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CoFo Lab Market Overview: Volatility Fails to Provide Direction

Analysis and Forecasts
2023-09-27 12:00:00
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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.

Today's two-way volatility only added uncertainty and divergence, rather than bringing clarity.

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: 4% of 100%

Timeframe Dominance: 56% of 100%

ETH

Dominant Direction: Long

Dominance Coefficient: 3% of 100%

Timeframe Dominance: 65% of 100%

CRV

Dominant Direction: Short

Dominance Coefficient: 21% of 100%

Timeframe Dominance: 80% of 100%

DOT

Dominant Direction: Long

Dominance Coefficient: 18% of 100%

Timeframe Dominance: 79% of 100%

For context, we consider dominance above 35% significant.

Analysis

Long declines accompanied rising divergence, reversing emerging correlation. Lower timeframe shorts are substantial. Prolonged synchronization absence persists.

No noteworthy altcoin situations currently.

Indicators

Now examining the Collective Forecast indicators across timeframes:

BTC

The recent bearish turn fueled volatility. Signals for a new leg down linger.

Medium-term shows a prolonged decline. BTC is oversold, while an upside attempt failed amid negative news.

High local overbought and strong shorts accompanied the move, which was instantaneously countered with a downward impulse, — the volatility appears manipulative.

ALTS

Global downtrends continue with gathering oversold conditions. Long confirmations and opportunities will emerge once buyers materialize. For now, sellers dominate.

The medium-term retains seemingly interrupted downward moves and unsuccessful rebounds.

Lower timeframes show strong volatility, multidirectionality, and chaos. Most alts follow bullish impulses with declines.

In summary, as of September 27 UTC evening, volatility and divergence are rising. Assets largely trend down. Bullish momentum lacked impact.

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