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CoFo Lab Market Watch: are Longs still in?

Analysis and Forecasts
2023-11-01 17:13:27
203

Continued medium-term overbought unloading. Long dominance emerged on minors.

CoFo Scout

BTC

Dominant Direction: Short

Dominance Strength: 11% of 100%

Timeframe Dominance: 71% of 100%

ETH

Dominant Direction: Short

Dominance Strength: 8% of 100%

Timeframe Dominance: 62% of 100%

LUNC

Dominant Direction: Long

Dominance Strength: 20% of 100%

Timeframe Dominance: 82% of 100%

SOL

Dominant Direction: Short

Dominance Rate: 22% of 100%

Timeframe Dominance: 83% of 100%

Long signals started dominating many assets. But insignificant strength — continued corrections possible. Significant medium-term shorts linger. Unchanged global long dominance.

No clear dominant direction. Shorts on majors, longs on others. But still weak dominance lacking sync.

Cooling BTC shorts continue. Timeframe desync but M15 local longs only.

Easing altcoin short pressure. Local long prevalence emerging. Some neutral medium-term signals.

In summary: Local and global longs, medium-term shorts. Upside potential remains but medium-term correction risk persists.

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