All COFO FEED

CoFo Lab Market Watch: Flames of an Overheated Market

Analysis and Forecasts
2023-10-31 15:53:34
198

Long-term firm bullish signals. Medium-term and short-term potential for downward corrections within a day brewing.

CoFo Scout

BTC

Dominant Direction: Short

Dominance Strength: 30% of 100%

Timeframe Dominance: 100% of 100%

ETH

Dominant Direction: Short

Dominance Strength: 21% of 100%

Timeframe Dominance: 82% of 100%

SOL

Dominant Direction: Short

Dominance Strength: 38% of 100%

Timeframe Dominance: 100% of 100%

C98

Dominant Direction: Short

Dominance Rate: 40% of 100%

Timeframe Dominance: 100% of 100%

Short dominance on lower and medium timeframes. Increasing dominance strength. Shorts keep moving higher but confident longs remain. Market sentiment D to W indicates potential for continued rises.

Short direction market-wide dominates strongly. High but incomplete ~80% timeframe sync.

Rising BTC short pressure and significantly increased dominance strength. 100% sync.

Increasing altcoin bearish pressure too, with growing dominance strength. But higher global long potential than BTC.

C98 and SOL exceeded 35% minimum dominance threshold. CoFo Scout shows superior short dominance and full timeframe sync.

In summary: Globally long. Potential continuation of upward momentum. But minimal justification for confident shorts. Watching C98 and SOL.

 

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