. Sideways accumulation persists amid weakening shorts.

Only login in users can review, please log in or signup

Similar news